Shreeji Shipping Global Share Price: Shreeji Shipping Global IPO is going to enter the stock market today, 26 August. The company’s shares will be listed on both BSE and NSE. This IPO opened on 19 August and closed on 21 August. At the same time, the allotment was finalized on 22 August.
Shreeji Shipping Global IPO GMP and Possible Listing Price
According to market experts, Shreeji Shipping Global IPO GMP remained at around ₹ 34, which indicates that the stock may be listed at a premium of about 13–15% over the issue price. That is, this stock can debut at around ₹ 286 per share as against its upper price band of ₹ 252.
Shreeji Shipping Global IPO Subscription: Tremendous demand
The IPO received a great response from investors. The subscription data was as follows:
- Total subscription: 58.10 times
- Qualified Institutional Buyers (QIB): 110.41 times
- Non-Institutional Investors (NII): 72.70 times
- Retail Investors: 21.94 times
These figures show that investors’ confidence in the company has been very strong.
Shreeji Shipping Global IPO Issue Size and Investment Details
- IPO Size: ₹410.71 crore
- Fresh Issue: 1.63 crore shares
- Retail Investor Lot Size: 58 shares (₹13,920 minimum investment)
- Small NII (sNII): Minimum 14 lots (812 shares) = ₹2,04,624
- Big NII (bNII): Minimum 69 lots (4,002 shares) = ₹10,08,504
Use of Funds
The company has stated that out of the net proceeds:
- ₹251.18 crore will be used to purchase Supramax category Dry Bulk Carriers from the secondary market.
- ₹23 crore will be used for partial or full repayment of debt.
- The remaining amount will be spent on corporate needs.
Experts’ opinion
Experts say that the company’s fundamentals are strong and profitability is also good. However, valuations look a bit stretched. There is a possibility of short-term gain on listing, but for long-term investment, it will be necessary to carefully look at the company’s performance and the cycle of the dry bulk shipping industry.
Shreeji Shipping Global IPO has received tremendous response from investors and its GMP is pointing towards a strong listing. However, experts believe that this stock can give good returns in the short-term, but long-term investors should proceed with caution.
