IPO Details
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IPO Size
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Schedule of Shreeji Shipping Global Ltd IPO
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End date
Allotment of bids
Refund Initiation
Listing on exchange
About Shreeji Shipping Global Ltd IPO
The IPO comprises fresh issue of up to 20,000,000 equity shares of face value of ₹10 each. There is no offer for sale. It’s a 100% book-built issue.
Objectives of Shreeji Shipping Global Ltd IPO
- Acquisition of dry bulk carriers in Supramax category in the secondary market
- Pre-payment/re-payment, in part or full, of certain outstanding borrowings availed by the company
- General corporate purposes
Shreeji Shipping Global Ltd IPO Valuation
| Detail | Information |
|---|---|
Upper Price Band | TBA |
Fresh Issue | Up to 20,000,000 equity shares |
Offer for Sale | NA |
Basic EPS in ₹ for FY 24 | 8.49 |
Shreeji Shipping Global Ltd IPO Share Offer and Subscription Details
| Investor Category | Shares Offered |
|---|---|
QIBs | Not more than 50% of the issue |
Non-institutional Bidders | Not less than 15% of the issue |
Retail Individual Bidders | Not less than 35% of the issue |
Industry Outlook
India's logistics industry is a vital component of the country's economic growth, poised to achieve significant milestones due to a surge in e-commerce, government initiatives, and technological advancements. As the Indian economy expands, the logistics sector is expected to see unprecedented growth, driven by a range of factors including enhanced infrastructure and evolving market demands.
Freight movement in India is predominantly reliant on road transportation, accounting for 59% of goods moved in ton-kilometers, followed by rail (35%), waterways (6%), and air (1%) India's logistics market is estimated to have valued at USD 317 Bn in 2024 and is projected to reach USD 517 Bn by 2029.
Company Information
Shreeji Shipping Global Ltd provides shipping and logistic solutions for dry bulk cargo at various Ports and Jetties in India and Sri Lanka. As of September 30, 2024, the company has fleet of more than 75 vessels, consisting of barges, mini bulk carriers (MBCs), tug boats and floating cranes, and more than 380 earthmoving equipment consisting of material handling machines, excavators, pay loaders, tippers including trailers, tankers and other vehicles in services of its clients.
It has a legacy of more than two and half decades in the shipping and logistic industry with prominent experience in cargo handling, transportation, fleet chartering and equipment rentals and other ancillary services.
For the last three fiscal years, on a restated consolidated basis, its revenue from operations, EBITDA and PAT from continuing operations grew at a CAGR of 13.05%, 18.51% and 22.14%, respectively.
Shreeji Shipping Global Ltd Strengths
Prominent player in integrated shipping and logistic service provider in India
The company is one of the prominent players in integrated shipping and logistic solution provider for dry bulk cargo handling at all-weather and seasonal ports at India and Sri Lanka, with a fleet of more than 75 vessels and 380 earth moving equipment as of Sept 30, 2024.
Long-term institutional customer relationships in key sectors
The 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. Its business is conducted on a business-to-business basis. For the six months period ended on September 30, 2024, it had served a total of 76 customers and for the Fiscal 2024, 2023 and 2022, it had served 102, 96 and 95 customers, respectively.
Established cargo handling operations for dry bulk cargo
The company handles a large variety of dry bulk cargo including coal, clinker, salt, iron ore, pet coke, sulphur, limestone and other commodities. For the six months ended September 30, 2024 and for the Fiscal 2024, Fiscal 2023 and Fiscal 2022, it handled cargo of 6.99 MMTs, 13.78 MMTs, 13.87 MMTs and 14.24 MMTs, respectively, as part of its cargo handling business.
Risks of Shreeji Shipping Global Ltd IPO
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Customer concentration: The company derives a significant portion of its revenue from operations from its top ten customers, with its single largest customer contributing more than 17.39% of its revenue from operations in the six months period ended September 30, 2024. Loss of any of these customers or a reduction in purchases by any of them could adversely affect its business, results of operations and financial condition.
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Stiff competition: The company faces significant competition from domestic and international shipping and logistics players which may lead to a reduction in its market share, which in turn may adversely affect its business, results of operations, financial condition and cash flows.
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Geographical concentration in port operations: The company’s cargo handling services are dependent on the ports and jetties on which it provides its services. Majority of these ports and jetties are situated across the west coast of India. Any adverse developments affecting its operations in such ports and jetties, could have an adverse impact on its business, financial condition, results of operations and cash flows.
All Financial Information about Shreeji Shipping Global
Particulars (in Rs. crores)
Particulars (in Rs. crores)
Peer 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 the company.
