Pursuant to Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Regulations 41(4) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 ( SEBI ICDR Regulations ); please find enclosed herewith the Monitoring Agency Report for the quarter ended on March 31, 2026, in relation to utilization of the proceeds raised through issuance of equity shares by way of the Initial Public Offer (IPO) of the Company.
SHREEJISPG · price
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Shreeji Shipping Global Limited submitted its Q4 FY2026 monitoring agency report (quarter ended March 31, 2026) for its Rs 4,107.10 million IPO completed in August 2025. Out of Rs 4,107.10 million raised, Rs 1,594.92 million (38.8%) has been utilized. Rs 2,511.79 million allocated for vessel acquisition remains completely unutilized due to 'geopolitical developments and ongoing negotiations.' Borrowings repayment (Rs 230 million) and general corporate purposes (Rs 956.93 million) are nearly fully deployed. Issue expenses utilized: Rs 407.99 million of Rs 408.30 million. Unutilized proceeds of Rs 2,512.17 million are parked in fixed deposits with DCB Bank (Rs 1,500 million) and Jana Small Finance Bank (Rs 1,011.79 million), earning Rs 35.55 million interest. Rs 0.01 million is pending receipt due to a shareholder account hold for GST recovery action.
The significant delay in vessel acquisition (zero utilization out of Rs 2,511.79 million allocated) raises concerns about capital deployment efficiency. While the prospectus allows utilization in the next fiscal, investors should monitor progress given the shipping company's core expansion plan remains stalled. The funds are safely deployed in bank fixed deposits with ~7% returns.