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GE Shipping to raise Rs 300 crore on private placement basis

Great Eastern Shipping Company (GE Shipping) has received an approval for issue of 3000 Secured Non-Convertible Debentures of Rs 10 lakh each aggregating to Rs 300 crore by way of private placement. The said debentures will be listed on WDM segment of National Stock Exchange of India. The tenure is for 10 years and it will carry coupon rate of 8.85% per annum.

Credit Analysis & Research has assigned 'AAA' (Outlook: Stable) rating and Brickwork Ratings India has assigned 'AAA' (Outlook: Stable) 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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