Shreeji Shipping IPO Opens Tomorrow: GMP Suggests Strong Listing Gains

Shreeji Shipping Global’s initial public offering (IPO) will open for public subscription on Tuesday, August 19, and close on Thursday, August 21. The Rs 410.71 crore issue is a fresh offering of 1.63 crore equity shares. The price band for the Shreeji Shipping IPO has been fixed at Rs 240 to Rs 252 per share.

As per grey market observers, the Shreeji Shipping IPO is commanding a grey market premium (GMP) of Rs 25 per share. This implies a potential listing price of Rs 277 per share, a premium of 9.92 per cent over the upper band price of Rs 252.

GMP is the price investors are ready to pay to get a stock even before it officially lists on the stock exchange through an IPO. While it is not always a reliable predictor of actual listing performance, it does act as an early indicator of market sentiment for the issue ahead of the listing on the exchanges.

Shreeji Shipping IPO Details

The issue has a lot size of 58 shares, which means retail investors will need to invest at least Rs 13,920 to apply for one lot.

After the subscription window closes, the basis of allotment will be finalised on August 22, and investors who do not receive shares will get their refund by August 25. On the same day, successful applicants will see the shares credited to their demat accounts. Shreeji Shipping shares are expected to make their stock market debut on August 26, 2025, on both the stock exchanges NSE and BSE.

As per the company’s Red Herring Prospectus, the IPO proceeds will mainly be used for three purposes. The biggest portion, around Rs 251.18 crore, will go towards the acquisition of dry bulk carriers in the Supramax category from the secondary market. Another Rs 23 crore has been earmarked for prepayment or repayment of borrowings, while the remaining funds will be utilised for general corporate purposes.

Beeline Capital Advisors is the book-running lead manager for the issue, and Bigshare Services is the registrar.

What Does Shreeji Shipping Do

Shreeji Shipping Global Limited, founded in 1995, provides shipping and logistics solutions for dry-bulk cargo. It operates across non-major ports and jetties in India’s west coast and Sri Lanka. Its services include cargo handling, transportation, and fleet chartering. The company also rents out vessels and earthmoving equipment such as cranes, barges, tugboats, and trailers. It also earns from other operational activities, including the sale of scrap and miscellaneous services.

As of March 31, 2025, Shreeji Shipping had a fleet of over 80 vessels, including barges, mini bulk carriers, tugboats, and floating cranes. The company also owned more than 370 units of earthmoving and material-handling equipment, such as excavators, payloaders, tippers, tankers, and trailers.

Shreeji Shipping Financial Performance

Shreeji Shipping Global reported a decline in revenue over the past three years. Revenue fell from Rs 827.33 crore in FY23 to Rs 610.45 crore in FY25, reflecting a negative compounded annual growth rate (CAGR) of 14.10 per cent.

However, the company’s net profit rose from Rs 118.89 crore in FY23 to Rs 141.24 crore in FY25, translating into a CAGR of 8.99 per cent.

Its operating profit or earnings before interests, taxes, depreciation and amortisation (Ebitda) grew from Rs 188.71 crore in FY23 to Rs 200.68 crore in FY25, registering a CAGR of 3.12 per cent.

Its total assets grew from Rs 600.92 crore to Rs 758.58 crore during the same period, a CAGR of 12.35 per cent. Net worth grew from Rs 255.81 crore in FY23 to Rs 343.17 crore in FY25, rising at a CAGR of 15.82 per cent.

During the previous three financial years, the company’s debt levels also climbed from Rs 175.45 crore in FY23 to Rs 256.47 crore in FY25.