IPO update: Shreeji Shipping sets price band at ₹240-252; Patel Retail fixes price band 15% below pre-IPO round 

Gujarat-based Shreeji Shipping Global and Maharashtra-based retail supermarket chain Patel Retail on Monday unveiled price bands for their upcoming initial public offerings (IPOs), looking to collectively raise over ₹650 crore.

Shreeji Shipping Global, which provides cargo handling, transportation, fleet chartering, and equipment rental services, has set a price band of ₹240-252 for its IPO, aiming to garner ₹410.71 crore at the upper end of the issue price. The issue is entirely a fresh issue of 1.63 crore shares.

On the other hand, Patel Retail has fixed the price band at ₹237-255 a share for its public issue, looking to raise ₹242.76 crore. The IPO is a combination of a fresh issue of equities worth ₹217.21 crore and an offer for sale of shares amounting to ₹25.55 crore.

Patel Retail Ltd has set the price band 15% below its pre-IPO round. In November 2024, the retail supermarket chain operator had raised ₹15 crore from various investors at ₹300 per share in the pre-IPO round.

Here’s all you need to know about these upcoming IPOs:

Shreeji Shipping Global IPO will open for subscription on August 19 and close on August 21. The allotment of shares to eligible shareholders is expected to be finalised on August 22, while tentative date for listing of stock on the BSE and NSE is August 26, 2025.

The lot size for the IO is 58 and in multiple thereafter. The company has reserved half of the issue for qualified institutional buyers (QIB), up to 15% for non-institutional investor (NII), and remaining 35% for retail investors.  

Incorporated in 1995, Shreeji Shipping Global focuses on non-major ports and jetties, especially along the west coast of India and Sri Lanka. It has provided services at over 20 ports and jetties, including Kandla, Navlakhi, Magdalla, Bhavnagar, Bedi, Dharmatar, and Puttalam.

The company will use IPO proceed mainly to acquire Dry Bulk Carriers in Supramax category in the secondary market. A part of the capital will be used to repay debt availed by the company and meet general corporate purposes.

Meanwhile, Patel Retail IPO will also open for bidding between August 19-21, while shares are expected to be listed on the BSE and NSE on August 26, 2025.

The retail company has reserved 30% of the issue for qualified institutional buyers (QIB), up to 25% for non-institutional investor (NII), and remaining 45% for retail investors.  

Formed in 2008, Patel Retail operates in tier-III cities and nearby suburban areas, offering a wide range of products, including food, non-food (FMCG), general merchandise, and apparel. As of May 31, 2025, the company operated 43 stores under brand name “Patel’s R Mart” across suburban areas of Thane and Raigad districts in Maharashtra, with a total retail area of approximately 1,78,946 square feet.

The company will use fresh equity proceeds to repay debts, funding of working capital requirements of the company, and meet general corporate purposes.

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