Shreeji Shipping Global IPO - Listing Performance & Details

Shreeji Shipping Global Limited was constituted as a partnership firm in June 1995, converted into a private limited company in April 2024, and became a public limited company in November 2024. It is headquartered in Jamnagar, Gujarat, and works in the shipping and logistics sector, focusing on dry-bulk cargo.

The company provides integrated shipping and logistics services, including lightering, stevedoring, cargo management and customs clearance, along with port-to-premise transportation, fleet chartering and equipment rentals. As of March 2025, it operated a fleet of more than 80 vessels, including barges, mini bulk carriers, tug boats and floating cranes, along with more than 370 pieces of earthmoving equipment, and it served across 20-plus ports and jetties on the west coast of India and in Sri Lanka, including Kandla, Navlakhi, Magdalla and Puttalam. It handled 15.71 million metric tonnes of cargo in FY25, largely coal, coke and sulphur, serving industries including oil and gas, power, coal, FMCG and metals, with about 92% of FY25 revenue from repeat customers. The promoters are Ashokkumar Haridas Lal and Jitendra Haridas Lal.

Total income declined from Rs 827.33 crore in FY23 to Rs 736.17 crore in FY24 and Rs 610.45 crore in FY25 amid a demand slowdown on certain cargo routes, while profit after tax rose from Rs 118.89 crore in FY23 to Rs 124.51 crore in FY24 and Rs 141.24 crore in FY25, aided by improving margins, as per the RHP. The IPO was a mainboard book-built issue of about Rs 410-411 crore on the NSE and BSE, structured entirely as a fresh issue of up to 2 crore equity shares of face value Rs 10 each, with no offer for sale, priced at Rs 240-252 per share, and it listed on 26 August 2025. Net proceeds from the fresh issue were earmarked mainly for acquiring dry bulk carriers in the Supramax category in the secondary market (about Rs 289.4 crore), repayment of certain debt (about Rs 19.5 crore), and general corporate purposes.