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Chandigarh: Shreeji Shipping Global Limited (“SSGL”), a leading integrated shipping and logistics solutions provider in India, has announced the opening of its Initial Public Offering (IPO) of equity shares on Tuesday, 19 August 2025, with the issue closing on Thursday, 21 August 2025. The Anchor Investor Bidding Date is set for Monday, 18 August 2025.
The Price Band for the IPO has been fixed at ₹240 to ₹252 per equity share of face value ₹10 each. The Floor Price is 24 times the face value of the equity shares, and the Cap Price is 25.2 times the face value. Bids can be made for a minimum of 58 equity shares and in multiples of 58 thereafter.
Issue Structure and Utilisation of Proceeds
The total issue size comprises a 100% fresh issue of 16,298,000 equity shares with a face value of ₹10 each. The net proceeds from the fresh issue will be utilised for:
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Acquisition of vessels (Dry Bulk Carriers in the Supramax category from the secondary market), estimated at ₹2,511.79 million (₹251.18 crore).
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Pre-payment/repayment of certain outstanding borrowings, estimated at ₹230 million (₹23 crore).
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General corporate purposes.
There are currently no listed peer group companies, in India or globally, that are comparable in size and operate in the same business segment as SSGL.
Company Overview
SSGL provides shipping and logistics solutions for dry bulk cargo at various ports and jetties in India and Sri Lanka. As of 31 March 2025, the company operates a fleet of over 80 vessels, including barges, mini bulk carriers, tug boats, and floating cranes, along with more than 370 earthmoving equipment.
Its operations are primarily focused on non-major ports and jetties along India’s West Coast and have served more than 20 ports including Kandla, Navlakhi, Magdalla, Bhavnagar, Bedi, Dharmatar, and Puttalam Port in Sri Lanka. Leveraging its industry expertise and extensive transportation network, SSGL caters to diverse sectors such as Oil & Gas, Energy & Power, FMCG, Coal, and Metals, offering end-to-end single-window services that enhance customer convenience and drive revenue growth.
Clientele
The company’s customer portfolio includes Ceylon Shipping Corporation Limited, Adani Enterprises Limited, Torrent Power Limited, Tata International Limited, RSPL Limited, Shree Digvijay Cement Corporation Limited, UltraTech Cement Limited, Ambuja Cements Limited, ACC Limited, Agarwal Coal Corporation Private Limited, Taranjot Resources Private Limited, Mohit Minerals Limited, Balaji Malts Private Limited, FC Agarwal Coal Private Limited, Green Gold Global Resources Private Limited, A T Trade Overseas Private Limited, PRH Resources Private Limited, Global Logistics, and ArcelorMittal Nippon Steel India Limited.
For Fiscal Year 2025, the company reported:
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Revenue from operations: ₹6,076.13 million
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EBITDA: ₹2,006.82 million
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Profit after tax: ₹1,412.37 million
Growth Plans and Strategic Initiatives
SSGL has received a Letter of Intent (LOI) for setting up Floating Crane Facilities for cargo and container lightening/topping-up at Diamond Harbour and other deep draft locations under Syama Prasad Mookerjee Port, Kolkata, for a period of 15 years.
In addition, the company plans to enter the coal mining business through a consortium of partners. It has secured an order from Eastern Coalfields Limited valued at ₹80,307.88 million (excluding GST) over a 25-year contract period.
Industry Positioning
SSGL is a prominent player in the integrated shipping and logistics sector in India, known for its long-standing relationships with institutional customers across multiple industry segments. Its dry bulk cargo handling operations are supported by a robust fleet, enabling operational independence and efficiency. The company has a strong track record of growth, underpinned by its customer-centric approach, operational expertise, and cost-optimisation strategies.
Its business is led by experienced promoters and supported by a committed management team with extensive industry knowledge. The company’s strategy moving forward focuses on expanding operations from land to port, diversifying its customer base, and capitalising on new sector opportunities.
IPO Process and Allocation Details
The IPO is being made through the Book Building Process in accordance with SEBI ICDR Regulations:
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Not more than 50% of the issue will be available for allocation to Qualified Institutional Buyers (QIBs), with up to 60% of this portion available to Anchor Investors.
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Not less than 15% of the issue will be available for allocation to Non-Institutional Bidders (NIBs), split between application sizes of ₹0.20 million to ₹1 million and above ₹1 million.
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Not less than 35% of the issue will be available for allocation to Retail Individual Bidders.
All potential bidders (except Anchor Investors) must apply through the ASBA process, with UPI IDs required for UPI-based applications.
The equity shares offered are proposed to be listed on both the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE), with BSE as the designated stock exchange.
Beeline Capital Advisors Private Limited and Elara Capital (India) Private Limited are the Book Running Lead Managers for the IPO.
The Red Herring Prospectus can be accessed here: RHP Link.
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