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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Mahindra Capital DSP Merrill Lynch and Edelweiss Capital, have decided not to proceed with the Issue, and hence have withdrawn the DRHP,” said a company's communiqué to BSE.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.
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