Shreeji Shipping Global Raises Rs 123 Crore From Anchor Investors Prior To IPO Launch
A domestic mutual fund has applied through two schemes, the shipping company said.
Shreeji Shipping Global Ltd. raised Rs 123 crore from anchor investors on Monday, ahead of its initial public offering. The company allotted 48.89 lakh shares at Rs 252 apiece to 15 anchor investors.
Bank of India Small Cap Fund got the highest allocation of 14.61%. Bank of India Mid and Small Cap. Equity and Debt Fund got the second highest allotment of 9.74% and Morgan Stanley Asia (Singapore) Pte., Aarth AIF Growth Fund and Viney Growth Fund got 8.12% stake in the company.
A domestic mutual fund has applied through two schemes, the shipping company said in an exchange filing on Monday. They have collectively netted 24.35% of the anchor portion. Bank of India was the only fund house in this category.
Beeline Capital Advisors Pvt. and Elara Capital Pvt. are the book-running lead managers to the issue.
The company will launch its initial public offering on Tuesday to raise up to Rs 410.7 crore in fresh issue. The company has set a price band of Rs 240 to Rs 252 per share for its three-day IPO. The minimum application lot size is 58 shares.
The offer, which concludes on Thursday, is set to list on the BSE and the National Stock Exchange.
Shreeji Shipping will use Rs 251 crore out of IPO proceeds for the acquisition of dry bulk carriers in the supramax category in the secondary market, and further use Rs 23 crore for repaying debt.
The company reported a revenue of operations of Rs 607.6 crore in fiscal 2025, down 17% over the previous year. Net profit rose 13% tof Rs 141 crore.
