Shreeji Shipping Global Makes Strong Debut with 8% Premium

Shreeji Shipping Global shares debuted on the stock market with an 8% premium over the issue price. Valued at Rs 4,268.46 crore, their IPO saw a 58.10 times subscription. Plans include acquiring new carriers and repaying debt using proceeds from the IPO designed solely as a fresh issue.

Shares of Shreeji Shipping Global had a moderate debut in the market, listing with an 8% premium over the issue price of Rs 252.

The stock opened at Rs 271.85 on the BSE, marking a 7.87% increase, and at Rs 270 on the NSE, up 7.14%

The company's market capitalisation reached Rs 4,268.46 crore on the NSE. The IPO drew 58.1 times subscription, thanks to strong investor interest. Proceeds will finance the purchase of dry bulk carriers and debt repayment.

(With inputs from agencies.)