Sunday, February 25, 2018

sisbanner5Seven Islands Shipping Limited filed its Draft Red Herring Prospectus (DRHP) with the market regulator SEBI seeking permission for its Initial Public Offering (IPO). Seven Islands Shipping is the third largest liquid seaborne logistics company in India by deadweight tonnage(Source: CRISIL Research Report).

The IPO comprises of a Fresh Issue up to Rs. 2,000 million and an Offer for Sale aggregating up to Rs. 2,500.00 million Wayzata III Indian Ocean Limited, Thomas Wilfred Pinto and Leena Metyldipoa Pinto.

The equity shares will have a face value of Rs 10 and the price band will be decided in consultation with the Book Running Lead Managers (BRLMs)

The Net Proceeds from the fresh issue will be utilised towards (i) acquisition of a VLCC vessel in the secondary market and (ii) general corporate purposes

Edelweiss Financial Services Limited is the book running lead managers to the issue and Link Intime India Private Limited is the Registrar.