Seaways promoters buyout IDFC stake in the company
The promoters of Seaways Shipping & Logistics Ltd have bought out the entire stake of 24 per cent that IDFC Private Equity (IDFC PE) held in the company. IDFC PE has now completely exited from Seaways. Seaways had earlier planned for an Initial Public Offering, and had filed the DRHP last year. This has been deferred, based on the strong performance in 2016-17, and the encouraging results in the current financial year. The company is planning to go public in FY2018-19.