Shreeji Shipping Global IPO Listing Date: What you should know before it hits NSE and BSE

Shreeji Shipping Global IPO listing date: Following robust subscription, shares of shipping and logistics company Shreeji Shipping Global Ltd are all set to hit the capital markets on Tuesday, August 26.

As investors are waiting for the Shreeji Shipping Global IPO listing, which is less than 24 hours away, here are key things you should know.

Shreeji Shipping Global IPO: Subscription details

According to the consolidated data on the NSE portal, the IPO secured 66,28,01,380 bids as against 1,14,08,600 shares on offer, leading to a 58.10 times subscription.

Shreeji Shipping Global IPO: Objectives

The company's IPO, which sought to raise ₹410.71 crore, was exclusively a fresh issuance of 1.63 crore shares. There is no offer for sale component. The price band was set at ₹240 to ₹252 per share.

Of the fresh issue proceeds, ₹251.18 crore will be used to acquire dry bulk carriers in the Supramax category in the secondary market, and ₹23 crore for repayment of certain borrowings. A part will also be used for corporate general purposes.

"We expect to receive the benefits of the listing of the equity shares on the stock exchanges, which include enhancement of our company’s visibility and brand image and creation of a public market for our equity shares in India, among others," the firm said in its RHP.

Shreeji Shipping Global IPO listing date and time

Shreeji Shipping Global's shares will be listed on the NSE and the BSE on Tuesday, August 26, at 10 am.

Shreeji Shipping Global IPO GMP

According to investorgain.com and media reports, Shreeji Shipping Global's unlisted shares are trading at ₹286 per share, reflecting a grey market premium of 13.49% over the upper price band of ₹252.