Shreeji Shipping Global to Launch ₹4,107 Million IPO on August 19; Price Band ₹240–₹252

Shipping Giant SSGL to Raise ₹410 Crore via IPO; Listing on NSE, BSE Planned

Plans to Expand Fleet, Strengthen Operations, and Foray into Coal Mining

BILKULONLINE | Ahmedabad | 13 Aug  2025

Integrated shipping and logistics solutions provider Shreeji Shipping Global Ltd (SSGL) is set to open its Initial Public Offering (IPO) on Tuesday, August 19, 2025, with the issue closing on Thursday, August 21, 2025. The Anchor Investor bidding will open a day earlier, on Monday, August 18, 2025.

The IPO comprises a 100% fresh issue of 16,298,000 equity shares of face value ₹10 each, with a price band of ₹240–₹252 per share. Investors can bid for a minimum of 58 equity shares and in multiples thereof. The total issue size at the upper band amounts to ₹4,107.10 million.

Issue Proceeds and Strategic Plans

• Acquisition of Dry Bulk Carriers in the Supramax category from the secondary market, estimated at ₹2,511.79 million
• Pre-payment/repayment of certain outstanding borrowings of ₹230 million
• General corporate purposes

The company has also received a Letter of Intent (LOI) to set 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 tenure of 15 years. Additionally, SSGL plans to enter the coal mining business with a consortium of partners, having secured a ₹80,307.88 million order from Eastern Coalfields Limited over a 25-year contract period.

A Growing Force in Shipping & Logistics

Founded as a dry bulk cargo handler, SSGL now operates an integrated logistics network across India and Sri Lanka, managing a fleet of 80+ vessels (including barges, mini bulk carriers, tug boats, and floating cranes) and 370+ earthmoving equipment. As of March 31, 2025, it has served over 20 ports, including Kandla, Navlakhi, Magdalla, Bhavnagar, Bedi, Dharmatar, and Puttalam Port in Sri Lanka.

Its client list includes leading names such as Ceylon Shipping Corporation Limited, Adani Enterprises Limited, UltraTech Cement Limited, ACC Limited, Torrent Power Limited, Ambuja Cements Limited, and ArcelorMittal Nippon Steel India Limited. In Fiscal 2025, the company reported ₹6,076.13 million in revenue, ₹2,006.82 million EBITDA, and ₹1,412.37 million in PAT.

Management Speaks

Speaking at the Ahmedabad media interaction, Ashok H Lal, Chairman and Managing Director, said: “Our IPO marks a significant milestone in our growth journey. The proceeds will help us expand our fleet, strengthen operational efficiency, and enter new sectors like coal mining, thereby diversifying our revenue streams.”

“With our focus on non-major ports along India’s west coast, we have carved a niche in providing end-to-end, single-window shipping and logistics solutions. We aim to leverage this expertise for future expansion” he added.

Viraj Lal, Senior VP, highlighted the strategic positioning of SSGL.

IPO Structure & Allotment Details

• The issue is being made through the Book Building Process in compliance with SEBI ICDR Regulations
• Not more than 50% for Qualified Institutional Buyers (QIBs), with up to 60% of the QIB portion for Anchor Investors
• Not less than 15% for Non-Institutional Bidders (NIIs), with sub-categories for different investment sizes
• Not less than 35% reserved for Retail Individual Investors
• All investors, except Anchor Investors, must apply via the ASBA process using their bank account/UPI.
• The shares are proposed to be listed on NSE and 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 to the issue.

Vinod Kumar Pabari, Harshida Bhanushali, CFO, along with representatives from the merchant banking team, including CS Nevil Savjani, Beeline Merchant Banker,  Astha Daga, Senior VP, and were present at the media briefing.

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