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GE Shipping gets nod to raise Rs 150 crore on private placement basis

Great Eastern Shipping Company (GE Shipping) has received an approval to issue 1500 Unsecured Non-Convertible Debentures (NCDs) of Rs 10 lakh each aggregating to Rs 150 crore by way of private placement. The Debenture Issue Committee at its meeting held on May 23, 2017 has approved for the same.

The said issues will be listed on WDM segment of National Stock Exchange (NSE). Credit rating agency, Credit Analysis & Research has assigned ‘AAA’ rating to the said issue, while Brickwork Ratings India has assigned ‘AAA’ rating to the said issue.

Great Eastern Shipping Company is India’s largest private sector shipping company. The company’s major businesses include shipping and offshore.

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