Saturday, 27 November 2010

The Shipping Corporation of India Limited issues FPO (Follow on Public Offering)

As we posted earlier The Shipping Corporation of India Limited issues FPO (Follow on Public Offering).

The Shipping Corporation of India has been established on 2nd October, 2010 by amalgamating Eastern Shipping Corporation and Western Shipping Corporation.  Now it is the largest Shipping Company in India. SCI’s owned fleet includes Bulk carriers, Crude oil tankers, Product tankers, Container vessels, and Passenger-cum-Cargo vessels, Phosphoric Acid / Chemical carriers, LPG / Ammonia carriers and Offshore Supply Vessels. Sailing through for nearly five decades, the SCI today has a significant presence on the global maritime map. Today Shipping Corporation of India is a high quality and safety conscious organization.

Now the FPO is open for subscription between 30/11/2010 and 03/12/2010. The issue is priced between Rs.135 and Rs.140 as per the following details.

Issue opens on                                 :               30th November, 2011

Issue close on                                   :               03rd December, 2011

Issue Size (Shares)                          :               84690730 equity shares

Issue Size (Rupees)                         :               1143.34 crores to 1185.68 crores

Face Value of Equity Shares       :               Rs. 10 per share.

Minimum Number of Shares to be applied:

Minimum 5o shares to be applied and in muliples of 50 there after.

Share Allocation

Employees Reservation               :               423454 shares (Rs. 5.71 crores to 5.92 crores)

QIB Investors                                   :               42133638 shares (Rs. 569.80 crores to 589.88 crores)

Non Institutional Investors       :               12640091 shares (Rs. 170.64 crores to 176.97 crores)

Retail Investors                               :               29493547 shares (Rs. 398.16 crores to 412.90 crores)

The BRLMs (Book Running Lead Managers) are SBI Capital Markets Ltd., ICICI Securities Ltd. and IDFC Capital Ltd. The shares or Shipping Corporation of India listed in BSE and NSE and the issuing bankers are ICICI Bank Limited, Yes Bank Limited, HDFC Bank Limited, Axis Bank Limited, Kotak Bank Limited and State Bank of India.

No doubt, as a leading Public Sector Undertaking, the FPO of SCI will be oversubscribed.

1 comment :

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