Greatship India IPO : GE Shipping Board Approved the Plan

by khalid on 23/03/2010 · 0 comments

Great Eastern Shipping Company Ltd (GE Shipping) has informed the market(BSE) that the company is planning to raise money for its subsidiary through IPO route. The company has planned a growth strategy for its wholly owned subsidiary, Greatship (India) Ltd . The company may file a draft prospectus DRHP with SEBI within 2-3 months.

Greatship India is planning to use the proceeds of the proposed IPO for acquiring assets for offshore services. The company operation involves drilling, offshore logistics and offshore construction. It has entered into agreements with global service providers to offshore supply vessels and in-charter rigs for requirements in the country. By March 2013, GIL and its subsidiaries will have a total of 27 operating offshore/logistic assets.

Greatship India (GIL) was incorporated in 2002 and is based in Mumbai and Singapore.

Related Posts Plugin for WordPress, Blogger...

Leave a Comment

Previous post:

Next post: