Shreeji Shipping Global Limited (SSGL) has announced its plan to open its Initial Public Offering (IPO) on Tuesday, 19 August 2025. The bidding process will close on Thursday, 21 August 2025. Anchor investors will have the opportunity to bid on Monday, 18 August 2025. Each bid must be for at least 58 equity shares, with a price range set between ₹240 to ₹252 per share.
The total IPO size consists of 16,298,000 equity shares, all being new issues with a face value of ₹10. The company intends to use the funds raised for acquiring ships in the supramax category from the secondary market, which is expected to cost around ₹2,511.79 million (approximately ₹251.18 crores). Additionally, SSGL plans to use ₹230 million to pay off some outstanding debts and the remaining funds for general corporate purposes.
Currently, there are no listed companies in India or globally that are similar to SSGL in terms of size and business operations. SSGL provides shipping and logistic solutions for dry bulk cargo at various ports and jetties in India and Sri Lanka. As of 31 March 2025, the company has managed a fleet of over 80 vessels, including barges, mini bulk carriers, tugboats, and floating cranes, along with 370 other marine equipment.
SSGL has established itself as a leading integrated shipping and logistics service provider, focusing on non-major ports along India’s western coastline. The company serves more than 20 ports, including Kandla, Navlakhi, Magdalla, Bhavnagar, Bedi, Dharamtar, and Puttalam in Sri Lanka. Its expertise in the industry allows it to cater to sectors such as oil and gas, energy, FMCG, coal, and metals, enhancing customer convenience with end-to-end services and boosting revenue growth.
SSGL provides services to a wide range of customers, including major corporations like Adani Enterprises Limited, Tata International Limited, and ArcelorMittal Nippon Steel India Limited. For the financial year 2025, the company reported revenue of ₹6,076.13 million, EBITDA of ₹2,006.82 million, and a net profit of ₹1,412.37 million.
The company has received a Letter of Intent (LOI) to establish floating crane facilities at the Shyama Prasad Mukherjee Port in Kolkata for cargo and container lightering/top-up services. Additionally, SSGL plans to enter the coal mining business through a consortium of partners and has secured an order worth ₹80,307.88 million from Eastern Coalfields Limited for a 25-year period.
SSGL holds a leading position in the integrated shipping and logistics service sector in India, with long-term relationships with key institutional customers. The company has established cargo handling operations in the dry bulk segment and has supported capabilities through its own fleet. Its financial performance reflects a proven track record of growth driven by operational efficiency and a customer-centric approach, led by experienced promoters and a dedicated management team.
The company aims to reduce costs, enhance operational efficiency, and strengthen its fleet and equipment. Its strategy focuses on expanding land-to-port operations, capturing industry opportunities, and diversifying its revenue base by attracting new customers and entering new sectors.
SSGL has filed its Red Herring Prospectus with the Registrar of Companies in Ahmedabad and plans to list its equity shares on the National Stock Exchange of India Limited (NSE) and BSE Limited. The designated stock exchange for this issue will be BSE Limited. This IPO follows SEBI regulations through a book-building process, ensuring a fair allocation of shares among qualified institutional buyers and retail investors.
The company emphasizes that potential investors should carefully review the associated risks detailed in the Red Herring Prospectus before making any investment decisions. The IPO will be managed by Beeline Capital Advisors Private Limited and Elara Capital (India) Private Limited.