The Great Eastern Shipping Company Ltd to form ship leasing subsidiary in IFSC, Gift City

The Board of Directors of The Great Eastern Shipping Company Limited at their meeting held today, i.e. March 15, 2024 has approved a proposal to incorporate a Wholly Owned Subsidiary (WOS) in International Financial Services Centre ('IFSC') at Gift City, Gandhinagar, Gujarat with the main object of 'ship leasing' which shall include owning, operating and chartering of vessels and other permissible activities.

The authorized equity share capital of the proposed WOS shall be Rs. 50 crore. The initial paid up equity share capital shall be Rs. 9 crore to be subscribed by the Company for cash.

The name of the WOS shall be 'The Great Eastern Shipping (IFSC) Limited' or such name as may be approved by the Registrar of Companies.

Shares of The Great Eastern Shipping Company Limited was last trading in BSE at Rs. 967.45 as compared to the previous close of Rs. 909.25. The total number of shares traded during the day was 15658 in over 1190 trades.

The stock hit an intraday high of Rs. 972.60 and intraday low of 891.10. The net turnover during the day was Rs. 14925809.00.

Source : Equity Bulls

Keywords

TheGreatEasternShippingCompany INE017A01032 Subsidiary IFSC GiftCity ShipLeasing