Shree Refrigerations IPO
Live Updates, GMP, Subscription Data, and Financial Details
IPO Overview
Listed
Dates
Jul 25 to Jul 29 2025
Price Band
₹125
Current GMP
₹169.85(35.88%)
Subscription
187.55 times
IPO Details
| IPO Date | July 25, 2025 to July 29, 2025 |
| Listing Date | July 31, 2025 |
| Face Value | ₹2 per share |
| Issue Price | ₹125 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 93,86,000 shares (aggregating up to ₹117.33 Cr) |
| Reserved for Market Maker | 4,71,000 shares (aggregating up to ₹5.89 Cr)Mansi Share & Stock Broking Pvt.Ltd. |
| Fresh Issue (Ex Market Maker) | 70,90,000 shares (aggregating up to ₹88.63 Cr) |
| Offer for Sale | 18,25,000 shares of ₹2 (aggregating up to ₹22.81 Cr) |
| Net Offered to Public | 89,15,000 shares (aggregating up to ₹111.44 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 2,80,69,409 shares |
| Share Holding Post Issue | 3,56,30,409 shares |
IPO Date
July 25, 2025 to July 29, 2025
Listing Date
July 31, 2025
Face Value
₹2 per share
Issue Price
₹125 per share
Lot Size
1,000 Shares
Sale Type
Fresh Capital-cum-Offer for Sale
Total Issue Size
93,86,000 shares (aggregating up to ₹117.33 Cr)
Reserved for Market Maker
4,71,000 shares (aggregating up to ₹5.89 Cr)Mansi Share & Stock Broking Pvt.Ltd.
Fresh Issue (Ex Market Maker)
70,90,000 shares (aggregating up to ₹88.63 Cr)
Offer for Sale
18,25,000 shares of ₹2 (aggregating up to ₹22.81 Cr)
Net Offered to Public
89,15,000 shares (aggregating up to ₹111.44 Cr)
Issue Type
Bookbuilding IPO
Listing At
BSE SME
Share Holding Pre Issue
2,80,69,409 shares
Share Holding Post Issue
3,56,30,409 shares
IPO Subscription Details
| Anchor Investors | 1 |
| Market Maker | 1 |
| Qualified Institutions | 167.32 |
| Non-Institutional Buyers*** | 197.01 |
| bNII (bids above ₹10L) | 214.75 |
| sNII (bids below ₹10L) | 158.70 |
| Individual Investors (IND category bidding for 2 Lots) | 195.05 |
| Total ** | 187.55 |
Anchor Investors
1
Market Maker
1
Qualified Institutions
167.32
Non-Institutional Buyers***
197.01
bNII (bids above ₹10L)
214.75
sNII (bids below ₹10L)
158.70
Individual Investors (IND category bidding for 2 Lots)
195.05
Total **
187.55
Day Wise Sub
| Day | QIB | NII* | NII (> ₹10L) | NII (< ₹10L) | Individual Investors | Total |
|---|---|---|---|---|---|---|
| Day 1 Jul 25, 2025 | 0.00 | 1.43 | 1.11 | 2.08 | 3.60 | 2.11 |
| Day 2 Jul 28, 2025 | 2.25 | 11.88 | 10.04 | 16.27 | 34.85 | 20.62 |
| Day 3 Jul 29, 2025 | 167.32 | 197.01 | 214.75 | 158.70 | 195.05 | 187.55 |
DayDay 1
Jul 25, 2025
QIB0.00
NII*1.43
NII (> ₹10L)1.11
NII (< ₹10L)2.08
Individual Investors3.60
Total2.11
DayDay 2
Jul 28, 2025
QIB2.25
NII*11.88
NII (> ₹10L)10.04
NII (< ₹10L)16.27
Individual Investors34.85
Total20.62
DayDay 3
Jul 29, 2025
QIB167.32
NII*197.01
NII (> ₹10L)214.75
NII (< ₹10L)158.70
Individual Investors195.05
Total187.55
Day Wise GMP
| Date | Price | GMP | Estimate List Price |
|---|---|---|---|
| 01-08-2025 | 125.00 | 70(56.00%) | 3200 |
| 31-07-2025 | 125.00 | 70(56.00%) | 3200 |
| 30-07-2025 | 125.00 | 85(68.00%) | 4600 |
| 29-07-2025 | 125.00 | 85(68.00%) | 4600 |
| 28-07-2025 | 125.00 | 90(72.00%) | 8400 |
| 27-07-2025 | 125.00 | 90(72.00%) | 8400 |
| 26-07-2025 | 125.00 | 90(72.00%) | 8400 |
| 25-07-2025 | 125.00 | 90(72.00%) | 8400 |
| 24-07-2025 | 125.00 | 80(64.00%) | 0800 |
| 23-07-2025 | 125.00 | 80(64.00%) | 0800 |
| 22-07-2025 | 125.00 | 75(60.00%) | 7000 |
Date01-08-2025
Price125.00
GMP70(56.00%)
Estimate List Price3200
Date31-07-2025
Price125.00
GMP70(56.00%)
Estimate List Price3200
