Shreeji Shipping lists around 8% above IPO price on debut

Shreeji Shipping IPO Listing: Shreeji Shipping shares made their stock market debut on August 26, listing at Rs 271.85 each on the BSE, reflecting a premium of nearly 8 per cent over the IPO price of Rs 252 per share.

On the NSE, the stock opened at Rs 270 apiece, trading at about a 7 per cent premium to its IPO price.

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Shreeji Shipping Global’s IPO opened on August 19 and closed on August 21. The book-built issue was worth Rs 410.71 crore, including a fresh issue of 1.63 crore shares. The allotment was finalized on August 22.

Investor interest was robust across segments:

Qualified Institutional Buyers (QIBs): Subscribed 110.41 times

Non-Institutional Investors (NIIs): 72.70 times

Retail Investors: 21.94 times

Investment Details:

Retail lot size: 58 shares (minimum investment Rs 13,920)

Small NIIs (sNIIs): 14 lots (812 shares) totaling Rs 2,04,624

Big NIIs (bNIIs): 69 lots (4,002 shares) totaling Rs 10,08,504

Use of Proceeds:

Rs 251.18 crore to purchase Supramax category Dry Bulk Carriers in the secondary market

Rs 23 crore for repayment of borrowings

Remaining funds for general corporate purposes

Other Details:

The IPO’s book-running lead manager was Beeline Capital Advisors Pvt. Ltd., and the registrar was Bigshare Services Pvt. Ltd.