An issue of Rs 1,164.73 crore was created by the Shipping Corporation FPO. The Shipping Corporation’s first-party offer (FPO) period ran from November 30, 2010, to December 3, 2010. On December 15, 2010, the shares were listed on the BSE and NSE. The price range for Shipping Corporation FPO shares is ₹135 to ₹140. An application must have a minimum lot size of 50 shares. Retail investors are obliged to invest a minimum of ₹7,000.
The largest shipping company in India, Shipping Corporation of India Ltd. (SCI), was founded in 1950 and currently holds approximately 35% of the market. SCI is recognized as a Navratna. The Shipping Corporation of India has bought 29 vessels that will be put into service during the next three years, bringing its fleet to 74 ships with a combined gross weight tonnage (DWT) of 5.11 million. The fleet of SCI consists of dry bulk carriers, offshore supply vessels, phosphoric acid and chemical carriers, very large crude carrier (VLCC) tankers, and
crude oil tankers, product tankers, container boats, passenger-cum-cargo vessels, and so on. Governmental organizations, major industrial businesses, foreign oil companies, and public sector projects make up the majority of SCI’s clientele.
Shipping Corporation FPO Details
| IPO Date | November 30, 2010 to December 3, 2010 |
| Listing Date | December 15, 2010 |
| Face Value | ₹10 per share |
| Price Band | ₹135 to ₹140 per share |
| Lot Size | 50 Shares |
| Total Issue Size | 84,690,730 shares (aggregating up to ₹1,164.73 Cr) |
| Issue Type | Book Built Issue FPO |
| Listing At | BSE, NSE |
Shipping Corporation FPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 50 | ₹7,000 |
| Retail (Max) | 28 | 1400 | ₹196,000 |
Shipping Corporation FPO Reservation
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | – | NA |
| QIB Shares Offered | 42,133,638 (49.75%) | NA |
| NII (HNI) Shares Offered | 12,640,091 (14.92%) | |
| Retail Shares Offered | 29,493,547 (34.83%) | 589,870 |
| Employee Shares Offered | 423,454 (0.50%) | NA |
| Total Shares Offered | 84,690,730 (100%) |
Shipping Corporation FPO Company Financials
| Particulars | 31-Mar-10 | 31-Mar-09 | 31-Mar-08 | 31-Mar-07 | 31-Mar-06 |
|---|---|---|---|---|---|
| Total Income | 39,062 | 45,578 | 40,318 | 42,009 | 38,476 |
| Profit After Tax (PAT) | 3,934 | 9,595 | 7,546 | 10,161 | 11,166 |
Objects of the Issue (Shipping Corporation FPO Objectives)
The object of the issue is to carry out the divestment of 42,345,365 equity shares by the selling shareholder. The proceedings from this issue will be used to:
- Part funding the equity portion for the acquisition of certain vessels; and
- General corporate purposes
Shipping Corporation FPO Listing Details
| Listing Date | December 15, 2010 |
| BSE Script Code | 523598 |
| NSE Symbol | SCI |
| ISIN | INE109A01011 |
| Final Issue Price | ₹140 per share |
Shipping Corporation FPO Listing Day Trading Information
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹140.00 | ₹140.00 |
| Open | ₹136.90 | ₹138.00 |
| Low | ₹132.15 | ₹132.25 |
| High | ₹138.00 | ₹139.00 |
| Last Trade | ₹132.45 | ₹132.60 |
Shipping Corporation of India Ltd Contact Details
Shipping Corporation of India Ltd
Shipping House,
245, Madam Cama Road,
Mumbai (400021), Maharashtra, India
Phone: 91 22 2202 6666
Website: http://www.shipindia.com
Shipping Corporation FPO Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: sci.fpo@karvy.com
Website: https://kosmic.kfintech.com
Shipping Corporation FPO FAQs
Q1. What is the Shipping Corporation FPO?
Ans. Shipping Corporation FPO is a main-board FPO of 84,690,730 equity shares of the face value of ₹10 aggregating up to ₹1,164.73 Crores. The issue is priced at ₹135 to ₹140 per share. The minimum order quantity is 50 Shares. The FPO opens on November 30, 2010, and closes on December 3, 2010. Kfin Technologies Limited is the registrar for the FPO. The shares are proposed to be listed on the BSE and NSE.
Q2. When Shipping Corporation FPO will open?
Ans. The Shipping Corporation FPO opens on November 30, 2010 and closes on December 3, 2010.
Q3. What is the lot size of Shipping Corporation FPO?
Ans. Shipping Corporation FPO lot size is 50 Shares, and the minimum amount required is ₹7,000.
Q4. When is Shipping Corporation FPO allotment?
Ans. The finalization of Basis of Allotment for Shipping Corporation FPO will be done on [.], and the allotted shares will be credited to your demat account by [.].
Q5. When is Shipping Corporation FPO listing date?
Ans. The Shipping Corporation FPO listing date is on December 15, 2010.
