The initial public offering (IPO) of Shreeji Shipping Global received a healthy response on its first day of bidding, August 19, with investors placing bids for 2.43 crore shares against the total offer of 1.14 crore shares, resulting in an overall subscription of 2.13 times by the end of Day 1, according to exchange data.
Non-institutional buyers showed strong interest, with their portion subscribed 3.54 times, while the retail investors’ portion was booked 2.13 times. The QIB (Qualified Institutional Buyers) portion was subscribed just 1.09 times.
The company ₹410 crore through the offering”>aims to raise ₹410 crore through the offering, which is entirely a fresh issue. The IPO price band is set at ₹240 to ₹252 per share. Retail investors can apply for a minimum of 58 shares in one lot and can apply for up to 13 lots. At the upper end of the IPO price band, ₹252 apiece, retail investors are required to make a minimum investment of ₹14,616 per lot.
The company proposes to use the proceeds from the issue towards the acquisition of dry bulk carriers in the supramax category in the secondary market, prepayment/repayment, in part or full of certain outstanding borrowings availed by the company, and general corporate purposes.
The allotment of shares is expected to be finalized on August 22, 2025, with a tentative listing on both the BSE and NSE scheduled for Tuesday, August 26, 2025.
About Shreeji Shipping Global
The company provides shipping and logistics solutions for dry bulk cargo at various ports and jetties in India and Sri Lanka, covering more than twenty locations. These include major Indian ports such as Kandla, non-major ports such as Navlakhi, Magdalla, Bhavnagar, Bedi, and Dharmatar, as well as the overseas port at Puttalam (Sri Lanka).
It primarily caters to customers across sectors, including oil and gas, energy and power, fast-moving consumer goods (FMCG), coal, and metals.
For the period ended March 31, 2025, and the fiscal years ended 2024 and 2023, the company handled total cargo volumes of 15.71 MMT, 13.78 MMT, and 13.87 MMT, respectively. During the same period, the cargo transported stood at 2.49 MMT, 2.74 MMT, and 2.96 MMT, respectively.
As of March 31, 2025, the company had a fleet of more than 80 vessels (including barges, mini bulk carriers (MBCs), tugboats, and floating cranes) and over 370 pieces of earthmoving equipment (including material handling machines, excavators, pay loaders, tippers, trailers, tankers, and other vehicles) serving its clients, according to the company’s RHP report.
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