Shreeji Shipping Global IPO Listing: Investors’ Eyes on Market Debut
Today is a big day for stock market investors as Shreeji Shipping Global IPO is going to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). The craze of IPO market is at its peak at this time and with every new listing, the expectations of investors are also rising. Shreeji Shipping Global IPO is being seen as a new opportunity for investors, in which the grey market premium (GMP) has already given positive signals.
Shreeji Shipping Global IPO Listing Today
The subscription window of Shreeji Shipping Global IPO was opened on 19 August and closed on 21 August. The IPO allotment was finalized on 22 August and the official listing of shares is scheduled to take place today on 26 August. Market experts expect the stock to have a strong debut. The grey market premium is indicating around ₹34, which means IPO listing gains could be around 13-15%. This suggests that the stock could list around ₹286 as compared to its upper price band of ₹252.
Shreeji Shipping Global IPO GMP Signals
Grey market premium i.e. GMP is seen as an important indicator by investors. Shreeji Shipping Global IPO GMP was trading at ₹34, which indicates a healthy listing gain. But experts also say that short-term momentum could be strong, but in the long term, the company will have to face the challenges of global trade and freight cycle.
According to Harshal Dasani, Business Head, INVasset PMS, “The fundamentals of the company are strong and profitability metrics are good, but valuations are slightly stretched. Capital raised through the IPO will be mainly used to buy dry-bulk carriers and repay debt. In the short term, the stock could be a tactical play, but long-term exposure will have to be carefully monitored.”
Shreeji Shipping Global IPO Details
This IPO was a book-built issue with a total size of ₹410.71 crore. In this, 1.63 crore fresh shares were issued. The lot size for retail investors for the IPO was kept at 58 shares, which means a minimum investment of ₹13,920 was required.
There was a clear bifurcation for non-institutional investors as well. Small NIIs had to invest in a minimum of 14 lots i.e. 812 shares, which is equal to ₹2,04,624. Big NIIs had to apply for 69 lots i.e. 4,002 shares, which amounts to ₹10,08,504.
Shreeji Shipping Global IPO Subscription Status
The subscription demand of the IPO created a buzz in the market. Overall subscription reached 58.10 times. Qualified Institutional Buyers (QIBs) showed the most interest and their subscription was 110.41 times. The response of non-institutional investors was also tremendous, in which their subscription was 72.70 times. Retail investors also showed their trust and their subscription was 21.94 times.
These strong subscription numbers are a clear sign that the investor sentiment in the market was positive regarding Shreeji Shipping Global IPO.
Shreeji Shipping Global IPO Fund Utilization
The Company has clearly stated in its prospectus that the amount of ₹ 251.18 crore raised from the IPO will be used to purchase Supramax category Dry Bulk Carriers. These carriers will be purchased from the secondary market which will increase the operational capacity of the company.
Apart from this, ₹23 crore will be used for debt repayment, which will reduce financial pressure on the balance sheet. The remaining money has been kept for general corporate purposes, which will help expand the business and smoothen daily operations.
Beeline Capital Advisors Pvt. Ltd. has acted as the book-running lead manager of the IPO, while Bigshare Services Pvt. Ltd. is the registrar.
Shreeji Shipping Global IPO Listing Outlook
Now the question is whether Shreeji Shipping Global IPO should be a short-term play or a long-term hold for investors? Experts say that this can be a good opportunity for investors who had applied for listing gains. GMP signals and strong subscription demand indicate that the listing could create a good momentum.
But those who are thinking for the long-term should be a little cautious. Dry-bulk shipping industry is heavily dependent on global trade and freight cycle. If global demand fluctuates or freight rates fall, it could impact the company’s earnings.
Nevertheless, strategies for debt repayment and acquiring new carriers could improve both the company’s financial position and growth potential.
Conclusion
Shreeji Shipping Global IPO listing is creating an exciting moment in the market today. Grey market premium has set a positive tone and subscription demand is also strong. Investors may get good momentum in the short-term, but for the long-term, industry cycles and global trade volatility will have to be closely monitored.
Disclaimer:
This article is for informational purposes only. The details given here are not financial advice of any kind. Stock market investments come with risk, so before taking any decision, definitely take the advice of your financial advisor.
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