Seven Islands Shipping has filed preliminary papers with Sebi to raise Rs
450 crore through an initial public offering, draft papers filed with markets
The IPO comprises a fresh issue of shares worth Rs 200 crore, besides a
sale of scrips to the tune of Rs 250 crore by private investor Wayzata
Investment Partners and the promoters.
Funds raised through the issue will be used to buy a very large crude
carrier and for other general corporate purposes.
Edelweiss Financial Services is the sole book running lead manager to the
issue. The shares are proposed to be listed on the BSE and the National Stock
Seven Islands Shipping is a liquid sea-borne logistics company and operates
under two categories — crude oil trade and liquid products trade that includes
white oils, black oils, and lube oil.