Shreeji Shipping Global files DRHP with SEBI to mobilise funds via IPO

27 Jan 2025 Evaluate

Shreeji Shipping Global has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The IPO is entirely a fresh issue of 2 crore equity shares.

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. Beeline Capital Advisors and Elara Capital (India) are the book-running lead managers to the issue. 

The flagship company of Jamnagar-based Shreeji Group primarily focuses on non-major ports and jetties, particularly along the west coast of India.  


Peers
Company Name CMP
Shipping Corpn. 163.25
GE Shipping 910.95
Dredging Corp 641.95
Seamec 911.70
Transworld Shipping 282.50
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