Shreeji Shipping Global IPO subscribed 58 times on final day; QIB, NII portions see huge demand

The ₹410 crore initial public offering (IPO) of Shreeji Shipping Global, which opened for subscription on August 19, ended today, August 21, with the issue subscribed 58 times during the three-day bidding period.

It received bids for 66.26 crore shares against the total offer of 1.14 crore shares, resulting in an overall subscription of 58 times by the end of Day 3, according to exchange data.

The QIB (Qualified Institutional Buyers) category saw strong interest, with their portion subscribed 100 times, while the non-institutional investors’ portion was booked 72 times. The retail investors’ portion was subscribed 21 times.

The company proposes to use the proceeds from the issue towards the acquisition of dry bulk carriers in the supramax category in the secondary market, prepayment/repayment, in part or full of certain outstanding borrowings availed by the company, and general corporate purposes.

The allotment of shares is expected to be finalized on August 22, 2025, with a tentative listing on both the BSE and NSE scheduled for Tuesday, August 26, 2025.

About Shreeji Shipping Global

The company provides shipping and logistics solutions for dry bulk cargo at various ports and jetties in India and Sri Lanka, covering more than twenty locations. These include major Indian ports such as Kandla, non-major ports such as Navlakhi, Magdalla, Bhavnagar, Bedi, and Dharmatar, as well as the overseas port at Puttalam (Sri Lanka).

It primarily caters to customers across sectors, including oil and gas, energy and power, fast-moving consumer goods (FMCG), coal, and metals.

For the period ended March 31, 2025, and the fiscal years ended 2024 and 2023, the company handled total cargo volumes of 15.71 MMT, 13.78 MMT, and 13.87 MMT, respectively. During the same period, the cargo transported stood at 2.49 MMT, 2.74 MMT, and 2.96 MMT, respectively.

As of March 31, 2025, the company had a fleet of more than 80 vessels (including barges, mini bulk carriers (MBCs), tugboats, and floating cranes) and over 370 pieces of earthmoving equipment (including material handling machines, excavators, pay loaders, tippers, trailers, tankers, and other vehicles) serving its clients, according to the company’s RHP report.

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