Shreeji Shipping, Patel Retail IPOs to open on August 19
Heads up for anyone tracking new investment opportunities: Shreeji Shipping and Patel Retail are both opening their IPOs on August 19, with anchor investors getting a shot on August 18.
The window closes quickly on August 21, so it's a tight timeline if you're interested.
Shreeji is offering 1.63 crore shares, while Patel Retail's IPO includes both fresh shares and some being sold by promoters.
How the 2 companies plan to use their IPO proceeds
Shreeji Shipping plans to use most of its IPO funds to buy new dry bulk ships and pay down debt—basically expanding their fleet and cleaning up their balance sheet.
Patel Retail is looking to raise ₹250-300 crore, with the cash mainly going toward boosting working capital and reducing debt.
Both companies are expected to start trading on August 26, so keep an eye out if you want in early.