Shreeji Shipping IPO Listing Date: Check Expected Listing Price Based On Latest GMP
Shreeji Shipping Global Ltd.’s IPO was oversubscribed 58.1 times, led by demand from Qualified Institutional Buyers who oversubscribed 100 times.
Shreeji Shipping Global Ltd. is slated to make its stock market debut on the BSE and NSE on Tuesday, August 26. In the run-up to the listing, the IPO’s grey market premium has remained firm, signalling expectations of healthy gains for investors.
The initial public offering (IPO) of Shreeji Shipping Global Ltd. was oversubscribed 58.1 times on the last day of bidding on August 21. The allotment of shares for the mainboard IPO was finalised the following day, August 22. The issue drew bids for 66.28 crore shares against the 1.14 crore shares on offer.
Shreeji Shipping Global IPO GMP Today
The grey market premium (GMP) for Shreeji Shipping Global IPO stood at Rs 34 as of 9:30 a.m. on Monday. Based on the issue’s upper end of the price band of Rs 252, the stock is expected to list at around Rs 286, implying a potential gain of 13.49% per share.
Note: GMP is not an official source of data and is based on speculation. GMP data sourced from InvestorGain.
Shreeji Shipping Global IPO: Use of IPO Proceeds
Shreeji Shipping Global Ltd. will use the IPO proceeds for three purposes. The company will buy dry bulk carriers in the Supramax category. Part of the funds will go toward repaying borrowings. The rest will be used for general corporate needs.
About Shreeji Shipping Global IPO
Shreeji Shipping Global IPO is a book-built issue of Rs 410.71 crore. It comprised a fresh issue of 1.63 crore shares. The price band for the Shreeji Shipping Global IPO was set between Rs 240 and Rs 252 per share. The lot size was 58 shares per application. Qualified Institutional Buyers (QIBs) drove the strong demand for the issue, bidding 110.41 times their allotted quota.
The Non-Institutional Investors (NIIs) segment was subscribed 72.7 times, while the retail investors’ portion saw 21.94 times subscription. Shreeji
Shreeji Shipping Global Ltd., set up in 1995, is a shipping and logistics company that handles dry-bulk cargo. It mainly works at non-major ports and jetties, especially on India’s west coast and in Sri Lanka.
The company has served more than 20 ports and jetties, including Kandla, Navlakhi, Magdalla, Bhavnagar, Bedi, Dharmatar and Puttalam.
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.
