Shipping Corpn FPO price band at Rs 135-140

Our Bureau

New Delhi, Nov. 26

The price band for the follow-on public offer of Shipping Corporation of India (SCI) has been fixed at Rs 135-140 a share. This was decided by an Empowered Group of Ministers here on Friday. The issue will open on Tuesday.

The price band is at a discount of 3.4-6.8 per cent to Friday's closing price of the scrip on the Bombay Stock Exchange. Retail individual bidders and eligible employees who apply for allotment of shares out of the quota reserved for them will get a 5 per cent discount on the final price of sale, said a Government official.

SCI will raise between Rs 1143.32 crore and Rs 1185.67 crore through the public issue, depending on the final price. On offer will be 84.69 million equity shares — half of which will be offloaded by the company and the other half will be issued afresh. The Government shareholding in SCI is at 80.12 per cent, which will go down to 63.75 per cent after the public issue.

The company's shares closed at Rs 145.40, down 0.89 per cent on the BSE today.

(in Cr.)	2009 - 10	2008 - 09	2007 - 08	2006 - 07	2005 - 06
Income Statement
Revenue	3,463.12	4,166.64	3,726.84	3,703.44	3,531.02
Other Income	439.57	395.19	357.52	506.92	53.47
Total Income	3,902.69	4,561.83	4,084.36	4,210.36	3,584.49
Expenditure	-2,994.08	-3,118.69	-2,815.61	-2,717.12	-2,259.03
Interest	-52.53	-64.67	-61.63	-80.13	93.07
PBDT	856.08	1,378.47	1,207.12	1,413.11	1,418.53
Depreciation	-380.11	-323.88	-303.18	-303.08	-303.50
PBT	475.97	1,054.59	903.94	1,110.03	1,115.03
Tax	-99.06	-113.92	-90.04	-95.45	-72.83
Net Profit	376.91	940.67	813.90	1,014.58	1,042.20
Equity	423.45	423.45	282.30	282.30	282.30
Reserves	5,913.55	5,785.00	5,349.80	48,174.30	4,077.82
EPS	8.90	22.21	28.83	35.94	36.92
CEPS	17.88	29.86	--	--	--
OPM %	26.24	34.64	34.04	40.32	37.54
NPM %	10.88	22.58	21.84	27.40	29.52

Edited by KetanAdmirer - 26/Nov/2010 at 11:10am

WHAT HAS BEEN 52 WEEK HIGH N LOW FOR SCI?

BV IS 140 PE IS LOW ,Div yield is 3.75% for retail investors @ 133 n the prospects seems to be better for march 11 for shipping cos as commodity is rising

the main risk is cyclical nature of the industry.MOIL IPO will be heavily oversubscribed & maybe that SCI can give better returns.

Views invited

I agree considering the over subscription in MOIL the SCI issue would generate better returns

Originally posted by TCSer WHAT HAS BEEN 52 WEEK HIGH N LOW FOR SCI?BV IS 140 PE IS LOW ,Div yield is 3.75% for retail investors @ 133 n the prospects seems to be better for march 11 for shipping cos as commodity is risingthe main risk is cyclical nature of the industry.MOIL IPO will be heavily oversubscribed & maybe that SCI can give better returns.Views invited