Indian tanker owner Seven Islands Shipping is set to move into the VLCC business with an INR 6bn ($82m) initial public offering in Mumbai.
Major shareholder Fairfax India Holdings, owned by Canadian billionaire Prem Watsa's Fairfax Financial Holdings, has filed to sell 200m existing shares and 400m new ones.
A draft prospectus has been lodged with the Securities and Exchange Board of India, Fairfax said.
