Monitoring Agency Report for the quarter ended on December 31, 2025 under Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
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Shreeji Shipping Global Limited submitted the Monitoring Agency Report from Crisil Ratings for Q3 FY26 (quarter ended Dec 31, 2025) on the use of its August 2025 IPO proceeds of Rs. 4,107.10 million (net Rs. 3,695.43 million after issue expenses). As of Dec 31, 2025, the company has utilized Rs. 1,587.44 million — loan pre-payment (Rs. 230 million) and general corporate purposes (Rs. 953.64 million, fully spent including Rs. 1.76 million on High Flash High Speed Diesel this quarter) are fully done, and Rs. 403.80 million of the Rs. 411.67 million issue expenses have been used. None of the Rs. 2,511.79 million earmarked for acquiring Supramax dry bulk carriers has been deployed yet, with the company stating secondary market vessel buys typically take 50–100 days. The remaining Rs. 2,519.65 million is parked in fixed deposits with DCB Bank (Rs. 1,500 million at 7.15%) and Jana Small Finance Bank (Rs. 1,011.79 million at 7.65%), plus small balances in current and monitoring accounts. The report confirms no deviation from the stated objects and no delay in implementation. A small amount of Rs. 14,616 is still pending receipt from one shareholder's bank account due to a GST-related hold.
Investors get comfort that IPO funds are being used as disclosed, with no deviation or misuse flagged, and idle cash is earning ~7% in bank FDs. However, the key growth project — vessel acquisition worth Rs. 2,512 million — has not started, so shareholders should watch progress here as it is central to the company's expansion plans.