Latest news with #ShreeRefrigerations
Mint
6 days ago
- Business
- Mint
Shree Refrigerations IPO Day 1: Subscription status, GMP, other key details you need to know
Shree Refrigerations IPO Day 1: The issue opened for subscription on 27 July 2025. Check here for Subscription status, GMP, other key details you need to know Shree Refrigerations' public offering, or IPO, was subscribed 2.11 times by July 25, 2025, at 5:05PM (Day 1). The public issue has been subscribed 3.60 times by individual investors, 0.00 times by QIBs, and 1.43 times by NIIs. Shree Refrigerations' initial public offering (IPO) began for subscription on July 25, 2025, and will close on July 29, 2025. The allotment for Shree Refrigerations' IPO is planned to be completed on Wednesday, July 30, 2025. Shree Refrigerations IPO will be listed on BSE SME, with a tentative listing date of Friday, August 1, 2025. Shree Refrigerations' IPO price range is set at ₹ 119- ₹ 125 per share. The lot size for an application is 1,000. Retail investors must invest a minimum of ₹ 238,000 (2,000 shares). The minimum investment for HNIs is 3 lots (3,000 shares) of ₹ 375,000. Shree Refrigerations' IPO is a book-building issue of ₹ 117.33 crore. The offering consists of a fresh issue of 75.61 lakh shares totaling ₹ 94.51 crores and an offer to sell 18.25 lakh shares totaling ₹ 22.81 crores. The Shree Refrigerations IPO GMP, or Grey Market Premium, stood at +90 on July 25. This means that the shares of Shree Refrigerations are trading at an ₹ 90 premium over the upper band of the issue price of ₹ 125. This also means that investors are expecting a listing of Shree Refrigerations shares at a 72% premium, or ₹ 90 premium, over the upper band of the issue price and at ₹ 215. Disclaimer: The views and recommendations made above are those of individual analysts or brokerage companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Economic Times
6 days ago
- Business
- Economic Times
Ashish Kacholia-backed Shree Refrigerations IPO opens with 64% GMP. Check all details
Shree Refrigerations, a key HVAC and refrigeration systems supplier, is launching its Rs 117.32 crore IPO on Friday, drawing significant investor interest. Synopsis Shree Refrigerations is launching its IPO on Friday. The IPO size is Rs 117.32 crore. Ashish Kacholia and other marquee investors are backing the company. The IPO includes a fresh issue and an offer for sale. The company will use the funds for working capital. Shree Refrigerations specializes in HVAC and refrigeration systems. Shree Refrigerations, a key supplier of mission-critical HVAC and refrigeration systems to the Indian defence and industrial sectors, will open its Rs 117.32 crore IPO on Friday. The IPO, which has generated strong investor buzz with a grey market premium (GMP) of around 64%, is being closely tracked due to the presence of marquee investor Ashish Kacholia. ADVERTISEMENT According to latest shareholding data, Kacholia owns a 4.34% stake in the company. Other notable shareholders include Meru Investment Fund PCC Cell 1 (2.17%) and Maharashtra Defence and Aerospace Venture Fund (17.09%). Promoters currently hold 56.61% of the company. The IPO comprises a fresh issue of 75.61 lakh equity shares and an offer for sale (OFS) of 18.25 lakh shares, taking the total issue size to 93.86 lakh shares. The price band has been fixed at Rs 119 to Rs 125 per share, and investors can bid in lots of 1,000 shares. The allocation includes 26.73 lakh shares for anchor investors, 17.82 lakh for qualified institutional buyers (QIBs), at least 13.39 lakh for non-institutional investors (NIIs), and 31.22 lakh for retail investors. Narnolia Financial Services is the book-running lead manager and MUFG Intime India is the in 2006, Shree Refrigerations is known for building custom HVAC and refrigeration systems for sectors like defence, pharma, food processing, and chemicals. Its state-of-the-art facility in Karad, Maharashtra, is focused on precision manufacturing and in-house design. ADVERTISEMENT In FY25, the company reported revenue of Rs 98.73 crore, EBITDA of Rs 26.94 crore, and a profit after tax (PAT) of Rs 13.55 crore — reflecting strong margins and operational scalability. Management said the IPO proceeds will be used for working capital and general corporate by over four decades of legacy in India's industrial landscape and a marquee shareholder base, Shree Refrigerations' IPO is drawing attention from retail and institutional investors alike. (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Time of India
6 days ago
- Business
- Time of India
Ashish Kacholia-backed Shree Refrigerations IPO opens with 64% GMP. Check all details
IPO details Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shree Refrigerations, a key supplier of mission-critical HVAC and refrigeration systems to the Indian defence and industrial sectors, will open its Rs 117.32 crore IPO on Friday. The IPO, which has generated strong investor buzz with a grey market premium (GMP) of around 64%, is being closely tracked due to the presence of marquee investor Ashish Kacholia According to latest shareholding data, Kacholia owns a 4.34% stake in the company. Other notable shareholders include Meru Investment Fund PCC Cell 1 (2.17%) and Maharashtra Defence and Aerospace Venture Fund (17.09%). Promoters currently hold 56.61% of the IPO comprises a fresh issue of 75.61 lakh equity shares and an offer for sale (OFS) of 18.25 lakh shares, taking the total issue size to 93.86 lakh shares. The price band has been fixed at Rs 119 to Rs 125 per share, and investors can bid in lots of 1,000 allocation includes 26.73 lakh shares for anchor investors, 17.82 lakh for qualified institutional buyers (QIBs), at least 13.39 lakh for non-institutional investors (NIIs), and 31.22 lakh for retail investors. Narnolia Financial Services is the book-running lead manager and MUFG Intime India is the in 2006, Shree Refrigerations is known for building custom HVAC and refrigeration systems for sectors like defence, pharma, food processing, and chemicals. Its state-of-the-art facility in Karad, Maharashtra, is focused on precision manufacturing and in-house FY25, the company reported revenue of Rs 98.73 crore, EBITDA of Rs 26.94 crore, and a profit after tax (PAT) of Rs 13.55 crore — reflecting strong margins and operational scalability. Management said the IPO proceeds will be used for working capital and general corporate by over four decades of legacy in India's industrial landscape and a marquee shareholder base, Shree Refrigerations' IPO is drawing attention from retail and institutional investors alike.