Anchor Investor Bidding Date TBA
IPO Registrar and Book Running Lead Manager
- Registrar: Bigshare Services Pvt Ltd
- Book running lead managers: Beeline Capital Advisors Pvt Ltd and Elara Capital (India) Pvt Ltd
Business Model
The company offers comprehensive shipping and logistic solutions for dry bulk cargo, including cargo handling and transportation services. Under its cargo handling segment, it provides STS (Ship to Ship) Lighterage, Stevedoring and other port services including cargo management services. Its service offerings include cargo handling services, transportation, fleet chartering and equipment rentals and other operational income.
Further, as a part of the logistic supply chain, it also provides transportation services for dry bulk cargo including port to premise drop-off and vice versa. The company’s complete integrated end to end shipping and logistic services provides its customers with a preferable option of single-window solutions thereby negating the need to approach multiple service providers at different levels in the chain of shipping and logistic services.
Company Growth Trajectory
The company’s revenue from operations has grown at a CAGR of 13.05% from ₹571.973 crore in FY 22 to ₹731.003 crore in FY 24. Its EBITDA has grown at a CAGR of 18.51% from ₹140.907 crore in FY 22 to ₹197.891 crore in FY 24.
Shreeji Shipping Global Ltd Profit and Loss
| Parameter | FY 24 | FY 23 | FY 22 |
|---|---|---|---|
Total Income (in ₹ crore) | 736.174 | 827.329 | 572.620 |
Profit Before Tax (in ₹ crore) | 166.876 | 159.463 | 114.171 |
Profit After Tax (in ₹ crore) | 124.512 | 118.885 | 83.462 |
EPS in ₹ | 8.49 | 8.11 | 5.69 |
Shreeji Shipping Global Ltd Balance Sheet
| Parameters | FY 24 | FY 23 | FY 22 |
|---|---|---|---|
Profit Before Tax (in ₹ crore) | 166.876 | 159.463 | 114.171 |
Net Cash from Operating Activities (in ₹ crore) | 160.027 | 157.933 | 143.164 |
Net Cash from Investing Activities (in ₹ crore) | (39.103) | (47.140) | (219.808) |
Net Cash from Financing Activities (in ₹ crore) | (122.117) | (112.010) | 75.491 |
Cash and Cash Equivalents (in ₹ crore) | 2.449 | 3.643 | 4.860 |
How to Check Allotment Status of Shreeji Shipping Global Ltd IPO?
Visit the Registrar’s Website
Visit the official website of Bigshare Services Pvt Ltd and click on any one of the three servers. Select the name of the company from the dropdown followed by selection of application number, beneficiary ID or PAN number. Enter captcha and click on search.
Check on the Bombay Stock Exchange Website
The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to www.bseindia.com and find the 'Investors' tab. Under 'Investors', click on 'IPO'. This will take you to the IPO allotment status page.
On the BSE IPO page, follow these steps:
- Select 'Equity' from the dropdown menu
- Choose 'Shreeji Shipping Global Ltd' in the next dropdown
- Enter your application number
- Enter your PAN
- Click 'Search'
Your Shreeji Shipping Global Ltd IPO status will be displayed.
Verify on the National Stock Exchange Website
The National Stock Exchange (NSE) has an IPO Bid Verification module. Use this to check Shreeji Shipping Global Ltd IPO allotment status.
Go to www.nseindia.com and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'.
On the NSE IPO Bid Verification page, enter:
- Application number
- PAN
Then click 'Submit'. Your Shreeji Shipping Global Ltd IPO bid and allotment details will be displayed.
How to Apply for Shreeji Shipping Global Ltd IPO?
- Step 1: Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
- Step 2: Specify IPO details - Enter the number of lots and the price you wish to apply for.
- Step 3: Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
- Step 4: Mandate Notification - Your UPI app will receive a mandate notification to block funds.
- Step 5: Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.
This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI-prescribed Combined Risk Disclosure Document before investing. Brokerage will not exceed SEBI’s prescribed limit.
Shreeji Shipping Global Ltd IPO FAQs
What is the Shreeji Shipping Global Ltd IPO?
The Shreeji Shipping Global Ltd IPO consists entirely of a fresh issue of up to 20,000,000 equity shares. There is no offer for sale.
When will Shreeji Shipping Global Ltd IPO go live?
Though the exact dates of Shreeji Shipping Global Ltd are yet to be announced, it’s expected to go live soon.
Who is the Chairman and MD of Shreeji Shipping Global Ltd?
Ashokkumar Haridas Lal is the chairman and MD of Shreeji Shipping Global Ltd.
What is the lot size of shares of Shreeji Shipping Global Ltd IPO?
The lot size of the IPO is yet to be known.
From where can I read more about the IPO of Shreeji Shipping Global Ltd?
You can read more about the IPO of Shreeji Shipping Global Ltd from the company’s draft red herring prospectus (DRHP) here.
