Seven Islands Shipping gets SEBI nod for IPO

Reportedly, Seven Islands Shipping Limited has received a nod from the Securities and Exchange Board of India (SEBI) to invite an IPO. The company filed its draft prospectus with SEBI on September 29, 2017. According to the draft prospectus, the public issue will comprise a fresh issue of shares worth Rs 2 billion, besides a secondary market sale of shares worth Rs 2.5 billion. The existing promoters of the company, including Wayzata Investment Partners, are expected to make a partial exit through the IPO.

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