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Shreeji Shipping Global Ltd, which provides shipping and logistic solution for dry bulk cargo, has filed draft papers with markets regulator Sebi seeking its approval to raise funds through an initial public offering (IPO). The IPO is entirely a fresh issue of 2 crore equity shares, according to the draft red herring prospectus (DRHP). The company is planning to use Rs 289.
4 crore out of the IPO proceeds for acquisition of dry bulk carriers in the supramax category in the secondary market, and further use Rs 19.5 crore for repaying debt. As of September 2025, the company had a total borrowings of Rs 264.
54 crore, the draft papers filed on Friday showed. The flagship company of Jamnagar-based Shreeji Group primarily focuses on non-major ports and jetties, particularly along the west coast of India. Until September 2024, it has provided services at more than 20 ports and jetties including major Indian ports at Kandla, non-major ports at Navlakhi, Magdalla, Bhavnagar, Bedi and Dharmatar and overseas port at Puttalam Port (Sri Lanka).
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20 MMTs in Fiscal 2024, representing a 17.50 per cent annual growth rate. India has a long coastline with 12 major ports and 217 minor ports.
Among these, 78 non-major ports handle cargo, while others are used for fishing. On the financial front, the company's profit after tax (PAT) for FY 2023-24 remained strong at Rs 124.51 crore, up from Rs 118.
89 crore in the previous fiscal year , and total income for FY 2023-24 stood at Rs 736.17 crore, down from Rs 827.33 crore in FY 2022-23.
Beeline Capital Advisors Private Ltd and Elara Capital (India) Private Ltd are the book-running lead managers to the issue. (You can now subscribe to our ETMarkets WhatsApp channel ).
