SCI FPOShipping Corporation of India (SCI), one of India’s largest shipping companies in terms of Indian flagged tonnage, will be coming out with its follow-on public offer (FPO) of 8,46,90,730 equity shares on November 30, 2010.

As per draft prospectus, the issue comprises of a fresh issue of 42,345,365 equity shares by company and an offer for sale of 42,345,365 equity shares by the President of India, acting through the ministry of shipping, government of India. The issue comprises a net issue to the public of 84,267,276 equity shares and a reservation of up to 423,454 equity shares for subscription by eligible employees.

Shipping Corporation has approximately 35% share of Indian flagged tonnage as of June 30, 2010, according to the website of Directorate General of Shipping, Government of India (DG Shipping). As of September 30, 2010, it owned a fleet of 74 vessels of 5.11 million dead weight tonnage (DWT).



Its fleet includes dry bulk carriers, very large crude carrier (VLCC) tankers, crude oil tankers, product tankers, container vessels, passenger-cum-cargo vessels, phosphoric acid and chemical carriers, LPG and ammonia carriers, and offshore supply vessels.

The issue will close for subscription on December 03. Central and state governments’ holding will reduce to 63.75% post issue.

Company will not receive any proceeds from the offer for sale by governments. However, net proceeds from fresh issue will be used for part funding the equity portion for the acquisition of certain vessels by company and general corporate purposes.

SBI Capital Markets Limited, ICICI Securities Limited and IDFC Capital Limited are the book running lead managers to the issue.

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SCI FPO Allotment Status

Shipping Corporation of India (SCI), one of India’s largest shipping companies in terms of Indian flagged tonnage, will be coming out with its follow-on public offer (FPO) of 8,46,90,730 equity shares on November 30, 2010. Offer closes on Dec 03, 2010.

SBI Capital Markets Limited, ICICI Securities Limited and IDFC Capital Limited are the book running lead managers to the issue. Karvy is the registar for the company.

Check Allotment Status Below:
SCI FPO Allotment

SCI FPO Listing Date, Shipping Corporation of India FPO Listing Date

Open Date 30-Nov-2010
Close Date 03-Dec-2010
Allotment Date 13-Dec-2010
Refund Date 14-Dec-2010
Listing Date 15-Dec-2010 (Expected)

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Admin November 23, 2010

AdminStock Marketcapital limited,cargo vessels,chemical carriers,container vessels,Corporation,crude carrier,crude oil tankers,date,draft prospectus,DWT,equity,General,government of india,ICICI,IDFC,issue,largest shipping companies,lead,ministry,offshore supply vessels,president of india,product tankers,prospectus,rsquo,sbi,share,shipping corporation of india,shipping corporation of india sci,subscription,weightShipping Corporation of India (SCI), one of India’s largest shipping companies in terms of Indian flagged tonnage, will be coming out with its follow-on public offer (FPO) of 8,46,90,730 equity shares on November 30, 2010. As per draft prospectus, the issue comprises of a fresh issue of 42,345,365 equity shares...Educating Investors