||The Shipping Corporation of India was established on October 2nd, 1961, by the amalgamation of Eastern Shipping Corporation and Western Shipping Corporation.Starting out as a marginal Liner shipping Company with just 19 vessels, the SCI has today evolved into the largest Indian shipping Company.
The SCI also has substantial interests in various segments of the shipping trade. SCI’s owned fleet includes Bulk carriers, Crude oil tankers, Product tankers, Container vessels, Passenger-cum-Cargo vessels, Phosphoric Acid / Chemical carriers, LPG / Ammonia carriers and Offshore Supply Vessels. Sailing through for nearly five decades, the SCI today has a significant presence on the global maritime map.
The stock which was at a monthly high of 180 or so and a weekly high of 156 or so is trading at 145 or so , Not sure if this FPO will even give a profit that power grid gave to the investors.
About SCI FPO
|THE SHIPPING CORPORATION OF INDIA LIMITED
|Symbol – Series
||Nov 30, 2010 to Dec 3 2010 ( **for QIB bidders issue closes on Dec 2, 2010)
|Post issue Modification Period
||Further public issue of 84,690,730 equity shares of Rs. 10 each
||100% Book Building
||Rs 135 to Rs 140
||50 Equity Shares
|Minimum Order Quantity
||50 Equity Shares
|Maximum Subscription Amount for Retail Investor
|IPO Market Timings
||10.00 a.m. to 5.00 p.m.
|Book Running Lead Manager
||SBI Capital Markets Limited , IDFC Capital Limited, and ICICI Securities Limited
||SBICAP Securities Limited and Sharekhan Limited
||FI,IC,MF,FII,OTH,CO,IND,NOH and EMP
|No. of Cities with Bidding Centers
|Name of the registrar
||Karvy Computershare Private Limited
After the successful PSU IPO from Coal India , Powergrid ipo has come out with FPO and they want to use all the coal india money that was refunded and it worked out well the FPO was subscribed fully on the first day itself.
»» Issue Open: Nov 09, 2010 – Nov 12, 2010
»» Issue Type: 100% Book Built Issue FPO
»» Issue Size: 841,768,246 Equity Shares of Rs. 10
»» Issue Size: Rs. 7,155.03 – 7,575.91 Crore
»» Face Value: Rs. 10 Per Equity Share
»» Issue Price: Rs. 85 – Rs. 90 Per Equity Share
»» Market Lot: 65 Shares
»» Minimum Order Quantity: 65 Shares
»» Listing At: BSE, NSE
Objective of the Issue:
To meet the capital requirements for the implementation of certain identified transmission projects (“Identified Projects”); and general corporate purposes.
Government informed today that it has cleared the proposed 20 Percent disinvestment in SAIL Ltd ,that would fetch a total of Rs 16,000 .They will follow the two-tranche disinvestment, the government and the company would get Rs 8,000 crore each.Post disinvestment, the government’s equity will fall to 69 per cent from 85.82 per cent currently.
Sail FPO stake Sale
The stake sale will take place in two tranches of 10 per cent each, Chidambaram said, adding that each time 5 per cent will be through further public offer (FPO) and another 5 per cent through sale of government equity.