Shreeji Shipping Global Ltd: Sailing into New Ventures and Markets

Shreeji Shipping Global Ltd is setting a price band for its Rs 411-crore IPO. The company plans to acquire dry bulk carriers and expand its international presence in marine assets. It has secured a long-term LOI for floating crane facilities and plans to enter the coal mining sector.

Shreeji Shipping Global Ltd, a prominent shipping and logistics solutions provider, has announced the pricing for its Rs 411-crore initial public offering, setting the price band at Rs 240-252 per share. The company aims to use proceeds to acquire dry bulk carriers and expand its marine assets abroad.

In a significant development, Shreeji has received a Letter of Intent to establish floating crane facilities at Syama Prasad Mookerjee Port, Kolkata, for fifteen years. Additionally, the company continues to maintain a robust operational fleet, serving over 20 ports domestically and in Sri Lanka.

Director Krishnaraj Lal revealed plans for fleet expansion tailored to port-specific needs, leveraging economies of scale. As part of its growth strategy, Shreeji Shipping looks to enter the coal mining business through a consortium, having secured a contract with Eastern Coalfields Limited.

(With inputs from agencies.)