Great Eastern Shipping to raise Rs 150 crore via NCDs

Great Eastern Shipping Company today said its debenture issue committee has approved a proposal to raise Rs 150 crore via issuance of non-convertible debentures (NCDs) on a private placement basis.

"The debenture issue committee at its meeting held today has approved the issue of 1,500 secured non-convertible debentures of Rs 10 lakh each aggregating to Rs 150 crore by way of private placement," Great Eastern Shipping said in a filing to BSE.

The company has two main businesses - shipping and offshore.

Its shares were trading 0.32 per cent higher at Rs 388.80 apiece on BSE.