Great Eastern Shipping to raise Rs 150 cr via NCDs

Great Eastern Shipping to raise Rs 150 cr via NCDs

23/05/2017 13:31

Great Eastern Shipping Company today announced that the debenture issue committee has approved raising up to Rs 150 crore via issuance of non- convertible debentures on private placement basis.

“The debenture issue committee at its meeting held today has approved the issue of 1,500 unsecured non-convertible debentures of Rs 10 lakh each aggregating to Rs 150 crore by way of private placement,” Great Eastern Shipping said in a BSE filing.

Tenure of the NCDs will be 10 years and will carry coupon/interest rate of 8.25 per cent per annum.

The company has two main businesses –shipping and offshore.

Meanwhile, shares of the company were trading at Rs 402.35 apiece, down 2.12 per cent from the previous close at 13:40 hours on BSE.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s