Great Eastern Shipping Company has contracted to acquire a secondhand Kamsarmax dry bulk carrier with a deadweight tonnage of 81,609 DWT. The 2019-built vessel is scheduled to join the company's fleet in Q3FY27, financed entirely from internal accruals.

Vessel acquisition details

The following table summarises the key parameters of the acquisition:

The Kamsarmax class represents a segment of large dry bulk carriers designed to transit the Port of Kamsar in Guinea, typically characterised by their capacity to handle bulk commodities such as coal, grain, and other dry cargo. The 2019 build year places the vessel among relatively modern tonnage within this vessel class.

Fleet expansion context

The induction of this vessel marks an addition to Great Eastern Shipping Company's dry bulk fleet. The acquisition reflects the company's continued engagement in expanding its shipping capacity through the procurement of modern dry bulk tonnage.

The company's current owned fleet stands at 40 vessels, aggregating 3.24 mn dwt. This comprises:

• 25 Tankers (5 Crude Tankers, 16 Product Tankers, 4 LPG Carriers)
• 15 Dry Bulk Carriers (2 Capesize, 10 Kamsarmax, 1 Ultramax, 2 Supramax)

The company reported its current capacity utilization is close to 100%.

Additionally, the company has contracted to acquire one additional secondhand Kamsarmax Dry Bulk Carrier, with that transaction also expected to be completed in Q3FY27.

Great Eastern Shipping Company has commenced its ₹900 crore open market share buyback, purchasing 2,65,000 equity shares on the first trading day, September 7, 2026. The company acquired the shares at an average price of ₹1,371.67, well below the maximum ceiling of ₹1,530 per share.

Buyback details

The buyback is being executed through the open market route using the stock exchange mechanism. Kotak Mahindra Capital Company Limited serves as the Manager to the Buyback, while Kotak Securities Limited acts as the registered broker for executing trades.

Execution structure and timeline

At the maximum buyback price of ₹1,530, the company plans to repurchase an indicative maximum of 58,82,352 equity shares. This represents 4.12% of the total paid-up equity share capital as of March 31, 2026.

The company is required to utilize at least 75% of the maximum buyback size, amounting to a minimum outlay of ₹675 crore. Based on this minimum size and the maximum price, the indicative minimum number of shares to be purchased is 44,11,764. Additionally, the company must deploy at least 40% of the maximum buyback size (₹360 crore) within the initial half of the 66 working day period.

The buyback offer opened on September 4, 2026, and must close within 66 working days from the opening date. The last date for completion is December 11, 2026, unless closed earlier by the Board after meeting the minimum buyback obligation.

Daily activity: September 7, 2026

On the first reported trading day, Great Eastern Shipping repurchased a total of 2,65,000 shares through its broker, Kotak Securities Limited. The purchases were split across exchanges, with 38,000 shares bought on the BSE and 2,27,000 on the NSE.

The cumulative total of equity shares bought back as on September 7, 2026, stands at 3,98,517. This figure includes 1,33,517 shares repurchased prior to this reporting period. There were no closed-out positions reported for the day.

Shareholding pattern impact

Promoters and persons in control are excluded from participating in the buyback under SEBI regulations. The pre-buyback shareholding pattern as of August 21, 2026, shows promoters holding 30.07%, foreign investors at 29.83%, mutual funds and financial institutions at 12.49%, and others at 27.60%.

The maximum buyback size represents 7.19% of the aggregate fully paid-up equity share capital and free reserves as per standalone audited financials for March 31, 2026, and 6.34% based on consolidated figures. Since this is below the 10% threshold, shareholder approval is not required.

Financial context

The buyback is funded from internal accruals and free reserves. As of June 30, 2026, the company reported a standalone net worth of ₹14,917 crore and total debt of ₹799 crore, resulting in a debt-equity ratio of 0.05. For the three months ended June 30, 2026, standalone profit after tax stood at ₹1,157 crore.

Trading window closure

Pursuant to the Company’s Code of Conduct for Prohibition of Insider Trading, the trading window for transacting in the securities of the Company remained closed from August 25, 2026 till August 29, 2026. Investors were advised that no trades could be executed during this period.

An escrow account has been opened with Kotak Mahindra Bank Limited, with ₹225 crore (25% of the maximum buyback size) deposited as security for performance obligations.