Seven Islands Shipping is India's 3rd largest seaborne logistics firm by deadweight tonnage as of December 2020. Their company had a large market share in Indian crude oil import time charters in 2020. They are one of the few Indian shipping companies to have made a profit in each of the last three fiscal years, and their Return on Average Equity and Return on Average Capital Employed are among the best in the Indian seaborne logistics industry.
All 20 of their ships are registered and flagged in India, and they operate as Indian-owned and flagged ships. They started with only one vessel in Fiscal 2003 and now have 20 liquid cargo vessels with a total deadweight capacity of 1,105,682 MT as of January 31, 2021. There are four Small vessels, thirteen MR vessels, and three Suezmax vessels among their 20 vessels. They have increased their capacity from 6,009 MT of deadweight on March 31, 2003 to 66,889 MT of deadweight on March 31, 2010. They bought their first MR vessel in fiscal year 2010. Since then, they've steadily expanded their fleet and capability by acquiring new vessels at regular intervals.
Seaborne Logistics IPO Details
Seven Islands Shipping, India's 3rd largest seaborne logistics firm, has filed its draft red herring prospectus (DRHP) with capital market regulator SEBI in preparation for its initial public offering. The Maharashtra-based firm plans to collect Rs 600 crore through a public offering that includes a Rs 400 crore fresh issue and a Rs 200 crore bid for sale (OFS). Seven Islands Shipping will use the proceeds from the fresh issue to buy a giant vessel and one compact-sized vessel on the secondary market for Rs 352.43 crore.
Seaborne Logistics IPO Date
Seven Islands Shipping Limited's initial public offering (IPO) has yet to be announced. In most cases, the IPO will last 3 to 4 days, after which you will be assigned shares depending on demand. If your shares are not allocated to you, the money you paid will be refunded to your bank account.
Seaborne Logistics IPO Issue Size
This Initial Public Offering consists of an undisclosed number of Rs.10 equity shares for cash at an unknown price per equity share, totaling Rs.600 million.
Seaborne Logistics IPO Share Price
The face value of each share is Rs 10, but the IPO's price band has yet to be revealed. The initial share sale will take place early in the next fiscal year.
Seaborne Logistics IPO Listing
The exact date of this upcoming IPO's public offering is unknown.
Seaborne Logistics IPO Objectives
- Seven Islands Shipping propose that the Net Proceeds be used to finance the following elements:
- Secondary market acquisition of one VLCC vessel and one MR vessel (acquisition of vessels); and
- Corporate purposes in general
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