The issue comprises Rs 400 crore of fresh issue of equity shares and Rs 200 crore worth of offer for sale by FIH Mauritius Investment, Thomas Pinto and Leena Pinto.
The company aims to utilise the proceeds from the fresh issue of equity share for purchase of one very large crude container, better known as VLCC, and a medium-range vessel for a combined cost of Rs 352.4 crore.
JM Financial and IIFL Securities are acting as the book running lead managers for the company’s issue.
In the quarter ended December, the logistics company reported a net profit of Rs 119.5 crore, which was 49 per cent higher than the March quarter for which the company has provided latest data.
In the previous three fiscal years, the company’s revenue and operating profit grew 31.3% and 14%, respectively, on an annual basis. Seven Islands’ return on average equity and operating profit margin is among the highest in the seaborne logistics industry, according to the company’s DRHP.
