| Price | Lot Size | Issue Date | Issue Size |
|---|---|---|---|
| ₹ 240 to ₹ 252 | 58 | 19th Aug, 2025 –21th Aug, 2025 | ₹410.71 Cr |
Shreeji Shipping Global Ltd
Shreeji Shipping Global Ltd. is a shipping and logistics solutions provider specializing in dry bulk cargo handling across ports and jetties in India and Sri Lanka. Founded in 1995 as M/s. Shreeji Shipping, a partnership firm, converted its business into a corporate entity on April 11, 2024, to improve operational efficiency and benefit from a structured corporate framework. The company offers integrated, end-to-end services including cargo handling and transportation. Its service portfolio features ship-to-ship (STS) lighterage, stevedoring, cargo management, and port-to-premise logistics. With this comprehensive range, the company serves a diverse client base across industries such as Oil & Gas, Energy, FMCG, Coal, and Metals. The integrated service model provides single-window solutions, allowing clients to reduce reliance on multiple vendors while ensuring efficiency, scalability, and flexibility. Strategically, the company has established a strong presence at non-major ports and jetties along the West Coast of India, while also operating at major ports such as Kandla. As of FY25, it had expanded its services to more than 20 ports and jetties, including Navlakhi, Magdalla, Bhavnagar, Bedi, Dharmatar, and Puttalam in Sri Lanka. With over three decades of operational experience, the company has developed significant expertise in cargo handling, transportation, fleet chartering, equipment rentals, and related services. It is the flagship entity of the Jamnagar-based “Shreeji Group,” promoted by Ashokumar Haridas Lal and Jitendra Haridas Lal, who together bring over sixty years of combined experience in shipping and logistics. Operationally, the company has demonstrated consistent cargo handling performance. For FY23, FY24 and FY25, it managed cargo volumes of 13.8 MMT, 13.7 MMT, and 15.7 MMT, respectively. During the same period, transportation volumes were 2.9 MMT, 2.7 MMT, and 2.5 MMT, respectively. The company’s extensive asset base, diversified service portfolio, and integrated logistics model position it as a preferred partner for bulk cargo management, supporting both revenue stability and long-term growth.
Objective of the Shreeji Shipping Global Ltd IPO
The company proposes to utilize net proceeds towards funding the following objects:
- Acquisition of Dry Bulk Carriers in the Supramax category in the secondary market;
- Pre-payment/ re-payment, in part or in full, of certain outstanding borrowings availed by the company; and
- General corporate purposes
Rationale To Shreeji Shipping Global Ltd IPO
Prominent player in integrated shipping and logistics services in India
The company is a leading provider of integrated shipping and logistics solutions in India, specializing in dry bulk cargo handling at all-weather and seasonal ports. With over thirty years of experience, a fleet of more than 80 vessels, and over 370 earthmoving equipment units, it has developed strong operational capabilities and scale, allowing it to handle large cargo volumes across India and Sri Lanka. The company primarily operates on a business-to-business basis, focusing strategically on non-major ports and jetties, especially along India’s West Coast, while also maintaining a presence at major ports like Kandla. By FY25, it had serviced more than 20 ports and jetties in India and Sri Lanka and had previously expanded its fleet chartering services internationally, including in Guinea, West Africa. The business is mainly India-focused, with FY25 revenue share of 92.8% from domestic operations and 7.2% from Sri Lanka. Cargo handling remains the primary source of revenue, contributing 72.2% of total operating income in FY25. Between FY23 and FY25, the company consistently managed cargo volumes of over 11 to 13 million metric tonnes at Indian ports, showing resilience despite cyclical industry trends. Its ability to operate at large scale and handle significant cargo volumes distinguishes it from smaller regional competitors. Its integrated service model, covering cargo handling, fleet chartering, and logistics, offers clients a comprehensive single-window solution across sectors such as Oil & Gas, Energy, FMCG, Coal, and Metals. This diversification fosters client retention and presents opportunities for cross-selling. Supported by a strong asset base, over sixty years of promoter experience, and a proven track record of managing large cargo volumes across various ports, the company is well-positioned to benefit from increasing trade flows and the long-term growth potential in India’s port-led infrastructure and logistics sectors.
Operational capabilities of the large owned fleet a key competitive advantage
The company’s integrated fleet ownership provides a key competitive advantage in the cargo handling and marine logistics industry. As of March 31, 2025, the fleet comprised 83 vessels including 63 self-propelled barges, 5 mini bulk carriers, 8 motor tugs, and 7 floating cranes, used in lightering, marine transportation, and cargo handling operations. Besides marine assets, the company owns 376 units of earthmoving equipment, including excavators, pay loaders, trailers, tippers, tankers, and material handling machines, boosting its onshore handling and transportation strengths. This asset-backed model decreases reliance on third-party providers and improves cost efficiency. Notably, the diversified fleet offers flexibility to meet customer needs and address operational issues, which is vital in the constantly changing port logistics environment. Maintenance is mainly done in-house by a team of 94 skilled engineers, mechanics, and technicians who perform preventive repairs and upgrades. Outsourcing is reserved for specialized tasks or warranty services. This structure helps reduce downtime, prolong asset life, and maintain high operational efficiency. Additionally, the company earns revenue from its fleet through chartering and equipment rentals to other industry players. In FY25, income from these supplementary activities reached Rs. 473.9 million, representing 7.8% of total operational revenue. Although secondary, this segment provides a reliable additional income source and enhances overall asset utilization. Moreover, owning a large and diversified fleet creates significant barriers for new competitors, as replicating such an asset base requires substantial upfront investment and a lengthy development period.
