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Business Standard
a day ago
- Business
- Business Standard
Shreeji Shipping fixes IPO price band at ₹240-252 for its ₹411 cr IPO
Shipping and logistics solutions provider Shreeji Shipping Global Ltd, which on Monday fixed the price band at Rs 240-252 per share for its Rs 411-crore initial public offering, said the company may look at more overseas ports to expand its marine assets business. The company also said it has received a Letter of Intent (LOI) for setting up floating crane facilities for cargo and container lightening/topping-up at Diamond Harbour and other deep-draft locations under Syama Prasad Mookerjee Port, Kolkata, for 15 years. Earlier, the Jamnagar (Gujarat)-based Shreeji Shipping Global said it has fixed a price band of Rs 240-252 per share for its Rs 411-crore IPO, which will hit the market on August 19. The company said it plans to use Rs 251.2 crore of the IPO proceeds for the acquisition of dry bulk carriers in the supramax category in the secondary market, and Rs 23 crore for repaying debt. "We will be exploring various ports where there is lighterage and minor port operations. So be it West Africa or Bangladesh or anywhere or in developed countries, wherever there is a need for our marine assets, we'll be heading there," Krishnaraj Lal, Director at Shreeji Shipping, told PTI. Globally, the company has its marine assets as per the client's requirements, he said, adding, "We can also build as per their telemetry requirement." Lighterage is the process of transferring cargo from one vessel to another, typically from a larger "mother" vessel to a smaller vessel such as a barge or mini bulk carrier. This ship-to-ship transfer method is used to load or unload cargo efficiently, allowing larger vessels to offload some of their cargo to navigate shallower waters or reach ports with draft restrictions. The company focuses on non-major ports and jetties, particularly along the west coast of India, providing shipping and logistics solutions for dry bulk cargo at various ports and jetties in the domestic market as well as Sri Lanka. As of March 31 this year, it was operating a fleet of over 80 vessels, including barges, mini bulk carriers, tug boats and floating cranes, along with over 370 earthmoving equipment, serving over 20 ports including Kandla, Navlakhi, Magdalla, Bhavnagar, Bedi, Dharmatar and Puttalam Port in Sri Lanka. Leveraging its industry expertise and extensive transportation network, it caters to sectors such as Oil & Gas, Energy & Power, FMCG, Coal and Metals, offering end-to-end single-window services that enhance customer convenience and drive revenue growth. "We are planning to expand with port specific vessels as per the draft restrictions of the ports. We will be expanding our fleet and we'll be constructing the fleet in such a way that it gets accumulated and accommodated in the port but also at the same time the client gets the benefit of economies of scale. " So the overall objective of this IPO is to construct more and more fleets which can reduce the logistic costs of the end user," Lal said. He said that the company was only diluting 10 per cent as of now, and "we are planning to do an added arm by purchasing a few vessels like the Supramax size class of vessels and other coastal vessels and use this fund in building new vessels." "Also, in future, we will be raising funds for making new waterfronts, which can reduce the cost of the industry and create more volumes and its utility also," he said. In addition, the company is planning to enter into the coal mining business with a consortium of partners, for which it has secured an order from Eastern Coalfields Limited valued over a period of 25 years (contract period), it said.
Economic Times
2 days ago
- Business
- Economic Times
Shreeji Shipping sets IPO price band at Rs 240-252/ share
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). ADVERTISEMENT 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. ADVERTISEMENT 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. Unlock 500+ Stock Recos on App Ports in Gujarat are set to see even faster growth, with cargo expected to rise to 720 MMTs by fiscal 2030, from 317.20 MMTs in fiscal 2024, representing a 17.50 per cent annual growth rate. ADVERTISEMENT 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. ADVERTISEMENT 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. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
2 days ago
- Business
- Time of India
Shreeji Shipping sets IPO price band at Rs 240-252/ share
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. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program 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. Live Events 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. Ports in Gujarat are set to see even faster growth, with cargo expected to rise to 720 MMTs by fiscal 2030, from 317.20 MMTs in fiscal 2024, representing a 17.50 per cent annual growth rate. 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.
