GE Shipping to raise Rs 300 crore on private placement basis

The Great Eastern Shipping Company Ltd. | Shipping | Transportation & Logistics | BSE: 500620 | NSE: GESHIP

03 Apr 2018 Evaluate

Great Eastern Shipping Company (GE Shipping) has received an approval for issue of 3000 Secured Non-Convertible Debentures of Rs 10 lakh each aggregating to Rs 300 crore by way of private placement. The said debentures will be listed on WDM segment of National Stock Exchange of India. The tenure is for 10 years and it will carry coupon rate of 8.85% per annum.

Credit Analysis & Research has assigned ‘AAA’ (Outlook: Stable) rating and Brickwork Ratings India has assigned ‘AAA’ (Outlook: Stable) 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.

Peers

Company Name	CMP
Shipping Corpn.India	277.10
Great Eastern Ship.	1430.60
Dredging Corporation	992.25
Seamec	1728.80
Shreeji Ship.Global	708.15
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Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
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Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
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SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045

Compliance Officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com	Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com	Telephone: +919860919463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com	Telephone: +919175899463 Address: Same as IA
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