Varun Shipping files draft prospectus with S'pore monetary authority

Mumbai, Mar 31 (UNI) Varun Shipping Company has lodged its draft prospectus with the monetary authority of Singapore, in connection with its proposed issue of Singapore depository shares.

Informing the BSE about the development, Varun Shipping said in the prospectus that its managing directors believed that barring unforeseen circumstances, its profit after tax under Indian GAAP for the three month period ended today, would exceed Rs 29.96 crore, being its profit after tax computed under Indian GAAP, which was achieved for the three month period ended March 31 last year.

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