Great Eastern board to consider raising up to Rs 1K cr via NCDs

Team Udayavani, Apr 24, 2018, 6:15 PM IST

New Delhi: Great Eastern Shipping Ltd today said its board will next month decide on raising up to Rs 1,000 crore through private placement of non-convertible debentures (NCDs). 

“The board of directors of the company is scheduled to be held on Friday, May 4, 2018, to consider…issue of non-convertible debentures up to an amount not exceeding Rs 1000 crore by way of private placement during the year,” Great Eastern said in a BSE filing.

The board will also consider audited standalone and consolidated financial results for the year ended March 31, 2018, the filing said.

The company has two main business: shipping and offshore.

The shipping business involves transportation of crude oil, petroleum products, gas and dry bulk commodities. The offshore business provides services to oil companies in carrying out offshore exploration and production activities, through its subsidiary Greatship (India) Ltd.