Greatship (India) Ltd, a subsidiary of Great Eastern Shipping Company, today said it plans to tap the capital market through an initial public offer and has filed a draft prospectus with market regulator Sebi.
Greatship has proposed to make an initial public offer of its equity shares and filed a draft red herring prospectus with the Securities and Exchange Board of India on May 12, the company's parent Great Eastern Shipping Co. Said in a filing to the Bombay Stock Exchange (BSE) today.
The company, however, did not reveal about the amount it aims to raise through the IPO.
Greatship is a service provider in the offshore energy exploration and production domain and its parent, Great Eastern Shipping Co, provides shipping and offshore services.
Shares of Great Eastern Shipping Co jumped 4.54 per cent and were quoting at Rs 312.20 in afternoon trade on the BSE.