Introduction
The shipping and logistics sector is gearing up for an exciting new entrant—Shreeji Shipping Global IPO. With a robust fleet of over 80 vessels and a strong foothold in dry-bulk cargo handling, this company is set to make waves on the bourses with its ₹410.71 crore fresh issue. Operating primarily along India’s west coast and Sri Lanka, Shreeji Shipping Global offers a comprehensive suite of cargo handling, transportation, and fleet chartering services, making it a key player in a niche yet vital market segment.
As the IPO opens for subscription from August 19 to August 21, 2025, investors are eyeing the potential for steady growth backed by long-standing client relationships and a well-established operational track record.
In this blog, we will cover everything you need to know about the Shreeji Shipping Global IPO — from key details and financials to strengths, risks, and valuation insights — helping you decide if this is the right investment for your portfolio.
Shreeji Shipping Global IPO Details: Everything You Need to Know
Shreeji Shipping Global Limited is coming to the market with a fresh issue IPO worth ₹410.71 crore. The issue is aimed at raising funds primarily for fleet expansion and debt repayment, signaling the company’s growth ambitions in the dry bulk cargo shipping space. With a strong presence across key non-major ports on India’s west coast and Sri Lanka, the company offers integrated shipping and logistics services backed by a fleet of over 80 vessels and more than 370 earthmoving machines.
Below are the key IPO details, dates, and objectives to help you understand the offering better.
IPO Details
| Parameter | Details |
|---|---|
| Issue Size | ₹410.71 crore |
| Issue Type | Fresh Issue (1,62,98,000 shares) |
| Price Band | ₹240 to ₹252 per share |
| Face Value | ₹10 per share |
| Minimum Lot Size | 58 shares |
| Minimum Retail Investment | ₹13,920 |
| Listing Exchanges | BSE, NSE |
| BRLMs | Elara Capital & Beeline Capital |
| Registrar | Bigshare Services Pvt. Ltd. |
Important Dates
| Event | Date |
|---|---|
| IPO Open Date | August 19, 2025 |
| IPO Close Date | August 21, 2025 |
| Allotment Date | August 22, 2025 |
| Refunds Initiated | August 25, 2025 |
| Shares Credit to Demat | August 25, 2025 |
| Tentative Listing Date | August 26, 2025 |
IPO Objectives
| Purpose | Amount (₹ Crore) |
|---|---|
| Acquisition of Supramax dry bulk carriers | 251.18 |
| Prepayment/repayment of outstanding borrowings | 23.00 |
| General Corporate Purposes | Remaining amount |
About Shreeji Shipping Global Ltd.
Shreeji Shipping Global Ltd. is a Jamnagar-based integrated shipping and logistics solutions provider with over three decades of industry expertise. Over the years, it has expanded its operations from a small cargo handler to a diversified service provider for both major and non-major ports in India and Sri Lanka.
As of March 31, 2025, the company operates more than 80 vessels—including barges, mini bulk carriers, tug boats, and floating cranes—along with over 370 earthmoving machines such as excavators, loaders, and tippers. Consequently, Shreeji can offer end-to-end solutions at 20+ ports, including Kandla, Navlakhi, Magdalla, Bhavnagar, Bedi, Dharmatar in India, and Puttalam Port in Sri Lanka.
Originally founded in 1995 as M/s. Shreeji Shipping, the business converted into a corporate entity in April 2024 to improve operational efficiency and capture new opportunities. Under the leadership of promoters Ashokkumar Haridas Lal and Jitendra Haridas Lal, who collectively bring more than 60 years of industry experience, the company has consistently strengthened its market presence.
Key Service Segments
- Cargo Handling – Lighterage, stevedoring, port services, and cargo management (79.39% of FY25 revenue).
- Transportation – Efficient port-to-premise and premise-to-port solutions (11.78%).
- Fleet Chartering & Equipment Rentals – Vessel and equipment leasing for domestic and international clients (7.80%).
- Other Operational Income – Scrap sales and sundry services (1.03%).
Cargo Operations (FY25)
During FY25, the company handled 15.71 MMT of cargo. Of this, 83.65% came from India—primarily through non-major ports—while 16.35% came from Sri Lanka. The cargo mix included coal, clinker, salt, iron ore, pet coke, sulphur, and limestone. As a result, Shreeji maintains a balanced revenue stream across multiple commodities and geographies.
