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Essar Ports to raise around $1 billion through securities

07 Sep 2013 Evaluate

In a bid to fund its ongoing expansion of various projects, Essar Ports is planning to raise around $1 billion through securities. Execution of various projects of the subsidiary companies require considerable amount of equity. In this regard, the company is seeking its shareholders approval.

The size of the above issue/offering of Securities is proposed to be up to an aggregate amount not exceeding $1 billion or equivalent amount in Indian or any other currency (inclusive of such premium as may be determined) to be issue in one or more tranches.

Essar Ports, part of the multinational conglomerate Essar Group, is engaged in business of providing end-to-end logistics services with investments in ports and terminals, logistics services, sea transportation and oilfield drilling services.

 

Peers
Company Name CMP
Shipping Corpn. 338.75
GE Shipping 1586.75
Dredging Corp 952.90
Seamec 1502.55
Shreeji Ship.Global 415.85
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