Shreeji Shipping Global IPO Day 1: The initial public offering of Shreeji Shipping Global Ltd, which offers shipping and logistics solutions for dry bulk cargo, will be open for subscription from August 19 to August 21. Shreeji Shipping Global IPO price band has been established between ₹240 and ₹252 per share.
On August 18, the company raised over ₹123 crore from anchor investors just one day before the public subscription for its initial share sale commenced. Participants in the anchor round included Bank of India Mutual Fund (MF), Morgan Stanley Asia (Singapore) Pte, BNP Paribas Financial Market — ODI, Aarth AIF Growth Fund, Viney Growth Fund, Khandelwal Finance, Golden Equity Fund Series I, SB Opportunities Fund II, Invicta Continuum Fund I, and Rajasthan Global Securities, according to a circular posted on the BSE website.
The main company of Jamnagar-based Shreeji Group primarily targets non-major ports and jetties, especially along India’s west coast.
As per a D&B Report, the amount of cargo processed at ports throughout the country is projected to increase at an annual rate of 10.80 percent, reaching 2,849 MMTs by FY30, up from 1,540 million metric tons (MMTs) in FY24.
Ports in Gujarat are anticipated to experience even more rapid growth, with cargo expected to expand to 720 MMTs by FY30 from 317.20 MMTs in FY24, which signifies an annual growth rate of 17.50 percent.
India boasts a lengthy coastline with 12 major ports and 217 minor ports. Among these, 78 non-major ports are responsible for handling cargo, while the remainder are utilised for fishing.
Shreeji Shipping Global IPO subscription status
Subscription for the public issue will open at 10:00 IST during Tuesday’s deals.
Shreeji Shipping Global IPO Review
As per Canara Bank Securities, the company’s growth path is bolstered by strong long-term institutional relationships, consistent revenue streams, and favorable trends in the sector. With a P/E ratio of 25.64x, the Shreeji Shipping Global IPO is seen as attractively priced when evaluated against its operational scale and profitability metrics. Major risks include the cyclical nature of global trade, variations in commodity demand, and dependence on specific geographic areas. Considering its robust operational performance, strong brand reputation, and appealing valuation, the brokerage advises a SUBSCRIBE rating for investors with a long-term perspective.
Swastika Investmart indicated that the company is engaged in the shipping and logistics industry, with a particular emphasis on dry bulk cargo. Its operations extend across 20 ports and jetties in India, along with one port located in Sri Lanka. Although revenue has experienced a downward trend in recent years, profitability has improved due to efficient cost management and specialised service offerings. Based on the latest financial results, the valuation of the issue appears reasonable. Investors with a medium to long-term perspective might consider making an investment.
Shreeji Shipping Global IPO details
Shreeji Shipping Global IPO consists solely of a fresh issuance of 1.63 crore equity shares, with no components of an offer for sale (OFS). At the highest point of the price range, the company anticipates raising ₹411 crore from the public offering.
The firm intends to allocate ₹251.2 crore of the IPO proceeds for acquiring dry bulk carriers in the supramax category from the secondary market, and ₹23 crore for settling existing debt.
Beeline Capital Advisors Pvt Ltd and Elara Capital (India) Pvt Ltd are the lead managers overseeing Shreeji Shipping’s public issue.
Shreeji Shipping Global IPO GMP today
Shreeji Shipping Global IPO grey market premium is +37.5. This indicates Shreeji Shipping Global share price were trading at a premium of ₹37.50 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Shreeji Shipping Global share price was indicated at ₹292.5 apiece, which is 14.71% higher than the IPO price of ₹255.
Following the grey market trends observed in the last 12 sessions, today’s IPO GMP shows an upward trend and anticipates a robust listing. The minimum GMP recorded is ₹0.00, while the maximum is ₹30, as stated by experts.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
