MUMBAI: Great Eastern Shipping Company announced that the debenture issue committee has approved raising up to Rs 150 crore via issuance of non- convertible debentures on private placement basis. "The debenture issue committee at its meeting held today has approved the issue of 1,500 unsecured non-convertible debentures of Rs 10 lakh each aggregating to Rs 150 crore by way of private placement,"
Great Eastern Shipping said in a BSE filing. Tenure of the NCDs will be 10 years and will carry coupon/interest rate of 8.25 per cent per annum. The company has two main businesses --shipping and offshore.