Valuation of Shreeji Shipping Global Ltd IPO
Shreeji Shipping Group (SSG) is a leading provider of integrated shipping and logistics solutions for dry bulk cargo, with a fleet of over 80 vessels and more than 370 earthmoving equipment units, serving ports and jetties across India and Sri Lanka. The company aims to improve operating margins by focusing on cost optimization, enhancing asset utilization, and expanding its portfolio of integrated, value-added logistics services across the dry bulk cargo value chain. It has demonstrated strong and consistent margin growth, with EBITDA margins increasing from 22.8% in FY23 to 33.0% in FY25, and PAT margins rising from 14.4% in FY23 to 23.2% in FY25, driven by operational efficiency, competitive pricing, and cost control. The capital structure remains healthy, with a debt-to-equity ratio of 0.75x in FY25 and a net debt-to-equity ratio of 0.44x, offering sufficient scope for growth. Proceeds from the issue will be used strategically to acquire Supramax category vessels, strengthening its fleet and increasing cargo handling capacity. Since there are no direct listed peers in India offering integrated shipping and logistics solutions, SSG presents a unique opportunity in the domestic dry bulk cargo handling industry. At the upper price band of Rs 252, SSG is valued at a P/E multiple of 25.6x FY25 earnings. Given the company’s expanding margins, scalable business model, and growth potential, we believe the valuation, although at a premium, is justified. We recommend investors to SUBSCRIBE to the issue with a long-term investment horizon.
What is the Shreeji Shipping Gloabal Ltd IPO?
The initial public offer (IPO) of Shreeji Shipping Gloabal Limited offers an early investment opportunity in Shreeji Shipping Gloabal Ltd . A stock market investor can buy Shreeji Shipping Gloabal Ltd IPO shares by applying in IPO before All Shreeji Shipping Gloabal Ltd shares get listed at the stock exchanges. An investor could invest in Shreeji Shipping Gloabal Ltd IPO for short term listing gain or a long term.
How to apply for the Shreeji Shipping Gloabal Ltd IPO through StoxBox?
To apply for the Shreeji Shipping Gloabal Ltd IPO through StoxBox one can apply from the website and also from the app. Click here
When will the Shreeji Shipping Gloabal Ltd IPO open?
Shreeji Shipping Gloabal Ltd IPO is opening on 19th Aug 2025. Apply Now
What is the lot size of the Shreeji Shipping Gloabal Ltd IPO?
The Lot Size of Shreeji Shipping Gloabal Limited IPO is 58 equity shares. Login to your account now.
When is the Shreeji Shipping Gloabal Ltd allotment date?
The allotment Date for Shreeji Shipping Gloabal Ltd IPO is 22nd Aug 2025. Login to your account now.
When is the Shreeji Shipping Gloabal IPO listing date?
The listing Date for Shreeji Shipping Gloabal Ltd IPO is 26th Aug 2025. Login to your account now
What is the minimum investment required for the Shreeji Shipping Gloabal Ltd IPO?
In the Retail segment the minimum investment required is Rs. 14,616. Login to your account now
What is the maximum investment allowed for the Shreeji Shipping Gloabal Limited IPO?
In the Retail segment the maximum investment requirement is Rs. 1,90,008. Login to your account now
What are the risks associated with investing in the Shreeji Shipping Gloabal Ltd IPO?
- The company remains heavily reliant on its largest customer, which accounted for 20.9%, 15.2%, and 16.8% of revenue from operations in FY25, FY24, and FY23, respectively. Such dependence exposes the business to higher counterparty risk, as any decrease in offtake, price renegotiation, or loss of this customer could significantly affect revenue visibility and profitability.
- The company’s revenues are heavily reliant on the performance of cyclical industries such as Oil & Gas, Energy & Power, and Coal. Customers from these industries accounted for 54.1%, 49.5%, and 46.2% of revenue from operations in FY25, FY24, and FY23, respectively. This concentration exposes the company to sector-specific risks, including regulatory changes, commodity price volatility, and demand fluctuations.
- A substantial portion of the company’s revenue is derived from cargo handling services, making it a key driver of financial performance. This dependence creates concentration risk, as any disruption, inefficiency, or inability to maintain service quality in cargo handling could materially affect revenue generation.
When will the Shreeji Shipping Gloabal Ltd IPO shares be credited to my Demat account?
The Shreeji Shipping Gloabal Ltd IPO be credited to the account on allotment date which is 25th Aug 2025. Login to your account now
Where can I find the Shreeji Shipping Gloabal Limited IPO prospectus?
The prospectus of Shreeji Shipping Gloabal Limited IPO prospectus can be find on the website of SEBI, NSE and BSE
