Shreeji Shipping Global Ltd., a three-decade-old integrated shipping and logistics company focused on dry bulk cargo, is set to open its mainboard IPO in August 2025. Here’s a clear, reader-friendly breakdown of key dates, price band, lot size, business fundamentals, financials, risks, and how to apply—so decisions can be made confidently.
IPO Timeline and Key Terms
- Issue window: August 19–21, 2025
- Price band: ₹240–₹252 per share
- Lot size: 58 shares (retail minimum application ≈₹14,616 at lower band)
- Issue size: ₹410.71 crore (100% fresh issue; no OFS)
- Allotment: August 22, 2025
- Refunds/Credit to demat: August 25, 2025
- Listing date: August 26, 2025 (BSE & NSE)
- Registrar: Bigshare Services Pvt Ltd
- Book runners: Beeline Capital Advisors, Elara Capital
Grey market premium (GMP) near the opening week was indicated around ₹30 per share, but this is unofficial and can change quickly with market conditions.
What the Company Does
Incorporated in 1995, Shreeji Shipping Global provides end-to-end shipping and port logistics for dry bulk cargo, with a focus on non-major ports and jetties along India’s west coast and operations in Sri Lanka. The company operates a large owned fleet and equipment base to control quality and turnaround:
- Fleet: 75–80+ vessels including barges, mini bulk carriers, tugboats, and floating cranes
- Equipment: 370–380+ earthmoving and material handling machines (excavators, payloaders, tippers, trailers, tankers)
- Services: Ship-to-Ship (STS) lighterage, stevedoring, cargo management, and port-to-premise transportation for dry bulk
- Clients: Oil & Gas, Energy & Power, FMCG, Metals; strong repeat business from existing customers
- Presence: Services provided at 20+ ports/jetties such as Kandla, Navlakhi, Magdalla, Bhavnagar, Bedi, Dharamtar, and Puttalam
Financial Snapshot
- FY2025: Revenue ₹610.45 crore; PAT ₹141.24 crore; EBITDA margin ~33%
- FY2024: Revenue ₹736.17 crore; PAT ₹124.51 crore
- FY2023: Revenue ₹827.33 crore; PAT ₹118.89 crore
- Balance sheet (FY2025): Assets ₹758.58 crore; Net worth ₹343.17 crore; Borrowings ₹256.47 crore
Key indicators (pre-issue): ROE/RoNW 42.91%, ROCE 28.09%, PAT margin ~23.24%, P/B ~10.76, EPS ₹9.63; implied P/E about 26.16x at the top end before factoring post-issue changes.
Use of Proceeds
- Acquisition of dry bulk carriers in the Supramax category in the secondary market (largest share of proceeds)
- Partial prepayment/repayment of borrowings
- General corporate purposes
Strengths
- Integrated model: Owned fleet and equipment help manage service reliability, costs, and turnaround times
- Long operating history: ~30 years in shipping and port logistics with promoter experience exceeding five decades
- Strong customer stickiness: Majority of revenue from existing customers, pointing to durable relationships
- Focus on non-major ports: Strategic niche with potentially lower competitive intensity
Risks to Consider
- Working capital intensive operations can strain cash flows, especially with port logistics cycles
- Exposure to unsecured borrowings and potential cross-default risks
- Port and jetty modernization or regulatory changes could alter operating dynamics
- Insurance coverage may be limited versus catastrophic risks in maritime operations
- FX risks related to overseas activities and inputs
- Recent revenue trend shows contraction from FY2023 to FY2025 despite improving profitability, which investors should examine carefully
Valuation and Market Buzz
With a price band of ₹240–₹252 and pre-issue EPS of ₹9.63, the indicated P/E near 26x positions the offer in line with a quality, asset-heavy logistics player showing strong return ratios; however, post-issue metrics will shift after expansion and balance-sheet changes. GMP indications around ₹30 suggested moderate listing optimism, but these are not official and can fluctuate.
How to Apply
- Apply via ASBA through net banking or UPI-enabled broker/trading apps during Aug 19–21
- Select the bid price within ₹240–₹252 and choose lots in multiples of 58 shares
- Approve UPI mandate promptly and track allotment on the registrar’s portal (Bigshare) after Aug 22
Bottom Line
Shreeji Shipping Global combines a sizable owned asset base, strong return ratios, and sticky customer relationships in a specialized port logistics niche. The fresh issue is geared to expand capacity with Supramax acquisitions and strengthen the balance sheet. Investors should weigh attractive profitability metrics and integrated capabilities against sector cyclicality, working capital intensity, leverage, and operational risks inherent to shipping and port logistics.