- Price Band fixed at ₹240 to ₹252 per Equity Share of face value of ₹10 each;
- The anchor book will be launched on Monday, August 18
- The offer will close on Thursday, August 21
- Bids can be made for a minimum of 58 Equity Shares and in multiples of 58 Equity Shares thereafter;
NE BUSINESS BUREAU
AHMEDABAD, AUG 12
Jamnagar-based Shreeji Shipping Global, which provides cargo handling, transportation and fleet chartering and equipment rentals services is set to launch its initial public offering (IPO) on next Tuesday, August 19, with a price band of ₹240-252 per share. Anchor bidding commences on August 18, and the issue will close on next Thursday, August 21.
Bids can be made for a minimum of 58 Equity Shares and in multiples of 58 Equity Shares thereafter
The IPO aims to raise approximately ₹410.71 crore at the upper price band.
The offer consists of entirely fresh issue of 1.6 crore shares. This means the company will receive IPO proceeds for itself.
The company that provides shipping and logistic solution for dry bulk cargo at various ports and jetties at India and Sri Lanka has fleet of more than 80 vessels (consisting of barges, mini bulk carriers (MBCs), tug boats and floating cranes) and more than 370 earthmoving equipment.
The IPO’s objective is to strengthen the company’s financial standing by acquiring new assets and reducing debt, enhancing its operational capabilities.
The IPO offers 50% of the net offer to qualified institutional bidders, 15% to non-institutional investors, and 35% to retail investors. This structure aims to balance investor participation across different categories.
The company has provided services at over 20 ports and jetties, including Kandla, Navlakhi, Magdalla, Bhavnagar, Bedi, Dharmatar, in Gujarat and Puttalam in Sri Lanka.
Shreeji Shipping Global, the flagship company of Shreeji Group that primarily focused on non-major ports and jetties, particularly along the West Coast of India plans to spend ₹251.2 crore of the IPO proceeds for acquisition of dry bulk carriers in Supramax category in the secondary market, and ₹23 crore for repaying debt. The remainder funds will be used for general corporate purposes.
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.
The company caters to a diverse range of customers, including Ceylon Shipping Corporation Limited, Adani Enterprises Limited, Torrent Power Limited, Tata International Limited, RSPL Limited, Shree Digvijay Cement Corporation Limited, UltraTech Cement Limited, Ambuja Cements Limited, ACC Limited, Agarwal Coal Corporation Private Limited, Taranjot Resources Private Limited, Mohit Minerals Limited, Balaji Malts Private Limited, FC Agarwal Coal Private Limited, Green Gold Global Resources Private Limited, A T Trade Overseas Private Limited, PRH Resources Private Limited, Global Logistics and ArcelorMittal Nippon Steel India Limited. For the Fiscal 2025, the company has generated revenue from operations of ₹ 6,076.13 million, EBITDA of ₹ 2,006.82 million and Profit after tax of ₹ 1,412.37 million.
The company 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. In addition, the company is planning to enter into coal mining business with consortium of partners, pursuant to which it has secured an order from Eastern Coalfields Limited valued at ₹80,307.88 million (excluding GST) over a period of 25 years (contract period).
The company, which does not have peer in the listed space, has recorded profit at ₹141.2 crore in the year ended March 2025, rising 13.4 percent over the previous fiscal. However, revenue declined nearly 17 percent to ₹607.6 crore during the same period.
The shares will be list on BSE, NSE.
Beeline Capital Advisors, and Elara Capital (India) are acting as the merchant bankers for the Shreeji Shipping Global IPO.
