Shreeji Shipping Global IPO invites bids: GMP up 12%; should you subscribe?

Shreeji Shipping Global IPO: Analysts remain broadly optimistic about Shreeji Shipping Global and have shared favorable reviews for its public offering

Shreeji Shipping Global IPO opens for subscription today: The initial public offering (IPO) of shipping and logistics services provider Shreeji Shipping Global opens for public subscription today, Tuesday, August 19, 2025. At the upper end of the price band, the company aims to raise ₹410.71 crore from the public offering.  Ahead of the IPO launch, Shreeji Shipping Global successfully raised ₹123 crore from anchor investors in a bidding round that concluded on Monday, August 18.

 

The anchor portion saw participation from both domestic and foreign institutional investors, including Bank of India Mutual Fund (MF), Morgan Stanley Asia (Singapore) Pte, BNP Paribas Financial Market — ODI, Aarth AIF Growth Fund, Viney Growth Fund, Khandelwal Finance, Golden Equity Fund Series I, SB Opportunities Fund II, Invicta Continuum Fund I, and Rajasthan Global Securities.

 

That said, analysts remain broadly optimistic about Shreeji Shipping Global and have shared favorable reviews for its public offering. However, before diving into their views, here are the key details of the Shreeji Shipping Global IPO:

Shreeji Shipping Global IPO details

The public offering comprises an entirely fresh issue of 16.3 million equity shares, without any offer-for-sale (OFS) component. It is being offered at a price band of ₹240–₹252 per share, with a lot size of 58 shares. Investors can bid for a minimum of 58 shares and in multiples thereof.

 

A retail investor would require a minimum of ₹14,616 to bid for one lot (58 shares) of the Shreeji Shipping Global IPO, while ₹1,90,008 is required to bid for the maximum of 13 lots (754 shares).

 

For the public issue, Bigshare Services is serving as the registrar, while Beeline Capital Advisors and Elara Capital (India) are the book-running lead managers.  ALSO READ | Patel Retail IPO opens today: Key risks, strengths you must know

Shreeji Shipping Global IPO grey market premium (GMP) today

Ahead of the launch of the public issue, unlisted shares of Shreeji Shipping Global were commanding a decent premium in the grey market on Tuesday. Sources tracking grey market activity revealed that the company’s unlisted shares were exchanging hands at around ₹282 per share in the unofficial market. This translates to a grey market premium (GMP) of ₹30 per share, or 11.90 per cent over the upper end of the issue price.

Shreeji Shipping Global IPO timeline

The subscription window to bid for the Shreeji Shipping Global IPO is likely to close on Thursday, August 21, 2025. Following that, the basis of allotment is tentatively scheduled to be finalized on Friday, August 22, 2025. Successful allottees will receive the company’s shares in their demat accounts on Monday, August 25, 2025.

 

Shares of Shreeji Shipping Global are tentatively slated to list on the BSE and NSE on Tuesday, August 26, 2025.

Shreeji Shipping Global IPO objective

According to its RHP (Red Herring Prospectus), Shreeji Shipping Global proposes to utilise the proceeds from the public offering for the acquisition of dry bulk carriers in the Supramax category from the secondary market, as well as for the pre-payment or repayment, in part or full, of certain outstanding borrowings availed by the company.

 

The company also plans to use the proceeds for general corporate purposes.

Should you subscribe to the Shreeji Shipping Global IPO?

Canara Bank Securities – Subscribe for long-term

Analysts at Canara Bank Securities recommend subscribing to the public issue with a long-term horizon, citing operational resilience, brand equity, and valuation comfort.

 

“SSGL’s niche positioning in dry bulk cargo logistics, robust asset base, and expertise in non-major ports provide a sustainable competitive edge in a fragmented market. Long-term institutional relationships, recurring revenue streams, and sector tailwinds support its growth trajectory,” wrote analysts in a research report. At a P/E of 25.64x, the Shreeji Shipping Global IPO appears attractively valued considering its operational scale and profitability metrics.

 

They have, however, cautioned about key risks, which include cyclical fluctuations in global trade, commodity demand, and geographic concentration.

BP Equities – Subscribe for long-term

BP Equities has also recommended subscribing to the public issue for a long-term investment horizon, citing justified valuations.

 

At the upper price band of ₹252, SSGL is valued at a P/E multiple of 25.6x FY25 earnings. “Given the company’s expanding margins, scalable business model, and growth potential, we believe the valuation, although at a premium, is justified. We recommend investors to subscribe to the issue with a long-term investment horizon,” the analysts noted.

SBI Securities – Subscribe for long-term

Brokerage firm SBI Securities, in its report, has recommended subscribing to the public issue with a long-term view at the cut-off price.

 

“The company is a prominent player in the domestic integrated shipping and logistic solutions industry, with established cargo handling operations for dry bulk cargo. It currently operates a fleet of 83 vessels and 376 earthmoving equipment. Going forward, SSGL will use the proceeds from the issue to acquire Dry Bulk Carriers in the 'Supramax' category, further strengthening its fleet. The company does not have any listed like-to-like peers in India,” they added.

Swastika Investmart – Subscribe for listing gains

Analysts at Swastika Investmart recommend investors with a medium to long-term horizon consider subscribing. They pointed out that the company operates in the shipping and logistics sector, focusing on dry bulk cargo. Its services span across 20 ports and jetties in India, along with one port in Sri Lanka.

 

“While revenue has shown a declining trend in recent years, profitability has improved due to effective cost management and niche service offerings. Considering the latest financial performance, the valuation of the issue seems fair,” analysts noted.

About Shreeji Shipping Global

Shreeji Shipping Global Ltd (SSGL) is a provider of shipping and logistics solutions for dry bulk cargo. It operates at various ports and jetties in India and Sri Lanka. As of March 2025, SSGL provided its services at more than 20 ports and jetties and operated a fleet of 83 vessels (comprising barges, mini bulk carriers, tug boats, and floating cranes) and 376 earthmoving equipment (including material handling machines, excavators, payloaders, etc.).