Seven Islands Shipping gets Sebi's nod to raise Rs 600 crore through IPO

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Seven Islands Shipping gets Sebi's nod to raise Rs 600 crore through IPO
Seaborne logistics firm Seven Islands Shipping has received markets regulator Sebi's go-ahead to raise Rs 600 crore through an initial share-sale. The public issue comprises a fundraise via fresh issue amounting to Rs 400 crore, and an offer for sale aggregating up to Rs 200 crore, according to draft red herring prospectus filed with Sebi.
Under the offer for sale, up to Rs 100 crore will be raised by FIH Mauritius Investment, up to Rs 85.64 crore by Thomas Wilfred Pinto, and up to Rs 14.35 crore by Leena Metylda Pinto.
Seaborne logistics company, which filed preliminary papers with Sebi in February, obtained its observation on March 22, latest update with the Securities and Exchange Board of India (Sebi) showed.

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