19-Aug-2025      17:08

Shreeji Shipping Global IPO subscribed 2.13 times

The initial public offer of Shreeji Shipping Global received bids for 2,42,92,024 shares as against 1,14,08,600 shares on offer, according to stock exchange data at 17:00 IST on Tuesday (19 August 2025). The issue was subscribed 2.13 times.

The issue opened for bidding on 19 August 2025 and it will close on 21 August 2025. The price band of the IPO is fixed between Rs 240 and 252 per share. An investor can bid for a minimum of 58 equity shares and in multiples thereof.

The issue comprises fresh equity shares numbering 16298000 of Rs 10 face value.

Of the net proceeds of the fresh issue, the company proposed to utilize Rs 251.179 crore for the acquisition of Dry Bulk Carriers in the Supramax category in the secondary market and Rs 23 crore towards prepayment/repayment, in part or in full, of certain outstanding borrowings availed by the company, and the balance for general corporate purposes.

Shreeji Shipping Global, the flagship of Jamnagar-based Shreeji Group, is a leading provider of shipping and logistics solutions for dry bulk cargo with operations across India and Sri Lanka. As of March 2025, it operated 83 vessels and over 370 earthmoving equipment, handling 15.71 MMT of cargo'largely coal'across 20+ ports, with a strong focus on non-major ports. In FY25, cargo handling contributed 79% of revenue. The company, through a consortium, also secured a ₹9,476 crore coal mining project from Eastern Coalfields, marking its entry into mining.

Ahead of the IPO, Shreeji Shipping Global on Monday, 18 August 2025, raised Rs 123.21 crore from anchor investors. The board allotted 48.89 lakh shares at Rs 252 each to 15 anchor investors.

The firm reported a consolidated net profit of Rs 141.24 crore and sales of Rs 607.61 crore for the twelve months ended on 31 March 2025.

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