About the Company:
Shreeji Shipping Global Ltd provides shipping and logistic solution for dry bulk cargo at various Ports and Jetties at India and Sri Lanka.
As of March 31, 2025, Company has a fleet of more than 80 vessels (consisting of barges, mini bulk carriers (MBCs), tug boats and floating cranes) and more than 370 earthmoving equipment (consisting of material handling machines, excavators, pay loaders, tippers including trailers, tankers and other vehicles) in services of our clients.
Company has a legacy of more than three decades in the shipping and logistic industry with prominent experience in cargo handling, transportation, fleet chartering and equipment rentals and other ancillary services.
Company primarily caters to customers in various sectors including Oil and Gas, Energy and Power, Fast Moving Consumer Goods (FMCG), Coal and Metal Industry.
We are the flagship company of Jamnagar based “Shreeji Group”, promoted and led by Ashokumar Haridas Lal and Jitendra Haridas Lal, having combined experience of more than sixty (60) years in the shipping and logistics industry.
Under their leadership, our company has evolved into an integrated shipping and logistic solution provider for dry bulk cargo handling at all-weather and seasonal ports in India and Sri Lanka.
Though, we provide our services at major ports, we are primarily focused on non-major ports and jetties, particularly along the West Coast of India.
As of March 31, 2025, we have provided our services at more than twenty (20) ports and jetties including major Indian ports at Kandla, non-major ports at Navlakhi, Magdalla, Bhavnagar, Bedi and Dharmatar and overseas port at Puttalam Port (Sri Lanka).
Company’s Overview:
Services offered by the company:
Company offers comprehensive shipping and logistic solutions for dry bulk cargo, including cargo handling and transportation services. Under our cargo handling segment, we provide STS (Ship to Ship) Lighterage, Stevedoring and other port services including cargo management services.
Further, as a part of logistic supply chain, we also provide transportation services for dry bulk cargo including port to premise drop-off and vice versa.
Company’s Service Offerings:
Cargo handling services which primarily includes lightering, stevedoring and other port services including cargo management services.
- Transportation which includes port to premise drop off services and vice versa providing complete logistic solutions.
- Fleet Chartering and Equipment rentals which primarily includes the providing our vessels and earthmoving equipment on charter basis. We also provide other necessary equipment needed for loading and unloading of cargo.
- Other operational income which primarily includes the sale of scrap and other sundry activities.
Company’s Revenue from Various Services:
Company’s Geography wise Revenue:
Total Cargo Volume handled by the Company:
For the period ended March 31, 2025, and for the Fiscal ended 2024, and 2023, our company handled total cargo volume of 15.71 MMTs, 13.78 MMTs, and 13.87 MMTs respectively. For the same period, volume of cargo transported by our company was 2.49 MMTs, 2.74 MMTs, and 2.96 MMTs, respectively.
Details of KPIs for the Fiscal 2025, 2024 and 2023:
Management Team:
- Mr. Ashokkumar Haridas Lal (Designation: Chairman and Managing Director)
- Mr. Jitendra Haridas Lal (Designation: Joint Managing Director)
Objectives of the Issue:
Fresh Issue: (Rs.410 cr)
- Acquisition of Dry Bulk Carriers in Supramax category in the secondary market; (“Acquisition of Vessels”).
- Pre-payment/ re-payment, in part or full, of certain outstanding borrowings availed by our Company.
- General Corporate Purposes.
Fund Utilization:
| Particulars | Amount (Rs. in Crores) |
|---|---|
| Acquisition of Dry Bulk Carriers in Supramax category in the secondary market (“Acquisition of Vessels”) | 251.17 cr |
| Pre-payment/ re-payment, in part or full, of certain outstanding borrowings availed by our Company |
23.0 cr |
Proposed schedule of implementation and deployment of Net Proceeds:
Company proposes to deploy the Net Proceeds towards the Objects in accordance with the estimated schedule of implementation and deployment of funds, as set out in the table below:
Acquisition of Dry Bulk Carriers in Supramax category provides numerous operational, financial, and strategic
benefits as set out below:
1. Expansion of Service Portfolio: We offer logistic solutions for dry bulk cargo, including cargo handling, transportation, fleet chartering and equipment rentals and other ancillary services. At present, we provide such services once the cargo has arrived at the designated port. On completion of acquisition of vessels, we will be able to provide end to end logistic solutions from loading port to drop-off of cargo at the premise of our customers, resulting in increase in the service portfolio of our Company.
2. Competitive Advantage: By acquiring its own dry bulk carrier, our Company intend to enhance its credibility in the logistics and cargo handling industry. Owning dry bulk carriers allow our Company to offer tailored shipping solutions to clients. It can also create an opportunity for our Company to enter an exclusive contract,
ensuring stable business.
3. Synergy between existing operations: Dry bulk carrier can help synergise the Company’s existing lighterage operations. It may also allow for more flexible unloading and loading procedures, reducing the customers need for port-to-port trans-shipments.
