Shares of Shreeji Shipping Limited made a positive market debut on Tuesday, opening at ₹270 per share, marking a 7.14% premium over its IPO price of ₹252. For retail investors, this translated into a profit of ₹1,044 per lot, while small HNI applicants gained ₹14,616 per lot on listing. Each retail lot comprised 58 shares, requiring an investment of ₹13,920.
IPO subscription and investor response
The ₹410.71 crore IPO garnered robust investor interest, being subscribed 58.10 times overall. The segment-wise subscription was as follows:
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QIBs: 110.41x
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NIIs: 72.70x
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Retail investors: 21.94x
Fund utilisation plan
According to the prospectus, Shreeji Shipping Global plans to allocate ₹251.18 crore from the net proceeds towards the purchase of Supramax category Dry Bulk Carriers in the secondary market. An additional ₹23 crore will be utilised for partial or full repayment of certain borrowings, with the balance earmarked for general corporate purposes.
IPO structure and intermediaries
The issue was a book-built IPO, comprising a fresh issue of 1.63 crore shares.
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Lot size: 58 shares for retail (₹13,920 minimum investment).
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sNII minimum bid: 812 shares (₹2,04,624).
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bNII minimum bid: 4,002 shares (₹10,08,504).
The IPO was managed by Beeline Capital Advisors Pvt. Ltd. as the lead manager, while Bigshare Services Pvt. Ltd. acted as the registrar.
