Shreeji Global FMCG IPO listing: Shares off to tepid start, list at 20% discount to issue price

Shreeji Global FMCG IPO made a muted stock market debut on NSE SME on Wednesday, November 12. Shreeji Gobal share price listed at a 20% discount over the IPO price of ₹125.

Shreeji Global share price opened at ₹100 apiece on NSE. This means that the IPO allottees made no listing gain on the Shreeji Global IPO listing; instead, their investment value dropped by 20%.

However, the stock tried to recoup its losses by surging over 4.80% to ₹104.80 apiece on NSE, immediately after listing.

Ahead of listing, Shreeji Global IPO shares were trading at ₹0 in the grey market. This means that the GMP of Shreeji Global IPO was ₹0 ahead of its stock market debut.

Shreeji Global FMCG’s ₹85 crore IPO, open for subscription from November 4 to 7, received strong demand, with an overall subscription of 3.27 times. The QIB portion was subscribed 1.64 times, the NII portion 5.06 times, and the retail investor segment 2.91 times.

The issue comprised 6.8 million fresh shares with a face value of ₹10 each. From the proceeds, ₹5.67 crore will go toward factory premises, ₹29.01 crore for plant, machinery, and cold storage, ₹4.05 crore for solar power used internally, ₹33.54 crore for working capital, and the balance for general corporate purposes.

Shreeji Global FMCG markets a range of whole and ground spices, pulses, and flours under the brand name “Sethji.” Its product lineup features items such as chickpeas, cumin, coriander, peanuts, fennel, coriander powder, red chili powder, and turmeric powder.

The company also imports UAE coriander and Madagascar cloves, along with low-fat dried coconut from Sri Lanka, star anise, cigar cassia, broken cassia, and split cassia from Vietnam, and milled wheat from Singapore—all of which are further processed in-house.

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