Shreeji Shipping Global IPO opens today at ₹240-252
Shreeji Shipping Launches ₹410.71 Crore IPO Today
Shreeji Shipping Global is set to launch its initial public offering (IPO) today, aiming to raise ₹410.71 crore. The IPO features a price band of ₹240 to ₹252 per share and will remain open until Thursday. The company plans to utilize the funds primarily for acquiring Supramax dry bulk carriers and repaying existing borrowings.
IPO Details and Allocation
The IPO consists of 1.63 crore shares, with a minimum lot size of 58 shares. Shreeji Shipping intends to allocate approximately ₹251.18 crore from the proceeds for the acquisition of vessels in the Supramax category from the secondary market. Additionally, the company aims to use ₹23 crore for the prepayment or repayment of certain outstanding borrowings. The remaining funds will be directed towards general corporate purposes.
In terms of allocation, 50% of the issue is reserved for Qualified Institutional Buyers (QIBs), while 35% is set aside for retail investors. The remaining 15% is designated for Non-Institutional Investors (NIIs). On Monday, Shreeji Shipping successfully mobilized over ₹123 crore from anchor investors by allotting 48.89 lakh equity shares at ₹252 each. Notable participants in the anchor round include Bank of India Mutual Fund, Morgan Stanley Asia, and BNP Paribas Financial Market, among others.
Company Overview and Future Plans
Shreeji Shipping Global Ltd specializes in shipping and logistics solutions for dry bulk cargo, operating at various ports and jetties in India and Sri Lanka. As of March 31, 2025, the company boasts a fleet of over 80 vessels, including barges, mini bulk carriers, tugboats, and floating cranes. Additionally, it operates more than 370 pieces of earthmoving equipment, such as excavators and tippers, to serve its clients.
While Shreeji Shipping provides services at major ports, its primary focus lies on non-major ports and jetties, particularly along the West Coast of India. Beeline Capital Advisors Private Limited and Elara Capital (India) Private Limited are serving as the book-running lead managers for the IPO, guiding the company through this significant financial milestone.
