Shipping Corporation of India FPO

After coal India and MOIL IPO another issue from government is coming, however this time its a FPO or follow on public offer. Shipping Corporation of India is coming with a follow on public issue or FPO which will open on 30th November and will close on December 2 for institutional investors and December 3 for retail investors3rd December. The price band for the Shipping Corporation of India FPO has been fixed at Rs 135 to Rs 140 a share. The company aims to raise around Rs 1,300 crore from this follow on public issue. The company aims to raise around Rs 1,300 crore from this follow on public issue.

Indian investment banks SBI Capital, ICICI Securities and IDFC Capital are the lead managers for the Shipping Corporation of India FPO. Company intends to use this money for acquisition of vessels. Retail investors and employees of Shipping Corporation of India will get 5 percent discount on this issue.

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