Shipping Corporation of India IPO on Nov 30

Online, November 24, 2010 (Newswire.com) - Shipping Corporation of India (SCI), a company of the largest port in India in terms of tonnage flying the Indian flag will come with its follow on public offer (FPO) of 8,46,90,730 equity shares on November 30, 2010.

According to the draft prospectus, the issue comprises of a fresh issue of 42,345,365 equity shares by company and an offer for sale of 42,345,365 equity shares by the President of India, acting through the ministry of shipping, government of India. The issue comprises a net issue of 84,267,276 shares to the public equity capital and reserves of up to 423,454 equity shares for subscription by eligible employees.

Shipping Corporation has a share of around 35% of the Indian flag tonnage of 30 June 2010, according to the website of the Directorate General of Shipping, Government of India (DG Shipping). On September 30, 2010, SCI owned a fleet of 74 vessels of 5.11 million dead weight tonnage (DWT).

The issue will close for subscription on December 3. To subscribe this issue open a demat account, retail investment limit of Rs 2, 00,000 is encouraging after Coal India IPO.

Visit: http://www.onlinestocktrading9.in to open demat account