Se­aways pro­mot­ers buy­out IDFC stake in the com­pany

Maritime Gateway - - News -

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.

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