Private sector shipping firm, Great Eastern Shipping Company Ltd said that it is planning to raise Rs 500 crore via Unsecured Non-Convertible Debentures (NCDs) on private placement basis. “The Debenture Issue Committee at its meeting held on January 16, 2017 has approved the issue of 5000 Unsecured Non-Convertible Debentures of Rs. 10 lac each aggregating to Rs. 500 crore by way of private placement,” the company said in a filing to the Bombay Stock Exchange. 

The said issues will be listed on WDM segment of National Stock Exchange (NSE). Credit rating agency, Credit Analysis & Research has assigned ‘AAA’ rating to the said issue, while Brickwork Ratings India has assigned ‘AAA’ rating to the said issue. Meanwhile, shares of the company were trading at Rs 385.2 apiece, up 1.09%  from the previous close at 12:34 hours on BSE.

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