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
Company |
| Name | Promoters | Office | Competitor | Website |
| 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 |
