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The Great Eastern Shipping Company informs about proposal to incorporate of WOS

15 Mar 2024 Evaluate
The Great Eastern Shipping Company has informed that the Board of Directors at their meeting held today, March 15, 2024 has approved a proposal 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) Limited’ or such name as may be approved by the Registrar of Companies. The company has clarified that the promoter / promoter group members are not interested in the proposed WOS. The meeting of the Board of Directors commenced at 10.00 am and concluded at 10.55 am.

The above information is a part of company’s filings submitted to BSE. 

GE Shipping Share Price

1404.20 -9.90 (-0.70%)
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