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Shreeji Shipping Global IPO Day 1 Live: The public offering of Shreeji Shipping Global Ltd, which provides shipping and logistics solutions for dry bulk cargo, will be available for subscription from August 19 to August 21. Shreeji Shipping Global IPO price band has been set between ₹240 and ₹252 per share.

The Shreeji Shipping Global IPO comprises only a fresh issuance of 1.63 crore equity shares, with no offer for sale (OFS) components included. At the upper end of the price band, the company expects to raise ₹411 crore through the public offering.

Beeline Capital Advisors Pvt Ltd and Elara Capital (India) Pvt Ltd are the lead managers managing the public issue for Shreeji Shipping.

The company plans to use ₹251.2 crore of the IPO funds to purchase dry bulk carriers in the supramax category from the secondary market, and ₹23 crore will be allocated to pay off existing debt.

The parent company of Jamnagar-based Shreeji Group primarily focuses on non-major ports and jetties, particularly along the western coast of India. According to a D&B Report, the volume of cargo handled at ports across the country is expected to grow at an annual rate of 10.80 percent, reaching 2,849 million metric tons (MMTs) by FY30, up from 1,540 MMTs in FY24.

(Stay tuned for more updates)

“At the upper price band of ₹252, Shreeji Shipping Global (SSG) is valued at a P/E multiple of 25.6x based on FY25 earnings. Given the company’s expanding margins, scalable business model, and strong 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,” said BP Wealth.

The bidding for Shreeji Shipping Global IPO kicked off, with investors having the option to apply for the public offer as of 5 pm today. The issue will open again for bididng at 10 am on Wednesday and Thursday. 

Shreeji Shipping Global IPO Day 1 Live: The net proceeds from the fresh issue, after deducting issue-related expenses, are proposed to be utilised for several key purposes. 

Shreeji Shipping Global Ltd raised over ₹123 crore from anchor investors on Monday, ahead of its IPO opening for public subscription.

According to a circular on the BSE website, the company allotted 48.89 lakh equity shares at ₹252 per share to 15 anchor investors, aggregating a total of ₹123.2 crore.

Notable participants in the anchor round include Bank of India Mutual Fund, 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.

Shreeji Shipping Global IPO Day 1 Live: “Shreeji Shipping Global Limited is recognised as a leading and well-established player in the field of integrated shipping and logistics services in India. The company has successfully built and maintained long-standing relationships with reputed institutional customers across several critical industries. Over the years, it has also developed a strong presence in cargo handling operations, particularly in the dry bulk cargo segment,” said brokerage Anand Rathi.

In addition, the company’s operational strength is further reinforced by the advantage of owning and managing its own fleet, which enhances reliability, efficiency, and service delivery for its clients, it added.

“At the upper price band, the company is valued at a P/E of 28.5x based on its FY25 earnings, with an EV/EBITDA of 21.4x and a market capitalization of ₹41,055 million post issue of equity shares. We believe that the IPO is fully priced and recommend a “Subscribe – Long Term” rating for the IPO,” the brokerage opined.

Shreeji Shipping Global IPO Day 1 Live: Here are a few key details about Shreeji Shipping Global IPO that investors must know:

Shreeji Shipping Global IPO grey market premium is +30. This indicates Shreeji Shipping Global share price were trading at a premium of ₹30 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Shreeji Shipping Global share price was indicated at ₹282 apiece, which is 11.90% higher than the IPO price of ₹252.

Following the grey market trends observed in the last 13 sessions, today's IPO GMP shows an upward trend and anticipates a robust listing. The minimum GMP recorded is ₹0.00, while the maximum is ₹30, as stated by experts.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.

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