Shreeji Shipping Global IPO Day 1 Live: The public offering of Shreeji Shipping Global Ltd, which provides shipping and logistics solutions for dry bulk cargo, will be available for subscription from August 19 to August 21. Shreeji Shipping Global IPO price band has been set between ₹240 and ₹252 per share.
The Shreeji Shipping Global IPO comprises only a fresh issuance of 1.63 crore equity shares, with no offer for sale (OFS) components included. At the upper end of the price band, the company expects to raise ₹411 crore through the public offering.
The company plans to use ₹251.2 crore of the IPO funds to purchase dry bulk carriers in the supramax category from the secondary market, and ₹23 crore will be allocated to pay off existing debt.
Beeline Capital Advisors Pvt Ltd and Elara Capital (India) Pvt Ltd are the lead managers managing the public issue for Shreeji Shipping.
The parent company of Jamnagar-based Shreeji Group primarily focuses on non-major ports and jetties, particularly along the western coast of India. According to a D&B Report, the volume of cargo handled at ports across the country is expected to grow at an annual rate of 10.80 percent, reaching 2,849 million metric tons (MMTs) by FY30, up from 1,540 MMTs in FY24.
(Stay tuned for more updates)
