“So, practically, there’s only a debt of Rs 23 crore, which is the working capital. It’s not the debt for which we are raising the funds. It’s for the growth trajectory to move on to the other ports,” the top executive emphasised.
The company is a key player in handling minor and tidal ports of Gujarat, the western coast of India and Sri Lanka.
The company’s growth blueprint extends beyond purchasing new vessels. Plans are underway to make non-monsoon ports operational year-round and to build additional coastal vessels, aligning with government initiatives like the Sagarmala and Bharatmala projects.
“We are planning to increase volumes. To reduce road congestion and rail traffic, we are planning to build additional coastal vessels. We are creating additional intermediate storage facilities outside the minor ports to create additional volumes at these ports.”
Lal also expressed confidence that geopolitical tensions would not impact their business, as the raw materials they handle are primarily sourced from unaffected regions like Indonesia, South Africa and Australia.
“Geopolitical situations willnot impact our business because we are a service-providing company,” he underlined.
The Shreeji Shipping Global IPO is a book build issue of Rs 410.71 crore. It comprises entirely a fresh issue of 1.63 crore shares. The price band for the IPO has been fixed between Rs 240 and Rs 252 per share. The IPO is open for subscription till Aug. 21.
