Shreeji Shipping Global Files Draft Papers with SEBI for IPO to Fund Expansion
Varahi media.com online news,Mumbai, January 28, 2025: Shreeji Shipping Global Ltd, a leading provider of shipping and logistics solutions for dry bulk cargo, has filed its draft red herring
Varahi media.com online news,Mumbai, January 28, 2025: Shreeji Shipping Global Ltd, a leading provider of shipping and logistics solutions for dry bulk cargo, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise funds through an Initial Public Offering (IPO).
The IPO comprises a fresh issue of 2 crore equity shares. Proceeds from the issue will primarily be used for the acquisition of dry bulk carriers in the supramax category, costing ₹289.4 crore, and for repaying ₹19.5 crore in debt.
As of September 2025, the company had total borrowings of ₹264.54 crore, as per the DRHP.
A flagship entity of the Jamnagar-based Shreeji Group, the company focuses on non-major ports and jetties, especially along India’s west coast. It has served over 20 ports and jetties, including major Indian ports like Kandla, non-major ports such as Navlakhi, Magdalla, Bhavnagar, Bedi, and Dharmatar, as well as an overseas port at Puttalam in Sri Lanka.
India’s port-based cargo handling is projected to grow at a compound annual growth rate (CAGR) of 10.80% to 2,849 million metric tons (MMTs) by Fiscal 2030 from 1,540 MMTs in Fiscal 2024, according to a Dun & Bradstreet (D&B) report. Ports in Gujarat are expected to grow even faster, with a 17.50% annual growth rate, increasing cargo volumes to 720 MMTs by Fiscal 2030 from 317.20 MMTs in Fiscal 2024.
India’s extensive coastline, with 12 major ports and 217 minor ports, plays a crucial role in its cargo handling capacity. Of these, 78 non-major ports are utilized for cargo operations, while the rest are used for fishing.
Financially, Shreeji Shipping Global reported a Profit After Tax (PAT) of ₹124.51 crore in FY 2023-24, up from ₹118.89 crore in the previous fiscal year. However, its total income for FY 2023-24 was ₹736.17 crore, down from ₹827.33 crore in FY 2022-23.
The IPO will be managed by Beeline Capital Advisors Private Ltd and Elara Capital (India) Private Ltd, acting as book-running lead managers.
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