Shreeji Shipping Global Ltd.'s initial public offering entered its third and final day on Thursday. The IPO has seen notable demand from non-institutional and retail investors.
The offer was subscribed 6.6 times on the second day of subscription on Wednesday.
The mainboard IPO is a book-built issue of Rs 410.71 crore. Shreeji Shipping Global IPO comprises entirely a fresh issue of 1.63 crore shares. The lot size for retail investors is 58 shares, requiring a minimum investment of Rs 13,920.
Beeline Capital Advisors Pvt. is the book-running lead manager for the Shreeji Shipping Global IPO. Bigshare Services Pvt. is the registrar for the issue.
The company operates in the shipping and logistics sector, specialising in dry-bulk cargo.
Shreeji Shipping Global IPO Details
Issue opened: Aug. 19.
Issue closes: Aug. 21.
IPO Listing Date: Aug. 26.
Issue Size: Rs 410.71 crore.
Fresh Issue:1.63 crore shares
Price Band: Rs 240 and Rs 252 per share.
Shreeji Shipping Global IPO Subscription Details
Shreeji Shipping Global IPO has been subscribed 13.2 times as of 12:10 p.m. on Aug 21.
Qualified Institutions: 2.9 times
Non-Institutional Buyers: 28.6 times
Retail Investors: 12.5 times
Shreeji Shipping Global IPO GMP
The latest grey market premium of the Shreeji Shipping Global IPO was Rs 35, according to InvestorGain. With the price band of Rs 252, the estimated listing price is Rs 287, indicating a potential gain of nearly 14%.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisers and read red herring prospectus thoroughly before placing bids.
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