Greatship India Ltd to consider IPO

Great Eastern Shipping Company Ltd (GE Shipping) has announced that, as part of their growth plans, the wholly owned subsidiary, Greatship (India) Ltd ("Greatship"), from time to time, looks at various options to raise finances for its business. The Board of the Company has approved that Greatship may consider approaching the public for an initial public offering. Any offering and its timing will be subject to market conditions, obtaining necessary shareholder and regulatory approvals.

There can be no assurance that any offering will happen in a timely manner or at all. The final decision of the mode of raising finances will be decided by the Board of Directors of Greatship.

The Great Eastern Shipping Company Ltd stock closed the day at Rs.282.90, down by Rs.6.30 or 2.18%. The stock hit an intraday high of Rs.289.70 and low of Rs.281.15.

The total traded quantity was 40847 compared to 2 week average of 58326.

Source : Equity Bulls

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