Economic Times
2 days ago
- Business
- Economic Times
Shreeji Shipping, Patel Retail to float IPOs on Aug 19
Shreeji Shipping Global Ltd and Patel Retail Ltd are set to launch their IPOs on August 19, closing on August 21. Shreeji Shipping aims to raise funds for dry bulk carriers and debt repayment through a fresh issue of 1.63 crore equity shares. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Shipping and logistics solutions provider Shreeji Shipping Global Ltd and supermarket chain Patel Retail Ltd are set to launch their maiden public issues on August to their Red Herring Prospectus (RHP), the IPOs will close on August 21, and the one-day bidding for anchor investors is scheduled for August two companies will announce the price band for their public issues on far this year, 44 mainboard companies have launched their IPOs. In addition, two IPOs of BlueStone Jewellery and Lifestyle will open on August 11, followed by the issue of agro-based firm Regaal Resources on August by the RHP, Shreeji Shipping Global's IPO is an entirely fresh issue of 1.63 crore equity shares with no offer for sale (OFS) company plans to utilise Rs 251.2 crore from the IPO proceeds for the acquisition of dry bulk carriers in the supramax category on the secondary market, and Rs 23 crore for debt flagship company of Jamnagar-based Shreeji Group primarily focuses on non-major ports and jetties, particularly along the west coast of Retail's IPO is a mix of a fresh issue of 85.18 lakh shares and an OFS of 10.02 lakh shares of promoters, according to the per merchant banking sources, the IPO size is expected to be Rs 250 crore to Rs 300 from the fresh issuance to the tune of Rs 59 crore will be used for payment of debt, Rs 115 crore for funding of working capital requirements of the company, and a portion will be used for general corporate Retail was established in 2008 with the launch of its first store in Ambernath, Maharashtra. Since then, it has expanded its operations throughout the suburban regions of Thane and the Raigad district in company provides a diverse range of products including food, non-food items, general merchandise, and apparel to meet the needs of families. It operates in tier-III cities and nearby suburban areas under the brand 'Patel's R Mart'.Shares of the two companies are expected to begin trading on the bourses from August 26. PTI
Time of India
2 days ago
- Business
- Time of India
Shreeji Shipping, Patel Retail to float IPOs on Aug 19
Shreeji Shipping Global Ltd and Patel Retail Ltd are set to launch their IPOs on August 19, closing on August 21. Shreeji Shipping aims to raise funds for dry bulk carriers and debt repayment through a fresh issue of 1.63 crore equity shares. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Shipping and logistics solutions provider Shreeji Shipping Global Ltd and supermarket chain Patel Retail Ltd are set to launch their maiden public issues on August to their Red Herring Prospectus (RHP), the IPOs will close on August 21, and the one-day bidding for anchor investors is scheduled for August two companies will announce the price band for their public issues on far this year, 44 mainboard companies have launched their IPOs. In addition, two IPOs of BlueStone Jewellery and Lifestyle will open on August 11, followed by the issue of agro-based firm Regaal Resources on August by the RHP, Shreeji Shipping Global's IPO is an entirely fresh issue of 1.63 crore equity shares with no offer for sale (OFS) company plans to utilise Rs 251.2 crore from the IPO proceeds for the acquisition of dry bulk carriers in the supramax category on the secondary market, and Rs 23 crore for debt flagship company of Jamnagar-based Shreeji Group primarily focuses on non-major ports and jetties, particularly along the west coast of Retail's IPO is a mix of a fresh issue of 85.18 lakh shares and an OFS of 10.02 lakh shares of promoters, according to the per merchant banking sources, the IPO size is expected to be Rs 250 crore to Rs 300 from the fresh issuance to the tune of Rs 59 crore will be used for payment of debt, Rs 115 crore for funding of working capital requirements of the company, and a portion will be used for general corporate Retail was established in 2008 with the launch of its first store in Ambernath, Maharashtra. Since then, it has expanded its operations throughout the suburban regions of Thane and the Raigad district in company provides a diverse range of products including food, non-food items, general merchandise, and apparel to meet the needs of families. It operates in tier-III cities and nearby suburban areas under the brand 'Patel's R Mart'.Shares of the two companies are expected to begin trading on the bourses from August 26. PTI
