IPO
Shreeji Shipping’s Rs.411-Cr IPO subscribed 7.55 times
The INR 411-crore initial public offering (IPO) of Jamnagar-based Shreeji Shipping Global was subscribed 7.55 times on the last day of bidding. This IPO is a completely fresh issue, offering 1.63 crore equity shares with no offer-for-sale (OFS). The price band is set between INR 240 and INR 252 per share.Retail Individual Investors (RIIs) subscribed to 7.9 times their allocated quota of 57.04 lakh shares. Non-Institutional Investors (NIIs) subscribed to 14.7 times their quota of 24.44 lakh shares. Qualified Institutional Buyers (QIBs) placed bids amounting to 2.4 times the 32.59 lakh shares allotted to them.Of the proceeds, the company intends to use INR 251.2 crore to purchase Supramax-category dry bulk carriers from the secondary market. Another INR 23 crore will be allocated for debt repayment.Founded in 1995, Shreeji Shipping Global primarily operates along India’s west coast with an emphasis on non-major ports and private jetties. For FY25, Shreeji Shipping Global reported revenues of INR 610 crore, Profit After Tax (PAT) of INR 141 crore and an EBITDA of INR 200 crore.Beeline Capital Advisors and Elara Capital (India) are the book-running lead managers for the IPO.
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