Initial public offerings (or IPOs) allow for privately held companies to raise capital which is ordinarily used to help them grow and expand. They allow the public to invest in their shares when they issue a new stock. A new IPO soon to be on the market is going to be offered by Seven Islands Shipping Limited which has just acquired approval from the Securities and Exchange Board of India (SEBI) to offer IPOs in order to raise 600 crores.
Founded in 2002, Seven Islands Shipping Limited is a Mumbai-based liquid seaborne logistics company which operates ocean going tankers. Safe transportation, efficient services and cleaner seas serve as its primary commitments. Furthermore, it understands the importance of ensuring a cleaner environment and the safety levels required for life at sea. Keeping these facts in mind it has strived to constantly develop and maintain high standards of their fleet. It has continued to remain a profitable enterprise throughout its years of operation. Its quantum of earnings has also continued to be on the rise at a steady and rapid pace.
Look below to know more about the details pertaining to Seven Islands Shipping IPO.
The company has yet to set an opening date for its upcoming IPO, but it is expected to be made available to the public within this year.
The company plans to offer their IPO shares at a price of INR 10 per share aggregating to an amount of INR600 crores – with INR400 crores available via fresh issue and an offer for sale mounting to INR 200 crores.
The shares of this company will be available for purchase on both, the Bombay Stock Exchange, as well as the National Stock Exchange.
The funds generated from the IPO are intended to be used to purchase a gargantuan crude container along with a medium-grade vessel. Additionally, funds will be used to meet common corporate objectives.
Take advantage of investing in Seven Islands Shipping’s IPO as it has a history of profitability and has a bright future ahead of it. Those yet to be initiated into the world of online trading can create a Demat account online and learn as they go along.
Before commencing online trading, always remember to open a Demat Account and Trading Account with a trusted and reliable financial partner.
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