Indian tanker owner Seven Islands Shipping has filed preliminary papers for an IPO on home soil, aiming to raise $68.5m, much of which will go on adding a VLCC to its fleet.
Private investor Wayzata Investment Partners is coming in for more than half of the shares on offer.
Edelweiss Financial Services has been appointed as the sole book running lead manager to the issue.
Mumbai-based Seven Islands Shipping was founded in 2002. Its current fleet comprises three crude oil tankers and eight product carriers.