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G E Shipping gets nod to incorporate wholly owned subsidiary

15 Mar 2024 Evaluate

Great Eastern Shipping Company (G E Shipping) has received approval to incorporate a wholly owned subsidiary (WOS) in International Financial Services Centre (IFSC) at Gift City, Gandhinagar, Gujarat with the main object of ‘ship leasing’ which shall include owning, operating and chartering of vessels and other permissible activities. The authorized equity share capital of the proposed WOS shall be Rs 50 crore. 

The initial paid up equity share capital shall be Rs 9 crore to be subscribed by the company for cash. The name of the WOS shall be ‘The Great Eastern Shipping (IFSC)’ or such name as may be approved by the Registrar of Companies. The Board of Directors of the company at their meeting held March 15, 2024, has approved the same.

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


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