BSE SME Shree Refrigerations defrosts investor interest with a steamy market entry
The scrip was listed at Rs 169.85, a premium of 35.88% compared with the initial public offer (IPO) price. The stock is currently up 3.62% over its listing price.
The counter hit a high of Rs 177.70 and a low of Rs 161.50. About 44.40 lakh shares of the company changed hands at the counter.
Shree Refrigerations' IPO was subscribed 174.24 times. The issue opened for bidding on 25 July 2025 and it closed on 29 July 2025. The price band of the IPO was set at Rs 119 to Rs 125 per share.
The IPO comprised 93,86,000 equity shares, including a fresh issue of 75,61,000 equity shares and offer for sale (OFS) of 18,25,000 equity shares. The promoter and promoter group shareholding diluted to 44.59% from 56.60% pre-offer.
The company intends to utilize the net proceeds for funding the working capital requirement and general corporate purposes.
Ahead of the Shree Refrigerations on 24 July 2025, raised Rs 33.41 crore from anchor investors. The board has allotted 26.73 lakh shares at Rs 125 per share to 11 anchor investors.
Shree Refrigerations is engaged in the business of manufacturing chillers, refrigeration and air conditioning appliances, and other components of the Heating, Ventilation, and Air Conditioning (HVAC) industry. The company offers a range of advanced systems and equipment primarily to the domestic market. Its product portfolio serves multiple industries, including automotive, marine, print media, chemical, pharmaceutical, and general engineering sectors. The company is also actively involved in the manufacturing of marine chillers and holds approved supplier registrations from various professional directorates of the Indian Navy, including the Directorate of Electrical Engineering and the Directorate of Quality Assurance Warship Projects. As of 31 May 2025, the company had 129 permanent employees and 165 contractual employees.
The company recorded revenue from operations of Rs 98.73 crore and net profit of Rs 13.55 crore for the period ended 31 March 2025.
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