Shreeji Shipping Global Limited is launching its Initial Public Offering (IPO) to strengthen operational capacity, reduce debt, and support strategic expansion. The IPO comprises a completely fresh issue of 1.63 crore shares aggregating to Rs. 410.71 crores with a face value of Rs. 10 each.
The total offer size aggregates up to Rs. 410.71 crore. The IPO opens for subscription on August 19, 2025, and closes on August 21, 2025. The shares will be listed on both the NSE and the BSE after the IPO concludes.
GMP of Shreeji Shipping Global Ltd IPO
As of August 19th, 2025, the shares of Shreeji Shipping Global Ltd in the grey market were trading at a 11.90 percent premium. The shares in the Grey Market traded at Rs. 282. This gives it a premium of Rs. 30 per share over the cap price of Rs. 252.
Overview of Shreeji Shipping Global Ltd
Shreeji Shipping Global Limited is a shipping and logistics company incorporated in 1995, specializing in dry-bulk cargo movement. Headquartered in India, the company primarily operates through non-major ports and jetties along the west coast of India and Sri Lanka.
It offers a broad range of services, including cargo handling (lightering, stevedoring, and cargo management), transportation (port-to-premise and vice versa), fleet chartering, and equipment rentals.
The company has served at over 20 ports and jetties, including key locations such as Kandla, Navlakhi, Magdalla, Bhavnagar, Bedi, Dharmatar, and Puttalam. As of March 31, 2025, Shreeji Shipping operates a fleet of over 80 vessels—including barges, mini bulk carriers (MBCs), tugboats, and floating cranes- and manages a portfolio of more than 370 earthmoving machines such as excavators, payloaders, tippers, trailers, tankers, and other material handling equipment.
The company’s cargo handling segment includes STS (ship-to-ship) lighterage, stevedoring, and end-to-end cargo management services. It caters to customers across key sectors such as oil & gas, energy, FMCG, and metals, and employs over 1,173 permanent staff as of FY25.
Promoters of Shreeji Shipping Global
The promoters of Shreeji Shipping Global Limited, Ashokkumar Haridas Lal and Jitendra Haridas Lal, bring decades of industry expertise in the shipping and logistics sector. Their deep understanding of dry-bulk cargo operations, port logistics, and maritime infrastructure has been fundamental to the company’s growth and operational excellence. Their leadership and strategic direction have been instrumental in building Shreeji Shipping into a trusted logistics partner for clients across critical industries such as oil & gas, energy, FMCG, and metals.
Lead Managers of Shreeji Shipping Global IPO
Beeline Capital Advisors Private Limited and Elara Capital (India) Private Limited are acting as the Book Running Lead Manager. Bigshare Services Private Limited is the registrar managing investor applications and allotment.
Objectives of the IPO Offer
The proceeds from Shreeji Shipping Global’s IPO will be primarily utilized to support the company’s expansion and financial optimization initiatives. A significant portion, amounting to Rs. 251.18 crore, will be allocated for the acquisition of dry bulk carriers in the Supramax category from the secondary market, enabling the company to strengthen its fleet capacity.
Additionally, Rs. 23.00 crore will be used for the pre-payment or repayment, in part or full, of certain outstanding borrowings, thereby improving the company’s debt profile. The remaining funds will be directed towards general corporate purposes, supporting the overall growth and operational needs of the business.
Financial Analysis of Shreeji Shipping Global
The company has demonstrated a steady financial performance over the past three years. Total income declined from Rs. 827.33 crore in FY23 to Rs. 736.17 crore in FY24, reflecting a decrease of 11%, but fell further to Rs. 610.45 crore in FY25, marking a further decline of 17%.
Despite the dip in revenue, profit after tax (PAT) showed consistent growth, rising from Rs. 118.89 crore in FY23 to Rs. 124.51 crore in FY24, an increase of 4.7%, and further improving to Rs. 141.24 crore in FY25, reflecting a 13.4% growth.
Over the three years, while revenue contracted at a negative CAGR, PAT grew at a CAGR of around 8.9%, indicating stronger cost management and improved profitability despite declining top-line figures.
Shreeji Shipping Global Ltd Vs Peers
There are no listed peer group companies, either in India or globally, that are of comparable size and engage in a business similar to that of this company.
Shreeji Shipping Global Strengths and Weaknesses
Strengths
- The company is a prominent player in the integrated shipping and logistics service provider in India.
- It is Long-term institutional customer relationships in key sectors
- They established cargo handling operations for Dry Bulk Cargo
- They have Operational capabilities of their own fleet
- It has a Proven Track Record of Growth in Financial Performance.
- They are Experienced Promoters and a committed Management Team.
Weakness
- Customer Concentration Risk: A significant portion of revenue is derived from the top ten customers, with the single largest customer contributing over 17.39% of revenue from operations in the six months ended September 30, 2024.
- Industry Dependency Risk: The Company’s revenue is closely tied to the performance of industries in which its customers operate. Fluctuations or downturns in those industries may result in customer attrition, reduced work volumes, or pricing pressure.
- Volume and Margin Sensitivity: Business success is dependent on generating sufficient cargo volume and optimizing revenue to maintain profit margins. Inability to achieve target operating or net profit margins may negatively affect the Company’s financial condition and results.
- Competitive Pressure: The Company faces intense competition from both domestic and international players in the shipping and logistics sector. Competitive pressures may lead to reduced market share and adversely impact revenues, profitability, and cash flows.
Conclusion
Shreeji Shipping Global Ltd.’s IPO offers a compelling entry into India’s coastal shipping and logistics sector. With a strong asset base, proven profitability, and strategic expansion plans, the company is well-positioned for future growth. While declining revenues warrant caution, consistent profit gains reflect operational strength. However, investors should consider potential market risks, competition, and the evolving dynamics of the shipping industry before making investment decisions.
Written by Sridhar J
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