Reserve Bank of India (RBI) has allowed Great Eastern Shipping Company (GE Shipping) to increase its foreign institutional investor (FII) limit. With this, FII's can now purchase through the primary market and stock exchanges up to 33 per cent of the paid-up capital of GE Shipping under the Portfolio Investment Scheme.
The company has passed a special resolution to enhance the limit for the purchase of its equity shares and convertible debentures by FIIs.
As per data available, Promoters held 30.16% stake in December quarter, Foreign and Domestic Institutional Investors holding stood at 24.13% and 16.00% respectively, while retail investors’ holding in company was at 29.71%.
Great Eastern Shipping Company is India’s largest private sector shipping company. The company’s major businesses include shipping and offshore.
Company Name | CMP |
---|---|
Shipping Corpn. | 238.70 |
GE Shipping | 1046.85 |
Dredging Corp | 892.40 |
Shreyas Shipping | 293.60 |
Seamec | 1110.00 |
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