Shreeji Shipping Global IPO: GMP in front of the list of signals strong debut for stocks

The Gray Market Premium (GMP) indicated a modest debut for Shreeji Shipping Global shares on Tuesday, August 26. The Initial Public Offer Award (IPO) was completed on August 22, after the subscription window, which opened on August 19 and closed on August 21. Shreeji Shipping Global IPO GMP The GMP for Shreeji Shipping Global IPO stood at 34. It rose the potential listing gain of about 13.5 percent, with shares expected to have a list at £ 286 against the top price of £ 252. Shreeji Shipping Global IPO details The IPO was a book-built edition worth £ 410.71, consisting of a new issue of 1.63 crore shares. The lot size for retail investors was set on 58 shares, translating a minimum investment of £ 13.920. For non -institutional investors, the small NII (SNII) category needed an investment in 14 lots (812 shares) of £ 2,04,624, while the big NII (BNII) category needed 69 lots (4,002 shares), translated into £ 10,08,504. The IPO was a strong question, and was subscribed to a total of 58.10 times. The qualified Institutional Buyers (QIB) section is a massive 110.41 times subscribed, while the category of non -institutional investors (NII) saw 72.70 times a subscription. Retail participation also remained strong, with 21.94 times subscription. As set out in its prospectus, Shreeji Global Plan to utilize £ 251.18 crore from the net yield for the acquisition of dry bulk controllers in the Supramax category in the secondary market. A sum of £ 23 crore goes to partial or completion of certain outstanding loans. The balance funds will be deployed for general corporate purposes. Beeline Capital Advisors Pvt. Ltd. acted as the book that runs general manager for the edition, while Bigshare Services Pvt. Ltd. Was the Registrar. About the company founded in 1995 is Shreeji Shipping Global Limited in the shipping and logistics sector, focusing on cargo with dry bulk. The company has built up a strong presence at non-large ports and Jetties, mainly along the West Coast of India and Sri Lanka. Over the years, Shreeji Shipping Global has offered his services at more than 20 ports and Jetties, including Kandla, Neilhi, Magdalla, Bhavnagar, Bedi, Dharmatar and Puttalam. Disclaimer: The views and recommendations given in this article are those of individual analysts. This does not represent the views of coin. We advise investors to check with certified experts before making investment decisions.