Shreeji Shipping Global Limited, a growing maritime logistics and dry bulk cargo service provider, has opened its Initial Public Offering (IPO) today, aiming to raise ₹410.70 crore to support its expansion plans. The Book Built Issue comprises an entirely Fresh Issue of 1.62 crore equity shares.
The issue will remain open from August 19 to August 21, 2025, and shares are scheduled to list on the BSE and NSE on August 26, 2025.

The price band has been fixed at ₹240–₹252 per share, and the lot size is 58 shares, requiring a minimum investment of ₹14,616 for retail applicants. For High-Net-Worth Individuals (HNIs), the minimum investment is 14 lots (812 shares), amounting to ₹2,04,624.

Two merchant banks — Beeline Capital Advisors Pvt Ltd and Elara Capital (India) Pvt Ltd — are serving as Book Running Lead Managers, while Bigshare Services Pvt Ltd is the Registrar to the issue.

Business Overview

Shreeji Shipping Global provides marine logistics services, specialising in the handling and transport of dry bulk cargo like coal, cement, clinker and aggregates across various ports and jetties in India and Sri Lanka. The company has built a robust operational network backed by:

• 80+ vessels, including barges, mini bulk carriers (MBCs), tug boats and floating cranes

• 370+ earthmoving equipment, including excavators, payloaders, trailers, tankers and material handling machinery

The firm is spearheaded by Ashokkumar Haridas Lal and Jitendra Haridas Lal, who bring over 60 years of combined experience in maritime logistics and industrial transportation. The company’s specialised fleet enables it to handle port-to-port and jetty-to-jetty cargo movements efficiently, catering to both domestic and international clients.

Financial Performance

Shreeji Shipping Global has shown consistent improvement in profitability, although revenue came down slightly in FY24 after a strong FY23. Key metrics include:

While the post-issue P/E of 29.07× indicates a fair valuation, it is notably higher than some listed logistics peers.

Utilisation of Proceeds

The company plans to use IPO funds for the following purposes:

• ₹2,511.79 million for acquiring Supramax dry bulk carriers from the second-hand market

• ₹230 million for partial repayment of existing borrowings

• Remaining proceeds to support general corporate purposes

This vessel acquisition is aimed at increasing carrying capacity and expanding the company’s presence in global dry bulk shipping routes.

Grey Market Premium

Currently, the Grey Market Premium (GMP) for Shreeji Shipping Global IPO stands at ₹0, indicating no visible premium in the unofficial secondary market ahead of listing. This suggests neutral sentiment for short-term or listing-based investors.

Conclusion

The Shreeji Shipping Global IPO offers investors exposure to the port logistics and dry bulk shipping sector, backed by an experienced management team and a diversified fleet. The company’s revenue has remained stable, and profitability has steadily improved, with ROE exceeding 40% and strong EBITDA margins.

However, considering the absence of a grey market premium and the fair/fully priced valuation, investors focused purely on listing gains may exercise caution.
That said, long-term investors who believe in the growth of the Indian maritime logistics sector — especially in dry bulk cargo and coastal shipping — may find potential value in the IPO given the company’s scalable business model and expansion strategy.

The Upcoming IPOs in this week and coming weeks are Shivashrit Foods, ARC Insulation & Insulators, Mangal Electrical Industries, LGT Business Connextions, Vikram Solar, Gem Aromatics, Shreeji Shipping Global, Patel Retail.

The Current active IPO are Studio LSD.

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