Greatship India Ltd (GIL), a subsidiary of Great Eastern Shipping Company, on Friday said it plans to withdraw its draft prospectus with SEBI in light of prevailing market conditions.
“GIL, in consultation with its lead managers Kotak Mahindra Capital DSP Merrill Lynch and Edelweiss Capital, have decided not to proceed with the Issue, and hence have withdrawn the DRHP,” said a company's communiqué to BSE.
GIL had proposed to raise around Rs 150-200 crore through an initial public offering.
Greatship is a service provider in the offshore energy exploration and production domain and its parent, Great Eastern Shipping Co, provides shipping and offshore services.
Shares of Great Eastern Shipping Co was down 0.16 per cent to Rs 278.55 in on the BSE on Friday.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.