Shreeji Shipping Global IPO Opens Tomorrow: Latest GMP Hints At 10% Listing Gains
The subscription period for the Shreeji Shipping Global IPO will end on Aug. 21.
The initial public offering (IPO) of Shreeji Shipping Global Ltd. is scheduled to open for subscription on Aug. 19.
The company operates in the shipping and logistics sector, specialising in dry-bulk cargo. Ahead of the bidding window opening on Tuesday, here’s a look at the grey market premium (GMP) and other important details about the Shreeji Shipping Global IPO.
Shreeji Shipping Global IPO GMP
According to InvestorGain, as of 9:01 a.m. on Aug. 18, the grey market premium (GMP) for Shreeji Shipping Global IPO stood at Rs 26 per share. The latest GMP indicates an estimated listing price of Rs 278 per share at a premium of 10.32% over the upper band of the issue price.
Note: GMP does not represent official data and is based on speculation.
Shreeji Shipping Global IPO: Key Details
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 price band for the Shreeji Shipping Global IPO has been set at Rs 240 to Rs 252 per share.
The lot size for retail investors is 58 shares, requiring a minimum investment of Rs 13,920. For small non-institutional investors (sNII), the lot size is 14 lots (812 shares), amounting to Rs 2,04,624. For big non-institutional investors (bNII), the lot size is 69 lots (4,002 shares), translating to an investment of Rs 10,08,504.
The subscription period for the Shreeji Shipping Global IPO will end on Aug. 21. The IPO allotment status is expected to be finalised on Aug. 22. The company is scheduled to initiate refunds and transfer of shares to the demat accounts on Aug. 25.
The IPO listing date has been tentatively fixed as Aug. 26. Shares of Shreeji Shipping Global Ltd. will be listed on the BSE and NSE.
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.
Shreeji Shipping Global: Business And Financials
Shreeji Shipping Global Ltd., founded in 1995, specialises in operations at non-major ports and jetties, mainly along India’s west coast and in Sri Lanka. Over the years, the company has provided its services at more than 20 ports and jetties, including Kandla, Navlakhi, Magdalla, Bhavnagar, Bedi, Dharmatar and Puttalam.
Use of Proceeds
Shreeji Shipping Global plans to use the proceeds from its IPO for three main purposes. The company will acquire dry bulk carriers in the Supramax category from the secondary market. It will also pre-pay or repay some of its existing borrowings. The remaining funds will be used for general corporate purposes.
Financials
Between the financial years ending March 31, 2024, and March 31, 2025, Shreeji Shipping Global Ltd. reported a 17% decline in revenue, falling from Rs 736.17 crore to Rs 610.45 crore. During the same period, profit after tax increased by 13%, rising from Rs 124.51 crore to Rs 141.24 crore.
The company’s revenue declined to Rs 610.45 crore in FY25 compared to Rs 736.17 crore in FY24. However, the Shreeji Shipping Global reported a rise in net profit at Rs 142.24 crore in FY25 against Rs 124.51 crore in the preceding financial year.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
