Great Offshore defers fund raising plan

MUMBAI: Integrated offshore oil field services provider Great Offshore on Tuesday said it has deferred its plan to raise funds through the issue of securities.

The board of directors, at its meeting today, "decided to defer the consideration of raising funds through further issue of securities," Great Offshore said in a filing to the Bombay Stock Exchange (BSE).

On January 30, the company had said that its board will meet to consider raising of funds by way of further issue of securities.

The company did not give any further details about the deferment of fund raising plan.

Meanwhile, the board today gave its consent for appointing three directors -Vijay Kumar, Prakash Chandra Kapoor and Chetan Mehra.

Great Offshore has been in news for sometime due to takeover battle for the company by Bharati Shipyard and ABG Shipyard.

Shares of Great Offshore today settled the trade at Rs 428.25, down by 2.86 percent on the BSE.