The Net Proceeds raised from the fresh issue are to be utilized to acquire 1 Very Large Crude Carrier vessel and 1 Medium Range Vessel from the secondary market at an estimated expense of Rs352.43cr.
The company said it will utilise the net proceeds raised from the fresh issue to acquire a large crude carrier vessel and one medium-range vessel from the secondary market at an estimated expense of Rs 352.43 crore
The company started its operations in 2003 with one vessel and currently has 20 Indian flagged and Indian owned liquid cargo vessels with a total deadweight tonnage capacity of 1.1 million tonnes
Logistics firm Seven Islands Shipping on Tuesday said it has filed papers with markets regulator Sebi for a public offering to raise up to Rs 600 crore. The company said it will utilise the proceeds to buy vessels at a cost of Rs 352.43 crore.