Introduction
Founded in 1995, Shreeji Shipping Global Ltd. is a Gujarat-based logistics and shipping company specialising in dry-bulk cargo. Unlike large players that dominate India’s major ports, Shreeji focuses on non-major ports and jetties along India’s west coast and even Sri Lanka.
Its operations cover more than 20 ports, including Kandla, Navlakhi, Magdalla, Bhavnagar, Bedi, Dharmatar, and Puttalam (Sri Lanka). The company’s integrated services include cargo handling, transportation, fleet chartering and equipment rentals.
With 80+ vessels, over 370 material-handling machines, and 1,173+ employees, Shreeji has built a reputation for being a niche but reliable logistics partner for sectors like Oil & Gas, Energy, FMCG and Metals.
A look back at the company’s history
From a small logistics operator in the 90s to one of the bigger dry bulk cargo players today, Shreeji Shipping has grown on the back of India’s infrastructure and energy demand. Its business model is asset-heavy — building its own fleet and equipment base instead of relying on outsourcing.
This asset-first approach means higher costs upfront, but also stronger control over operations, quality and customer retention.
Objective of the IPO
The company aims to raise around ₹410–₹411 crore through a 100% fresh issue (no OFS). Proceeds will be used for:
- Buying Supramax dry bulk carriers to scale capacity.
- Repaying borrowings to reduce leverage.
- Funding general corporate needs for expansion.
In other words, the IPO is about strengthening the fleet, reducing debt, and preparing for the next growth phase.
Current status of the IPO
- Opened: August 19, 2025
- Closed: August 21, 2025
- Subscription: 18.56x overall (NII: 38.96x, Retail: 14.73x, QIB: 9.97x)
- Grey Market Premium (GMP): ₹35, implying a listing price near ₹287 against the issue price of ₹252.
IPO details
| Particulars | Details |
| Issue Size | ₹410–₹411 crore |
| Issue Type | 100% Fresh issue |
| Price Band | ₹240 – ₹252 |
| Lot Size | 58 shares |
| Min. Retail Investment | ₹14,616 (1 lot) |
| Max. Retail Investment | ₹1,90,008 (13 lots) |
| Registrar | Bigshare Services |
| Lead Managers | Beeline Capital, Elara Capital |
| Allotment Date | Aug 22, 2025 |
| Refunds/ Demat Credit | Aug 25, 2025 |
| Listing Date | Aug 26, 2025 (BSE & NSE) |
Shareholding pattern
| Shareholders | Pre-Issue | Post-Issue |
| Promoters (Ashokkumar Haridas Lal & Jitendra Haridas Lal) | 100% | 90% |
| Public | 0% | 10% |
Promoters are diluting just 10%, which signals confidence in retaining control and building long-term value.
IPO company financials (illustrative trend)
| Particulars | FY23 | FY24 | FY25 |
| Revenue | Moderate growth | Stable | Improving on cargo expansion |
| PAT | Positive trend | Margin expansion | Further improvement |
(Exact audited numbers will reflect in RHP; clusters mention strong profitability growth and debt management.)
Fund utilisation plan
| Purpose | Allocation |
| Acquisition of vessels (Supramax) | Majority |
| Repayment of borrowings | Partial |
| General corporate use | Balance |
Why should you invest in the IPO?
Advantages
- Strong demand visibility in dry bulk cargo (infra, energy, metals).
- Integrated services — from cargo handling to transportation and fleet rentals.
- Healthy IPO response — 18.56x subscribed, strong GMP trend.
- Promoter commitment — 90% post-issue stake shows skin in the game.
- Established presence across 20+ ports and long-term institutional relationships.
Disadvantages
- Cyclical industry risk — Shipping is tied to global trade and commodity cycles.
- Valuation concerns — At ~29x post-issue earnings, some analysts believe it’s fully priced.
- Divergent analyst opinions — Some brokerages say “subscribe for listing gains”; others advise “avoid” due to limited margin of safety.
Bottomline
The Shreeji Shipping Global IPO has drawn heavy investor demand, reflected in its 18.56x subscription and ₹35 GMP premium. The company brings scale, asset strength and long-term customer relationships.
However, the valuation looks stretched, and shipping remains a cyclical business. For investors, this IPO may offer decent listing gains, while long-term bets on Shreeji Shipping Global share price will depend on how well the company manages debt, expands its fleet, and rides demand cycles in FY26 and beyond.
