Aion Direct buys additional 5.67% stake in Mercator through FCCB Conversion

04 Jun 2014

Aion Direct has bought additional 5.67% stake in Mercator through FCCB Conversion. With this, Aion Direct holds 9.08% stake in the company. Back in May, Mercator reported that its transaction for issuing Foreign Currency Convertible Bonds (FCCB), unsecured, aggregating $16 million basis had been fully subscribed and the bonds stand to be alloted.

Mercator is the second-largest private sector shipping company on a consolidated basis in India, in terms of tonnage capacity. The group has a presence in varied segments namely shipping, offshore services, oil exploration and production, dredging, coal mining/trading and logistics.

Related Mercator Ltd. Links:

Mercator Share Price

1.04 0.01 (0.97%) Mar 01, 18:43
1 Year Price Chart
Peers
Company Name CMP
Shipping Corpn. 103.70
GE Shipping 307.50
Dredging Corp 414.30
Shreyas Shipping 82.50
Essar Shipping 8.96
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Sensex vs Mercator
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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