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Friday, Dec 22, 2006

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Great Offshore debuts at Rs 702

Our Bureau

Mumbai , Dec. 21

Great Offshore Ltd, born out of the demerger of Great Eastern Shipping's offshore business, was listed at Rs 702 on the BSE. The company touched an intra-day high at Rs 800 before closing at Rs 727.05.

Total of 45,65,383 shares were traded on the BSE today.

The company had entered the capital markets with an issue of 3.81 crore equity shares at Rs 10 each.

It may be recalled that GE Shipping (the combined entity) closed at Rs 336 on the BSE on November 7. The GE Shipping stock got listed (after the de-merger) at Rs 222.70 on November 27 and fell subsequently to close at Rs 206 on Thursday.

According to de-merger plan, 100 shares owned in GE Shipping was reorganised to 80 shares of GE Shipping and 20 of Great Offshore.

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