Shreeji Shipping Global Raises Rs 123 Crore From Anchor Investors Ahead Of IPO
Shreeji Shipping Global Ltd. has raised Rs 123 crore from anchor investors ahead of its initial public offering, with the company allotting 48.89 lakh shares at Rs 252 apiece to 15 anchor investors.
Anchor Investors
Bank of India Small Cap Fund got the highest allocation of 14.61%. Bank of India Mid and Small Cap Equity and Debt Fund got the second highest allotment of 9.74% and Morgan Stanley Asia (Singapore) Pte., Aarth AIF Growth Fund and Viney Growth Fund got 8.12% stake in the company.
IPO Details
The company will launch its initial public offering on Tuesday to raise up to Rs 410.7 crore in fresh issue. The company has set a price band of Rs 240 to Rs 252 per share for its three-day IPO. The minimum application lot size is 58 shares.
The offer, which concludes on Thursday, is set to list on the BSE and the National Stock Exchange.
Usage of IPO Proceeds
Shreeji Shipping will use Rs 251 crore out of IPO proceeds for the acquisition of dry bulk carriers in the supramax category in the secondary market, and further use Rs 23 crore for repaying debt.
Financial Performance
The company reported a revenue of operations of Rs 607.6 crore in fiscal 2025, down 17% over the previous year. Net profit rose 13% to Rs 141 crore.
Investment Opportunity
With the Indian stock market showing signs of recovery, investors are looking for new opportunities to invest in. Shreeji Shipping Global’s IPO offers a chance for investors to be a part of the company’s growth story.
Conclusion
In conclusion, Shreeji Shipping Global’s IPO is an opportunity for investors to invest in a company with a strong track record of financial performance. With the company’s plans to use the IPO proceeds to acquire dry bulk carriers and repay debt, investors can expect a positive return on their investment.
As the Indian stock market continues to show signs of recovery, it is essential for investors to stay informed about the latest developments and trends. Indian stock market news can provide valuable insights and help investors make informed decisions.
Key Takeaways
- Shreeji Shipping Global has raised Rs 123 crore from anchor investors ahead of its IPO.
- The company has allotted 48.89 lakh shares at Rs 252 apiece to 15 anchor investors.
- The IPO will be launched on Tuesday to raise up to Rs 410.7 crore in fresh issue.
- The company will use Rs 251 crore out of IPO proceeds for the acquisition of dry bulk carriers and Rs 23 crore for repaying debt.