Shares of Mercator may see buying interest at the bourses following sale of its floating storage and offloading unit (FSO) ship, Prem Pride, built in 1999, for a total consideration of ₹49.54 crore.
The proceeds of the sale will be used to reduce the company’s debt, it said in a notice to the stock exchanges. The deal was concluded on January 16. The buyer does not belong to the promoter/promoter group companies and does not fall within the definition of related-party transactions.