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Dredging Corporation To Raise Funds Through Bonds

By : Ahemad Shaikh | 11 March 2013
Industry : Infrastructure
Category : DEBT

Dredging Corporation of India is planning to raise R500 Cr by tax-free bonds. The tenure of the bonds is 10 year and 40% of the issue is earmarked for retail investors.

The bonds offer coupon rate of 6.47% for QIBs, domestic corporate and HNIs, while the coupon rate is 7.47% for retail individual investors. The bonds have been rated 'BWR AA+ (SO) (Outlook Stable)' by Brickwork, CARE AA (Double A) by CARE.

Incorporated in 1976, Dredging Corporation of India provides integrated dredging services to major and non-major ports, Indian Navy and other maritime organizations in India. GoI held 78.56% of the paid up capital of DCI as on September 30, 2012.

DCI is engaged in capital dredging, maintenance dredging, beach nourishment, reclamation and environmental protection services with majority of the revenues (approximately 74% in FY12) from maintenance dredging.

Dredging Corporation On BSE

In terms of fleet, DCI owns 10 Trailer Suction Hopper Dredgers (TSHD) with aggregate capacity of 54,000 Cu.m, three Cutter Suction Dredgers (CSD) with aggregate capacity of 38,126 Cu.m and one Back-Hoe Dredger (BHD). Apart from these, DCI owns other ancillary crafts including three Survey Launches.

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KVEZAR VIEW

  DEAL TRACKER FOR
DateTransactionTypeBuyerSize ($mn)
2000-02-02  Dredging Corporation of India Limited - IPO IPO / Offerings   
 
 
  Profiles

Company

NamePromotersOfficeCompetitorWebsite
Dredging Corporation of India Limited  The President of India   Core 2, 1st Floor Scope Minar, Plot No 2A & 2B Laxmi Nagar, District Center     www.dredge-india.com
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