SRCC Children’s Hospital organizes mega awareness campaign on Rett Syndrome - Reliance Nippon Life Asset Management Limited’s – Initial Public Offer to open on Wednesday, October 25, 2017, and close on Friday, October 27, 2017 Price Band of Rs. 247 to Rs. 252 per Equity Share each of Face Value of Rs. 10/- each - Nomination process for the 6th Shriram Awards for Excellence in Financial Journalism begins - IIFL’S ‘DHAN KI BAAT’ INITIATIVE TO REACH 5 CRORE PEOPLE BY END OF 2018 - Delta Corp's 'Deltin World Gaming Festival 2017' Woos Gamers Across The World To Descend On Goa To Experience ‘A Celebration of a Lifetime‘ - GNC strengthens its presence in India - Camlin & ‘Aamchi Dilli’ to host art competition for kids on Shivaji Maharaj - LEAP India has emerged as leading player in Indian Pallets and FLC Pooling Market with Lions market Share - MUMBAI, NEW DELHI AND BENGALURU ARE HOME TO 73% REAL ESTATE BARRONS: GROHE HURUN INDIA REAL ESTATE RICH LIST 2017 - LATEST TRENDS IN NON- FERROUS METAL INDUSTRY - Seven Islands Shipping Limited files IPO papers with SEBI - General Insurance Corporation of India’s initial public offering to open on October 11, 2017, with a Price Band of ₹ 855 to₹ 912 per Equity Share, each of Face Value of ₹ 5 each - Indian Energy Exchange Limited’s Initial Public Offer to open on Monday, October 9, 2017 and to close on Wednesday, October 11, 2017 Price Band fixed from Rs. 1,645 to Rs. 1,650 per Equity Share - MAS Financial Services Limited’s IPO to open on October 06, 2017 with Price Band of ₹456 to ₹459 per Equity Share each of Face Value of ₹ 10 each - Godrej Agrovet Limited’s IPO to open on 4th October, 2017 with Price Band of Rs. 450/- to Rs. 460/- per Equity Share each of Face Value of Rs. 10/- each - Vista Equity Partners Companies pledge $1 Million USD to The Akshaya Patra Foundation to deliver millions of meals to Indian school children - Trailer of ISIS- Enemies of Humanity Launched at World One Music Festival - RankHigher Adds Another Feather In It's Cap With The Prestigious Big Bang Award 2017,Boosts Awareness On Organ Donation - Concept PR Bags The Prestigious Fulcrum Award - PAWA INVITED IN BERLIN ON WORLD PEACE DAY FOR HIS MELODIOUS MUSICAL CONCERT "SAMBUDDHA LIVE"
  Print Print |  E-mail

Seven Islands Shipping Limited files IPO papers with SEBI


MUMBAI,  4 october,  2017 (GNS) : Seven 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 Metylda 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.

About Seven Islands Shipping Limited:

Seven Islands Shipping Limited are the third largest liquid seaborne logistics company in India by deadweight tonnage (Source: CRISIL Report). All the vessels owned by the company are registered and flagged in India and operate as Indian owned and flagged vessels. SIS operates primarily along the Indian coast, Arabian Gulf and South-east Asia.

The liquid seaborne logistics business of the company can be classified into crude oil trade and liquid products trade. Crude oil is transported in crude oil vessels classified as Aframax, Suezmax, Very Large Crude Carriers or VLCCs and Ultra Large Crude Carriers or ULCCs (the “crude oil logistics business”). Liquid products like white oils, black oils, lube oil and liquid chemicals are transported in product vessels classified as Small vessels, Medium Range or MR vessels and Long Range or LR vessels (the “oil product logistics business”).

Seven Islands shipping operates in both these categories of business. Company transport crude oil primarily from the Arabian gulf countries to Indian refineries along the Indian coast. Company’s principal customers are Indian Oil Corporation Limited or IOCL, Hindustan Petroleum Corporation Limited or HPCL and Bharat Petroleum Corporation Limited or BPCL. SIS began their operations with only one vessel in Financial Year 2003 and have, over the last 15 years, acquired 18 vessels and sold six vessels.ENDS

Be the first to comment on "Seven Islands Shipping Limited files IPO papers with SEBI"

Leave a comment

Your email address will not be published.