Varun Shipping raises Rs 233cr at Rs 75/shr

Varun Shipping said today a sub-committee of its board has issued and alloted 3.10 crore shares including 2.25 crore shares to foreign investors, a venture fund and founders at Rs 75 a share, to raise Rs 232.50 crore.

According to an official release issued by the company to the BSE today, the break-up of allotment of equity shares is: 1,51,50,000 equity shares to Caledonia Investments, 16,50,000 equity shares to Sofina S.A., 12,00,000 equity shares to ICG Q - a sub-account of Kotak Mahindra (UK), 12,00,000 equity shares to Societe Generale, 15,00,000 equity shares to IL&FS Trust Company and 18,50,000 equity shares to promoter group firm Khatau International.

Further, the committee of directors has also allotted 85 lakh optionally fully convertible warrants (OFCWs) of Rs 75 each for cash aggregating to Rs 63.75 crore, the release added.