Shreeji Shipping Global Ltd, a provider of shipping and logistics solutions for dry bulk cargo, has submitted draft papers to the Securities and Exchange Board of India (SEBI) seeking approval for an initial public offering (IPO). The offering will consist entirely of a fresh issue of 2 crore equity shares, as stated in the draft red herring prospectus (DRHP).
The company plans to allocate ₹289.4 crore from the IPO proceeds to acquire dry bulk carriers in the supramax category from the secondary market. Additionally, ₹19.5 crore will be used to repay debt. As of September 2025, the company reported total borrowings of ₹264.54 crore, according to the draft papers.
Based in Jamnagar, Shreeji Shipping primarily focuses on servicing non-major ports and jetties, particularly along India’s west coast. By September 2024, the company had operated at over 20 ports and jetties, including key Indian ports like Kandla and non-major ports such as Navlakhi, Magdalla, Bhavnagar, Bedi, and Dharmatar. It also serves international locations, including Puttalam Port in Sri Lanka.
Growth Outlook for India’s Ports
A Dun & Bradstreet report highlights significant growth in India’s port sector, forecasting a compound annual growth rate (CAGR) of 10.8%, with cargo handled expected to rise to 2,849 million metric tons (MMTs) by FY 2030 from 1,540 MMTs in FY 2024. Ports in Gujarat are projected to grow even faster, with cargo volumes estimated to increase to 720 MMTs by FY 2030 from 317.2 MMTs in FY 2024, representing a 17.5% annual growth rate.
India has 12 major ports and 217 minor ports along its coastline, with 78 non-major ports currently handling cargo.
Financial Performance
For FY 2023-24, Shreeji Shipping reported a profit after tax (PAT) of ₹124.51 crore, up from ₹118.89 crore in the previous fiscal year. Total income for FY 2023-24 stood at ₹736.17 crore, compared to ₹827.33 crore in FY 2022-23.
IPO Managers
Beeline Capital Advisors Private Ltd and Elara Capital (India) Private Ltd are serving as the book-running lead managers for the IPO.