Shreeji Shipping Global ends with 58.10 times subscription

The offer received bids for 66.28 crore shares as against 1.14 crore shares on offer.

The initial public offer of Shreeji Shipping Global received bids for 66,28,01,380 shares as against 1,14,08,600 shares on offer. The issue was subscribed 58.10 times.

The Qualified Institutional Buyers (QIBs) category was subscribed 110.41 times. The Non-Institutional Investors (NIIs) category was subscribed 72.70 times. The Retail Individual Investors (RIIs) category was subscribed 21.94 times.

The issue opened for bidding on 19 August 2025 and it closed on 21 August 2025. The price band of the IPO is fixed between Rs 240 and 252 per share.

The issue comprises fresh equity shares numbering 16298000 of Rs 10 face value.

Of the net proceeds of the fresh issue, the company proposed to utilize Rs 251.179 crore for acquisition of Dry Bulk Carriers in the Supramax category in the secondary market and Rs 23 crore, towards pre-payment/ re-payment, in part or full, of certain outstanding borrowings availed by the company and balance for general corporate purposes.

Shreeji Shipping Global, the flagship of Jamnagar-based Shreeji Group, provides shipping and logistics solutions for dry bulk cargo, including STS lighterage, stevedoring, transportation, fleet chartering, and equipment rentals. As of March 31, 2025, it operated a fleet of 83 vessels and over 370 earthmoving equipment, handling 15.71 MMT of cargo, largely coal, across 20+ ports in India and Sri Lanka, with a strong focus on non-major ports. In FY25, cargo handling contributed 79.39% of operational revenue. The company, through a consortium, also bagged a Rs 9,476 crore coal mining project from Eastern Coalfields, marking its entry into the mining sector.

Ahead of the IPO, Shreeji Shipping Global on Monday, 18 August 2025, raised Rs 123.21 crore from anchor investors. The board allotted 48.89 lakh shares at Rs 252 each to 15 anchor investors.

The firm reported a consolidated net profit of Rs 141.24 crore and sales of Rs 607.61 crore for the twelve months ended on 31 March 2025.

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