Gujarat-based Shreeji Shipping Global, which provides cargo handling, transportation and fleet chartering and equipment rentals services has set a price band of Rs 240-252 a share for it's initial public offering that will open for subscription on August 19.
The anchor bidding will start on August 18 and the issue will close on August 21.
The IPO will be a pure fresh issue of 1.6 crore. On the upper price band, the issue size will be around Rs 410.71 crore.
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.
Shreeji Shipping Global, the flagship company of Jamnagar-based Shreeji Group that primarily focused on non-major ports and jetties, particularly along the West Coast of India plans to spend Rs 251.2 crore of the IPO proceeds for acquisition of dry bulk carriers in Supramax category in the secondary market, and Rs 23 crore for repaying debt. The remainder funds will be used for general corporate purposes.
The company, which does not have peer in the listed space, has recorded profit at Rs 141.2 crore in the year ended March 2025, rising 13.4 percent over the previous fiscal. However, revenue declined nearly 17 percent to Rs 607.6 crore during the same period.
Shreeji Shipping Global has filed draft papers with the SEBI for its IPO in January this year, and received approval from the regulator to float IPO in May.
Beeline Capital Advisors, and Elara Capital (India) are acting as the merchant bankers for the Shreeji Shipping Global IPO.
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