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GE Shipping jumps on raising Rs 500 crore on private placement basis

16 Jan 2017

Great Eastern Shipping Company is currently trading at Rs. 385.85, up by 4.80 points or 1.26% from its previous closing of Rs. 381.05 on the BSE.

The scrip opened at Rs. 384.85 and has touched a high and low of Rs. 387.30 and Rs. 384.55 respectively. So far 1434 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 397.60 on 01-Nov-2016 and a 52 week low of Rs. 275.00 on 02-Mar-2016.

Last one week high and low of the scrip stood at Rs. 389.40 and Rs. 379.50 respectively. The current market cap of the company is Rs. 5806.42 crore.

The promoters holding in the company stood at 30.41%, while Institutions and Non-Institutions held 42.55% and 27.05% respectively.

Great Eastern Shipping Company (GE Shipping) has received an approval to issue 5000 Unsecured Non-Convertible Debentures (NCDs) of Rs 10 lakh each aggregating to Rs 500 crore by way of private placement. The Debenture Issue Committee at its meeting held on January 16, 2017 has approved for the same.

The said issues will be listed on WDM segment of National Stock Exchange (NSE). Credit rating agency, Credit Analysis & Research has assigned ‘AAA’ rating to the said issue, while Brickwork Ratings India has assigned ‘AAA’ rating to the said issue.

Great Eastern Shipping Company is India’s largest private sector shipping company. The company’s major businesses include shipping and offshore.

Related The Great Eastern Shipping Company Ltd. Links:

GE Shipping Share Price

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323