The IPO comprises fresh issue of shares worth Rs 200 crore, besides a sale of scrips to the tune of Rs 250 crore by private investor Wayzata Investment Partners and the promoters.
Funds raised through the issue will be used to buy a very large crude carrier and for other general corporate purposes.
Edelweiss Financial Services is the sole book running lead manager to the issue. The shares are proposed to be listed on the BSE and the National Stock Exchange (NSE).
Seven Islands Shipping is a liquid seaborne logistics company and operates under two categories viz. crude oil trade and liquid products trade that includes white oils, black oils, and lube oil.
Last month turned out to be action-packed for the IPO markets as more firms approached SEBI to float initial share sale offerings. This included Prince Pipes and Fittings, HG Infra Engineering, Newgen Software Technologies, Apollo Micro Systems, Amber Enterprises, Lemon Tree Hotels and CMS Info Systems.
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