Customer Base
In FY25 alone, the company served 106 customers, with over 92% of revenue generated from repeat clients. This strong retention rate reflects Shreeji’s ability to deliver consistent quality. Moreover, its clientele spans diverse sectors such as oil & gas, energy & power, FMCG, coal, metals, and steel, thereby reducing dependency on a single industry.
With the Indian port cargo market expected to grow at a CAGR of 10.80% until FY2030, Shreeji Shipping Global Ltd. is strategically positioned to leverage its integrated business model for future growth.
Shreeji Shipping Global IPO – Financials
Financial Performance (₹ in Crores)
| Particulars | FY25 | FY24 | FY23 |
|---|---|---|---|
| Total Income | ₹610.45 | ₹736.17 | ₹827.33 |
| Revenue from Operations | ₹607.61 | ₹731.00 | ₹826.99 |
| Profit After Tax (PAT) | ₹141.24 | ₹124.51 | ₹118.88 |
| Net Operating Cash Flow | ₹138.79 | ₹158.56 | ₹152.70 |
Shreeji Shipping Global has shown consistent profitability over the last three years, with PAT growing steadily from ₹118.88 Cr in FY23 to ₹141.24 Cr in FY25. Revenue saw a slight decline in FY25 compared to FY23, primarily due to softer demand and freight rate fluctuations. However, the EBITDA margins improved sharply, indicating strong operational efficiency and cost control. Cash flows remain healthy, which is a positive sign for debt servicing and future expansion.
Key Financial Ratios & KPIs
| Metric | FY25 | FY24 | FY23 |
|---|---|---|---|
| PAT Margin (%) | 23.24% | 17.03% | 14.38% |
| EBITDA (₹ Cr) | ₹200.68 | ₹197.89 | ₹188.71 |
| EBITDA Margin (%) | 33.03% | 27.07% | 22.82% |
| Return on Equity (RoE) | 42.91% | 43.61% | 58.17% |
| Return on Capital Employed (RoCE) | 28.09% | 35.33% | 38.05% |
| Debt-to-Equity Ratio | 0.75 | 0.50 | 0.69 |
| Debt Service Coverage Ratio | 15.49 | 7.60 | 2.84 |
| Current Ratio | 0.95 | 1.50 | 1.06 |
| Fixed Asset Turnover (Times) | 1.55 | 1.97 | 2.29 |
| Volume of Cargo Handled (MMTs) | 15.71 | 13.78 | 13.87 |
| Number of Customers Served | 106 | 102 | 96 |
Analysis:
- Profitability Surge – PAT margins improved to 23.24% in FY25, reflecting better cost control and operational efficiency.
- Leverage Position – Debt-to-equity at 0.75 is manageable, but has increased compared to FY24. Strong DSCR of 15.49 shows comfortable debt repayment capacity.
- Operational Efficiency – Cargo volumes grew steadily, and the customer base expanded from 96 in FY23 to 106 in FY25, indicating market penetration.
- Return Ratios – RoE remains extremely high at over 42%, showcasing exceptional shareholder returns.
Shreeji Shipping Global IPO – Valuation & Peers Comparison
Based on the IPO price band, the company’s valuation stands as follows:
| Metric | Pre-IPO | Post-IPO |
|---|---|---|
| EPS (₹) | 9.63 | 8.67 |
| P/E (x) | 26.16 | 29.07 |
| Price-to-Book Value (x) | – | 10.76 |
Peers Comparison of Shreeji Shipping Global IPO
According to the IPO RHP (Page no. 137), the company stated:
“There are no listed peer group companies (i.e., companies of comparable size in the same industry), in India or globally (outside India) that engage in a business similar to that of our Company. Accordingly, it is not possible to provide an industry comparison in relation to our Company.”
