Shreeji Shipping Global shares list at 8% premium over IPO price

Shreeji Shipping Global shares made their market debut on Tuesday with a positive listing. The stock opened at Rs 271.85 on the BSE, a 7.9% premium over the IPO price of Rs 252, while on the NSE it listed at Rs 270 with a 7% premium. In the unlisted market, shares of Shreeji Shipping Global commanded a 13% grey market premium ahead of listing, indicating expectations of a healthy debut.

The Rs 411 crore IPO, which ran from August 19 to 21, was an entirely fresh issue of 1.63 crore shares priced at Rs 252 each.

Proceeds from the IPO will be used for acquiring dry bulk carriers in the Supramax category, repaying borrowings, and general corporate purposes.

Investor demand was strong, with the IPO subscribed 58.08 times overall. Qualified Institutional Buyers (QIBs) led the rally with 110.41 times subscription, while Non-Institutional Investors (NIIs) subscribed 72.70 times and retail investors 21.92 times.

Founded in 1995, Shreeji Shipping Global is a shipping and logistics company specialising in dry-bulk cargo operations.

The company serves over 20 Indian ports and one Sri Lankan port, operating a fleet of more than 80 vessels, including barges, bulk carriers, tugboats, and floating cranes. It also manages a fleet of 370 earthmoving machines for cargo handling and logistics.

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Financially, the company posted Rs 610.45 crore revenue in FY25, down from Rs 736.17 crore in FY24, while profit after tax rose 13% to Rs 141.24 crore.

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