Shreeji Shipping Sets Sail for IPO to Expand Fleet

Shreeji Shipping Global Ltd seeks to raise funds through an IPO, issuing 2 crore equity shares. The company plans to allocate Rs 289.4 crore for acquiring dry bulk carriers and Rs 19.5 crore for debt repayment. It targets non-major ports along India's west coast and aims for substantial growth.

Shreeji Shipping Global Ltd is steering towards an initial public offering (IPO) as it files draft papers with the Securities and Exchange Board of India (SEBI). The company plans to issue 2 crore equity shares as part of this financial venture.

The shipping firm, based in Jamnagar, intends to use a portion of the IPO proceeds, specifically Rs 289.4 crore, to purchase dry bulk carriers in the supramax category. Additionally, Rs 19.5 crore will be directed towards debt repayment, addressing the Rs 264.54 crore total borrowings reported as of September 2025.

Capitalizing on non-major port operations, Shreeji Shipping emphasizes its strategic presence along India's west coast with services spanning major ports and international locations such as Puttalam Port in Sri Lanka. The company's financial health shows a robust profit after tax increase in FY 2023-24, although total income experienced a decrease.

(With inputs from agencies.)