Shreeji Shipping Global Ltd, a provider of shipping and logistics solutions for dry bulk cargo, has launched its initial public offering (IPO) for subscription from August 19 to August 21. The IPO price band is set between ₹240 and ₹252 per share.
This public issue comprises only a fresh issuance of 1.63 crore equity shares, with no offer-for-sale (OFS) component. If fully subscribed at the upper end of the price band, the company expects to raise ₹411 crore.
Lead Managers: Beeline Capital Advisors Pvt Ltd and Elara Capital (India) Pvt Ltd are overseeing the management of the IPO.
Use of IPO Funds: The company plans to allocate ₹251.2 crore to acquire supramax dry bulk carriers from the secondary market, while ₹23 crore will be used to repay existing debt.
Company Overview: Headquartered in Jamnagar, Shreeji Shipping Global is part of the Shreeji Group, focusing on operations at non-major ports and jetties along India’s western coastline. According to a D&B report, cargo handling at Indian ports is expected to grow at an annual rate of 10.8%, reaching 2,849 million metric tons (MMTs) by FY30 from 1,540 MMTs in FY24.
