Great Eastern Shipping shares jump over 4% on fund raising

Shares of Great Eastern Shipping Company today rose by over 4 per cent after the company raised Rs 500 crore via issuance of non-convertible debentures (NCDs) on private placement basis.
The stock gained 4.39 per cent to end at Rs 401.70 on BSE. Intra-day, it soared 5.24 per cent to Rs 405 -- its 52-week high.
On NSE, it jumped 4.10 per cent to close at Rs 402.15.
"The Debenture Issue Committee has...Allotted 7.99 per cent 5,000 unsecured non-convertible debentures of face value of Rs 10 lakh each aggregating to Rs 500 crore in two tranches of Rs 250 crore each," Great Eastern Shipping said in a BSE filing.

The company has two main businesses -- shipping and offshore.