Peer Group Comparison:
- There are no listed peer group companies (i.e., companies of comparable size in the same industry), in India or globally (outside India) that engage in a business similar to that of Shreeji Shipping Global Ltd. Accordingly, it is not possible to provide an industry comparison in relation to our Company.
Positives for the Company:
Prominent player in integrated shipping and logistic service provider in India.
- Company provides shipping and logistic solution for dry bulk cargo at various ports and jetties in India and Sri Lanka. As of March 31, 2025, we have fleet of more than 80 vessels (consisting of barges, mini bulk carriers (MBCs), tug boats and floating cranes) and more than 370 earthmoving equipment in services of our clients.
- Company has a legacy of more than three decades in the shipping and logistic industry with prominent experience in cargo handling, transportation, fleet chartering and equipment rentals and other port services.
- In Fiscal 2025, Company derived 92.84% of our revenue from operation from our India operations and rest of the revenue from operations in Sri Lanka, amounting to 7.16%%, respectively of our revenue from operations.
Company is an integrated shipping and logistics solution provider.
- Company is an integrated shipping and logistics solution provider that focuses on cargo handling at all-weather and seasonal ports in India and Sri Lanka. Our cargo handling operations consists of various services including Lightering services, stevedoring services and other port services including cargo management services.
- In addition to our cargo handling services, company also offers transportation for dry bulk cargo and fleet chartering and equipment rentals services to our customers.
Long-term institutional customer relationships in key sectors.
- Company primarily caters to the customers in various sectors including Oil and Gas, Energy and Power, Fast Moving Consumer Goods (FMCG), coal and metal industry. Our business is conducted on a business-to-business basis. For the Fiscal 2025, 2024, and 2023 we have served 106, 102, 96 customers, respectively.
Experienced Promoters and committed Management Team.
- Company is led by our individual Promoters, Ashokkumar Haridas Lal and Jitendra Haridas Lal. Both of our promoters have a combined experience of more than sixty (60) years in shipping and logistic industry. The promoters ventured in the shipping and logistic industry as a partnership firm in the name of “M/s. Shreeji Shipping” which was incorporated in 1995.
Expand into new sectors and geographies.
- Currently, company is primarily catering to the customers engaged in the Oil and Gas, Energy and Power, Fast Moving Consumer Goods (FMCG), coal and metal industry.
- Company plans to develop solutions and services that can be adopted by customers, which can further enhance customer experience and allow us to expand further.
- The company has received a Letter of Intent (LOI) for setting up Floating Crane Facilities for cargo and container lightening/topping-up at Diamond Harbour and other deep draft locations under Syama Prasad Mookerjee Port, Kolkata, for 15 years.
Financials of the Company:
| (in Crores) | FY 23 | FY 24 | FY 25 |
|---|---|---|---|
| Revenue | 827.32 | 736.17 | 610.45 |
| Net Profit | 118.8 | 124.5 | 141.2 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 19th August 2025 |
| Issue Closes on | 21st August 2025 |
| Issue Price | Rs.252 |
| Face Value | Rs.10 |
| Retail Category Allocation | 35 % |
| Minimum Lot | 58 Shares |
| Minimum Investment | Rs.14,616 |
| Issue Constitutes | 10 % |
| Issue Size | Rs.410 cr ($ 47 million ) |
| Market Cap | Rs.4105 cr ($ 471 million) |
| Listing at | NSE & BSE |
| Equity Shares Offered (Fresh) | 1,62,98,000 (Rs.410 cr) |
| Equity Shares Prior to the Issue | 14,66,20,254 |
| Equity Shares after the Issue | 14,29,18,254 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) | Debt Equity Ratio (D/E) |
|---|---|---|---|---|
| 9.83 | 25.63 | 42.91% | 23.41 | 0.75 |
Also Read: Complete List of NSE/BSE Holidays List>>
Important Dates:
| Finalization of Basis of Allotment | on or Before 22nd August 2025 |
| Initiation of Refunds | on or Before 25th August 2025 |
| Credit of Equity Shares: | on or Before 25th August 2025 |
| Listing Date: | on or Before 26th August 2025 |
| Company Contact Info: |
|---|
| Shreeji Shipping Global Ltd “Shreeji House”, Town Hall Circle, Kalavad, Jamnagar – 361001, Gujarat, India. Tel: +91 288 2553331 Email: info@shreejishipping.in Website: www.shreejishipping.in |
| Registrar to the Issue: |
|---|
| Bigshare Services Private Limited S6-2, 6thFloor, Pinnacle Business Park, Mahakali Caves Road, Next to Ahura Centre, Andheri East, Mumbai – 400093, Maharashtra, India Telephone: +91 22-62638200 E-mail: ipo@bigshareonline.com Website: www.bigshareonline.com |
| Check IPO Allotment Status: |
|---|
Bigshare: http://www.bigshareonline.com/IPO/Allotment
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