The initial public offer (IPO) of Shree Refrigerations received bids for 1,32,10,000 shares as against 67,13,000 shares on offer, as per BSE data as of 17:00 hours on Friday (25 July 2025). The issue was subscribed 1.97 times.
The issue opened for bidding on Friday (25 July 2025) and it will close on Tuesday (29 July 2025). The price band of the IPO is fixed between Rs 119 to Rs 125 per share. The minimum order quantity is 1000 equity shares. The equity shares will list on BSE’s SME platform.
The IPO comprised 93,86,000 equity shares, including a fresh issue of 75,61,000 equity shares and offer for sale (OFS) of 18,25,000 equity shares. The promoter and promoter group shareholding will dilute to 44.59% from 56.60% pre-offer.
About 4,70,000 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 89,16,000 equity shares. The issue and the net issue will constitute 26.34 % and 25.02%, respectively of the post issue paid up equity share capital of the company.
The company intends to utilize the net proceeds for funding the working capital requirement and general corporate purposes.
Ahead of the Shree Refrigerations on Thursday, 24 July 2025, raised Rs 33.41 crore from anchor investors. The board has allotted 26.73 lakh shares at Rs 125 per share to 11 anchor investors.
Shree Refrigerations is engaged in the business of manufacturing chillers, refrigeration and air conditioning appliances, and other components of the Heating, Ventilation, and Air Conditioning (HVAC) industry. The company offers a range of advanced systems and equipment primarily to the domestic market. Its product portfolio serves multiple industries, including automotive, marine, print media, chemical, pharmaceutical, and general engineering sectors. The company is also actively involved in the manufacturing of marine chillers and holds approved supplier registrations from various professional directorates of the Indian Navy, including the Directorate of Electrical Engineering and the Directorate of Quality Assurance – Warship Projects. As of 31 May 2025, the company had 129 permanent employees and 165 contractual employees.
The company recorded revenue from operations of Rs 98.73 crore and net profit of Rs 13.55 crore for the period ended 31 March 2025.