Statement of Deviation/Variation in utilization of funds raised through Initial Public Offer for the quarter ended on March 31, 2026
SHREEJISPG · price
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Shreeji Shipping Global Limited, a shipping company listed on NSE and BSE, has filed its quarterly statement on IPO fund utilization for the period ending March 31, 2026. The company raised Rs. 4107.1 million through its Main Board IPO in August 2025. The filing states there is NO deviation or variation in the use of IPO funds. The major allocation was Rs. 2511.79 million for acquisition of Dry Bulk Carriers (Supramax category), which remains fully unutilized as of March 31, 2026. Other allocations including loan repayment (Rs. 230 million), general corporate purposes (Rs. 957.01 million), and issue expenses (Rs. 408.30 million) have been largely utilized. Issue expenses were marginally lower than estimated, with the Rs. 3.37 million saving added to General Corporate Purposes. The statement was reviewed by the Audit Committee on May 29, 2026.
No immediate concern for shareholders as the company has formally declared no deviation. However, the entire allocation for the core business objective (acquisition of dry bulk carriers worth Rs. 2511.79 million) remains unused 7 months post-IPO, which investors should monitor for future deployment.