Great Eastern Shipping to raise 500 crore via NCD

Great Eastern Shipping Company today announced that the debenture issue committee has approved raising up to Rs 500 crore via issuance of non-convertible debentures on private placement basis.

"The Debenture Issue Committee at its meeting held on January 16, 2017 has approved the issue of 5,000 Unsecured Non-Convertible Debentures of Rs 10 lakh each aggregating to Rs 500 crore by way of private placement," Great Eastern Shipping said in a filing to BSE.

The company has two main businesses --shipping and offshore.