India's Great Eastern Shipping has successfully raised INR 3bn ($45.95m) in a non-convertible debenture sale.
The debt carries 8.85% interest.
The fundraiser was proposed last month.
The owner has been splashing its cash on second-hand vessels in recent weeks.
It said in March it had agreed to acquire an LPG vessel of about 36,567 cbm built in 1996.
The owner did not reveal a price, but said it would be delivered in the first quarter of its 2019 financial year.