However, in our view, Shreeji Shipping Global Ltd operates in segments where it could face indirect competition from companies in container logistics, shipping, and supply chain solutions. The following table compares Shreeji Shipping’s IPO metrics with some possible peer companies:
| Company Name | LTP (₹) | P/E (x) | Market Cap (₹ Cr.) | Book Value (₹) |
|---|---|---|---|---|
| Shreeji Shipping Global Ltd (Post IPO) | 252.00* | 29.07 | 4,100.71 | 23.40* |
| Container Corporation of India Ltd (CONCOR) | 541.60 | 31.75 | 41,249.23 | 162.14 |
| Delhivery Ltd | 463.10 | 146.55 | 34,574.67 | 132.00 |
| Aegis Vopak Terminals Ltd | 246.65 | 212.63 | 27,328.61 | 42.05 |
| Blue Dart Express Ltd | 5,944.60 | 58.77 | 14,106.54 | 684.05 |
| Zinka Logistics Solutions Ltd (BLACKBUCK) | 520.60 | 25.67 | 9,336.01 | 68.93 |
Note: Shreeji Shipping’s figures marked with ( ) are based on FY25 annualized and post-IPO estimates derived from the RHP.*
Shreeji Shipping Global IPO GMP (Grey Market Premium)
The Grey Market Premium (GMP) for the Shreeji Shipping Global IPO is showing healthy investor interest ahead of listing. Based on the latest updates:
| GMP Date | IPO Price (₹) | GMP (₹) | Estimated Listing Price (₹) | Estimated Profit* (₹) |
|---|---|---|---|---|
| 13-Aug-2025 | 252.00 | ₹30 | ₹282 (+11.90%) | ₹1,740 |
Note: Estimated profit is calculated on the basis of the upper price band and latest GMP trends. Actual listing price may vary depending on market conditions and subscription levels.
💡 Analysis:
- The ₹30 GMP indicates moderate premium expectations in the grey market.
- At this GMP, the estimated listing gain is around 11.9% over the IPO price.
- A strong subscription, especially from QIBs and NIIs, could push the GMP higher closer to listing day.
Conclusion – Shreeji Shipping Global IPO Review & Strategies
The Shreeji Shipping Global IPO offers an intriguing proposition — a well-established player in integrated shipping logistics with strong financial growth, expanding operations, and clear industry tailwinds. While the valuation is on the higher side post-IPO, the business model and sector demand make it worth a serious look for both listing gains and long-term positioning.
Short-Term Strategy
In the short term, considering the current GMP of ₹30 and decent subscription momentum, the IPO could deliver double-digit listing gains if market sentiment remains stable. However, investors should keep a close watch on QIB and NII subscription numbers in the final bidding hours, as these often determine the actual listing pop.
Long-Term Strategy
From a long-term perspective, Shreeji Shipping’s expansion into newer shipping routes, integration of services, and potential demand surge in India’s export-import trade create a favorable growth runway. That said, investors should be mindful of sector cyclicality and global trade disruptions, which could impact margins. For those with a 2–3 year investment horizon, this IPO could be a strong addition to a logistics-focused portfolio.
Allotment Strategy
Given the expected decent subscription in the retail and NII categories, applying in multiple family accounts could improve allotment chances. Retail investors aiming for short-term listing gains may prefer applying at the cut-off price, while HNIs could consider leveraged applications if the GMP trends stay positive closer to the closing day.
“In the vast ocean of the stock market, opportunities sail by every day — but only those who spot the right vessel early enjoy the smoothest ride.”
Shreeji Shipping Global IPO – FAQs
1. What is the Shreeji Shipping Global IPO issue size?
The IPO is a book-built issue worth ₹410.71 crore, entirely a fresh issue.
2. What is the Shreeji Shipping Global IPO price band?
The price band is set at ₹242 to ₹252 per share.
3. When will the Shreeji Shipping Global IPO open and close?
It opens on August 19, 2025, and closes on August 21, 2025.
4. What is the lot size for the Shreeji Shipping Global IPO?
The lot size is 58 shares, and investors can apply for multiples thereof.
5. How can I apply for the Shreeji Shipping Global IPO?
You can apply through ASBA via your bank or via UPI-supported online broker platforms.
6. What is the Shreeji Shipping Global IPO GMP today?
As of August 13, 2025, the GMP is ₹30, indicating an estimated listing price of ₹282.
7. When will the allotment for Shreeji Shipping Global IPO be announced?
The allotment date is expected on August 22, 2025.
8. What does Shreeji Shipping Global do?
The company provides integrated logistics solutions, including shipping, freight forwarding, and warehousing.
9. Are there any listed peers for Shreeji Shipping Global?
According to the RHP, there are no direct peers, but it may compete with companies like CONCOR, Delhivery, and Blue Dart.
10. Is Shreeji Shipping Global IPO good for long-term investment?
It has strong growth potential in logistics, but valuation is high—suitable for selective long-term investors.
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