6 days ago
Shreeji Shipping sets IPO price band at Rs 240-252/ share
New Delhi, Aug 11 (PTI) Shreeji Shipping Global Ltd, a provider of shipping and logistics solutions for dry bulk cargo, on Monday announced a price band of Rs 240 to Rs 252 per share for its Rs 411-crore initial public offering (IPO).
The company's maiden public issue would be available for public subscription from August 19 to 21, and the one-day bidding for anchor investors is scheduled for August 18, according to a public announcement made by Shreeji Shipping.
Shreeji Shipping Global's IPO is entirely a fresh issue of 1.63 crore equity shares with no offer-for-sale (OFS) component. At the upper-end of the price band, the company is expected to garner Rs 411 crore through the public issue.
The company is planning to use Rs 251.2 crore out of the IPO proceeds for acquisition of dry bulk carriers in the supramax category in the secondary market, and Rs 23 crore for repaying debt.
Half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.
The flagship company of Jamnagar-based Shreeji Group primarily focuses on non-major ports and jetties, particularly along the west coast of India.
According to a D&B Report, cargo handled at ports in India is expected to grow at an annual rate of 10.80 per cent to 2,849 MMTs by fiscal year 2030, from 1,540 million metric tons (MMTs) in fiscal 2024.
India has a long coastline with 12 major ports and 217 minor ports. Among these, 78 non-major ports handle cargo, while others are used for fishing.
Beeline Capital Advisors Private Ltd and Elara Capital (India) Private Ltd are the book-running lead managers to Shreeji Shipping's public issue.
Shares of the company are expected to begin trading on the bourses from August 26.
So far this year, 44 mainboard companies have launched their IPOs. In addition, two more are lined up — BlueStone Jewellery and Lifestyle opens its issue on August 11, followed by agro-based firm Regaal Resources on August 12. PTI SP DRR
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First Published:
August 11, 2025, 12:00 IST
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