Business Standard
19-05-2025
- Business
- Business Standard
"India's Cold Revolution: The Untold Story of Refrigeration and Self-Reliance"
PNN New Delhi [India], May 19: In recent years, India has witnessed remarkable growth across various sectors--be it technology, science, or defense. But there's one more sector that has quietly yet significantly contributed to the nation's economic progress: the refrigeration industry. Refrigeration industry plays a critical role in supporting everything from food security and healthcare to industrial development and defense infrastructure. But have you ever paused to think about how cooling technology could be a driving force behind India's growth story? Let's take a step back and explore how this evolution began and how it's shaping the future. In the post-independence era, India's refrigeration needs were primarily met through imports, with domestic manufacturing being minimal. The late 1950s marked a turning point when foreign exchange constraints prompted the establishment of local assembly units. Over the subsequent decades, the industry expanded its capabilities, producing a range of appliances including air conditioners, refrigerators, and deep freezers. The liberalization of the Indian economy in the 1990s further accelerated this growth, allowing both domestic and international players to contribute to the sector's diversification and expansion. Amidst this evolving landscape, Shree Refrigerations emerged as a beacon of innovation and self-reliance. Originally serving the newspaper printing, Milk cooling and Test Equipment industry, The turning point came through a causal interaction--an old client, now involved with a company supplying systems to the Indian Navy, reached out. That company was grappling with serious technical issues in one of their naval refrigeration products and was seeking a reliable partner. Without hesitation, they recommended Shree Refrigerations, recognizing the company's technical expertise and innovative spirit. When Mr. R.G. Shende, the visionary behind Shree, learned of this opportunity, he immediately sensed it was more than just a one-off project. He saw a potential new vertical--one that was strategic, long-term, and aligned with national priorities. As he delved deeper into the defense ecosystem, he identified a significant dependency: India was still heavily reliant on foreign technologies, particularly from multinational corporations, for mission-critical cooling systems used aboard warships and submarines. Determined to bridge this gap, Mr. Shende famously declared, "Paani hi toh thanda karna hai, yaar... what they can do, I can do better!" This determination led to the development of advanced refrigeration systems tailored for the Indian Navy, aligning with national initiatives like 'Make in India' and 'Atmanirbhar Bharat' Technological Innovations and Contributions What began as a modest industry focused on basic cooling needs has now evolved into a hub of advanced technological innovation. Today, the Indian refrigeration sector is undergoing a transformative shift--driven by a strong push for indigenous development. At the heart of this evolution is a new generation of homegrown companies that are no longer just keeping pace with global standards, but actively setting them. Shree Refrigerations stands as a prime example of this progress. It has been at the forefront of integrating cutting-edge technologies into its products. What truly sets Shree apart is their achievement in becoming the first Indian company to successfully demonstrate magnetic bearing chiller technology and its benefits to the Indian Navy through a live technological demonstration. These systems, characterized by oil-free operation and high energy efficiency, have been recognized for their reliability in demanding conditions. The Navy's interest in adopting this technology across new and existing vessels underscores the company's contribution to enhancing indigenous defense capabilities The company's commitment to excellence has been acknowledged through various awards, including the GS Parkhe Award for Innovation in Entrepreneurship and the Brig. S.B. Ghorpade Award for MSME in Defence Manufacturing. Executive Director Mrs. Rajashri Shende's interaction with Hon. Prime Minister Narendra Modi during the Udyami Bharat Conclave further highlighted the company's role in driving innovation from a relatively remote location, embodying the 'Local to Global' ethos Addressing Industry Challenges The refrigeration industry faces challenges related to climate preservation, necessitating shifts to new refrigerants and adherence to stringent energy efficiency standards. Shree Refrigerations, leveraging its technical expertise, has proactively addressed these issues, contributing to national efforts in environmental sustainability. The company has also participated in initiatives like the R12 replacement committee and supplied advanced testing equipment to premier institutions, reinforcing its commitment to innovation and environmental responsibility. The evolution of India's refrigeration industry is a testament to the nation's journey towards self-reliance and technological prowess. Shree Refrigerations exemplifies this transformation, demonstrating how indigenous innovation can meet and exceed global standards. As the industry continues to evolve, such enterprises play a crucial role in shaping a sustainable and self-sufficient future for India.
