Shipping Corporation FPO Issue Price set - Indian IPO Blog

Tuesday, December 7, 2010

Shipping Corporation FPO Issue Price set

Shipping Corporation of India has fixed the issue price of its recently concluded FPO at Rs.140/- per equity share, which is at the upper end of the price band of Rs.135/- to Rs.140/- per equity share. As announced earlier, the Retail Category is entitled to a discount of 5% on the Issue Price. Consequently, the Retail Investors would get a discount of Rs.7/- per equity share and Issue Price would be Rs.133/- per equity share in case of Retail Category

Shipping Corporation of India FPO had received a very good response with the FPO getting overbid 4.92 times on an overall basis and 6.56 times in the Retail Category, the larger part of the subscription flowing in on the closing day in the Retail Category. The subscription in the QIB category, for which the offer closed for subscription on Thursday, December 2, 2010 had been quite firm at 4.19 times

Shipping Corporation of India Ltd (SCI) is a “Navratna” company and is India’s largest shipping companies

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