Shreyas Shipping book-building for delisting complete

29 Sep 2023 CW Team

Shreyas Shipping, a prominent player in the shipping industry, witnessed a remarkable upswing of 20% in its shares on Tuesday, following the successful culmination of the book-building process for the company's delisting from stock exchanges. Shareholders demonstrated keen interest in the delisting offer, with approximately 4.3 million shares tendered, surpassing the minimum requirement of 4.07 million shares.

Transworld Holdings (THL), the entity that serves as the promoter of Shreyas Shipping, initially announced its intention to acquire shares from public shareholders in May at an indicative price of $338. Subsequently, this indicative price was revised to $375 earlier this month. Delisting regulations stipulated a floor price of $292 per share.

However, the outcome of the book-building process exceeded expectations, with the cut-off price reaching a substantial level exceeding $800 per share. In accordance with the recently revised norms laid out by the Securities and Exchange Board of India (Sebi), promoters or acquirers are now afforded the option to present a counteroffer if they succeed in acquiring 90% of the equity capital of the company post-offer.

At the onset of the delisting process, promoters held a 70.43% stake in Shreyas Shipping and aimed to secure 4.07 million shares through the reverse book-building method to attain the desired 90% ownership.

The surge in share prices and robust participation in the delisting process reflect the evolving dynamics of India's financial markets and the response of investors to strategic moves within the corporate landscape.

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..