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Rumours of a private placement have been dogging the counter of Varun Shipping in the recent past. The stock, however, in keeping with the overall bearish trend, ended the day at Rs 79, down 2.41 per cent, on the BSE.

As per market buzz, the company is considering the private placement route to aid its expansion process. It is also looking to list on the Singapore Exchange soon.

Sources said the company, which is primarily in the LPG transportation business, plans to invest $80-100 million for acquiring offshore assets including platform supply vessels and specialised vessels.

Deeptha Rajkumar

More Stories on : Stocks | Private Placement | Shipping | Ear to the ground

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