The Great Eastern Shipping Company Limited has informed the Exchange about the Board has approved granting a term loan upto Rs. 425 crores to Greatship (India) Limited( GIL ), a wholly owned subsidiary of the Company. The Agreement for the same will be executed in due course.
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The board of The Great Eastern Shipping Company approved unaudited financial results for the quarter ended June 30, 2025, and declared an interim dividend of Rs. 7.20 per equity share for FY 2025-26. The record date for the dividend is August 6, 2025, with payments to be made on or after August 22, 2025. Separately, the board approved granting a term loan of up to Rs. 425 crores to Greatship (India) Limited (GIL), its wholly owned subsidiary, to help GIL prepay its existing External Commercial Borrowing of USD 70.9 million (repayable in installments up to March 2028). The loan carries an interest rate of 7.50% per annum, has a 2.5-year term, and is unsecured. The company stated this restructuring is expected to result in substantial savings at the group level. The transaction qualifies as a related party transaction but has been carried out at arm's length.
The interim dividend is a positive cash return for shareholders. The inter-corporate loan is essentially a group-level debt restructuring to replace costlier foreign currency borrowing with cheaper rupee funding, which should lower the consolidated interest burden without affecting minority shareholders (GIL is fully owned).