Shreeji Shipping IPO GMP Today
Shreeji Shipping IPO’s last grey market premium (GMP) stood at Rs 26. With the upper price band fixed at Rs 252, the estimated listing price is pegged at around Rs 278 per share, reflecting a potential gain of 10.32%.
Shreeji Shipping Global IPO Launch and Price Band
Shreeji Shipping Global Ltd, a growing player in dry bulk cargo logistics, is set to launch its Rs 411-crore initial public offering (IPO). The company has fixed the price band at Rs 240 to Rs 252 per share. The IPO will open for public subscription on August 19 and will close on August 21, while anchor investors will have an exclusive bidding window on August 18.
The issue is entirely a fresh equity issue of 1.63 crore shares, with no offer-for-sale component. At the upper end of the price range, the company is expected to raise the full Rs 411 crore, with proceeds directly flowing into business expansion and balance sheet strengthening.
IPO Allocation Structure
The issue has been structured to reserve 50% for Qualified Institutional Buyers (QIBs), 35% for retail investors, and the remaining 15% for Non-Institutional Investors (NIIs).
Objects of the Issue
Shreeji Shipping plans to deploy Rs 251.2 crore towards the acquisition of Supramax-category dry bulk carriers from the secondary market. This investment is aimed at boosting the company’s capacity and operational scale. In addition, Rs 23 crore has been earmarked for debt repayment, which will further strengthen its financial position, while the balance will be used for general corporate purposes.
Financial Performance
For the financial year ended March 31, 2025, Shreeji Shipping Global reported revenue of Rs 610 crore, a decline of 17% from Rs 736.17 crore in FY24. Despite the fall in topline, profitability improved. Profit After Tax (PAT) rose 13.4% year-on-year to Rs 141 crore in FY25 from Rs 124 crore in FY24. EBITDA also registered a modest increase of 1.4%, rising to Rs 200 crore in FY25 from Rs 197.89 crore in FY24. This indicates that the company managed to improve efficiency and margins even in the face of lower revenues.
Industry Outlook
Based in Jamnagar, Gujarat, Shreeji Shipping Global is the flagship company of the Shreeji Group. It operates mainly along India’s west coast with a strong presence in non-major ports and private jetties, a segment expected to see strong growth in the coming years.
According to a D&B report, India’s port cargo volume is projected to grow at a compounded annual growth rate (CAGR) of 10.8%, increasing from 1,540 million metric tonnes (MMT) in FY24 to 2,849 MMT by FY30. Ports in Gujarat are projected to grow at an even faster rate of 17.5% annually, with volumes nearly doubling from 317.2 MMT in FY24 to 720 MMT by FY30. With 12 major ports and 217 minor ports along India’s 7,500-km coastline, the scope for growth remains significant, particularly for companies like Shreeji that are strategically focused on non-major ports.
Key Details and Listing
Beeline Capital Advisors Pvt Ltd and Elara Capital (India) Pvt Ltd are acting as the book-running lead managers for the IPO. Shreeji Shipping Global shares are expected to debut on the stock exchanges on August 26.