Date30-07-2025
Price125.00
GMP85(68.00%)
Estimate List Price4600
Date29-07-2025
Price125.00
GMP85(68.00%)
Estimate List Price4600
Date28-07-2025
Price125.00
GMP90(72.00%)
Estimate List Price8400
Date27-07-2025
Price125.00
GMP90(72.00%)
Estimate List Price8400
Date26-07-2025
Price125.00
GMP90(72.00%)
Estimate List Price8400
Date25-07-2025
Price125.00
GMP90(72.00%)
Estimate List Price8400
Date24-07-2025
Price125.00
GMP80(64.00%)
Estimate List Price0800
Date23-07-2025
Price125.00
GMP80(64.00%)
Estimate List Price0800
Date22-07-2025
Price125.00
GMP75(60.00%)
Estimate List Price7000
IPO Important Dates
| IPO Open Date | Fri, Jul 25, 2025 |
| IPO Close Date | Tue, Jul 29, 2025 |
| Tentative Allotment | Wed, Jul 30, 2025 |
| Initiation of Refunds | Thu, Jul 31, 2025 |
| Credit of Shares to Demat | Thu, Jul 31, 2025 |
| Tentative Listing Date | Fri, Aug 1, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 29, 2025 |
IPO Open Date
Fri, Jul 25, 2025
IPO Close Date
Tue, Jul 29, 2025
Tentative Allotment
Wed, Jul 30, 2025
Initiation of Refunds
Thu, Jul 31, 2025
Credit of Shares to Demat
Thu, Jul 31, 2025
Tentative Listing Date
Fri, Aug 1, 2025
Cut-off time for UPI mandate confirmation
5 PM on July 29, 2025
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,000 | ₹2,50,000 |
| Individual investors (Retail) (Max) | 2 | 2,000 | ₹2,50,000 |
| S-HNI (Min) | 3 | 3,000 | ₹3,75,000 |
| S-HNI (Max) | 8 | 8,000 | ₹10,00,000 |
| B-HNI (Min) | 9 | 9,000 | ₹11,25,000 |
ApplicationIndividual investors (Retail) (Min)
Lots2
Shares2,000
Amount₹2,50,000
ApplicationIndividual investors (Retail) (Max)
Lots2
Shares2,000
Amount₹2,50,000
ApplicationS-HNI (Min)
Lots3
Shares3,000
Amount₹3,75,000
ApplicationS-HNI (Max)
Lots8
Shares8,000
Amount₹10,00,000
ApplicationB-HNI (Min)
Lots9
Shares9,000
Amount₹11,25,000
Financial Information
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 185.60 | 124.11 | 94.32 |
| Total Income | 99.10 | 81.19 | 50.90 |
| Profit After Tax | 13.55 | 11.53 | 2.57 |
| EBITDA | 26.94 | 24.38 | 11.90 |
| Net Worth | 114.74 | 60.72 | 45.22 |
| Reserves and Surplus | 109.13 | 55.82 | 21.25 |
| Total Borrowing | 39.73 | 36.80 | 32.07 |
Period EndedPeriod Ended
31 Mar 202531 Mar 2025
31 Mar 202431 Mar 2024
31 Mar 202331 Mar 2023
Period EndedAssets
31 Mar 2025185.60
31 Mar 2024124.11
31 Mar 202394.32
Period EndedTotal Income
31 Mar 202599.10
31 Mar 202481.19
31 Mar 202350.90
Period EndedProfit After Tax
31 Mar 202513.55
31 Mar 202411.53
31 Mar 20232.57
Period EndedEBITDA
31 Mar 202526.94
31 Mar 202424.38
31 Mar 202311.90
Period EndedNet Worth
31 Mar 2025114.74
31 Mar 202460.72
31 Mar 202345.22
Period EndedReserves and Surplus
31 Mar 2025109.13
31 Mar 202455.82
31 Mar 202321.25
Period EndedTotal Borrowing
31 Mar 202539.73
31 Mar 202436.80
31 Mar 202332.07
Peers Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) |
|---|---|---|---|---|---|
| Shree Refrigerations Limited | 5.03 | 5.03 | 40.88 | 15.44 | |
| Johnson Controls-Hitachi Air Conditioning India Limited | 21.60 | 21.60 | 235.73 | 81.33 | 9.60 |
Company NameShree Refrigerations Limited
EPS (Basic)5.03
EPS (Diluted)5.03
NAV (per share) (Rs)40.88
P/E (x)
RoNW (%)15.44
Company NameJohnson Controls-Hitachi Air Conditioning India Limited
EPS (Basic)21.60
EPS (Diluted)21.60
NAV (per share) (Rs)235.73
P/E (x)81.33
RoNW (%)9.60
IPO Reservation
| Market Maker Shares Offered | 4,71,000 (5.02%) |
| QIB Shares Offered | 44,55,000 (47.46%) |
| − Anchor Investor Shares Offered | 26,73,000 (28.48%) |
| − QIB (Ex. Anchor) Shares Offered | 17,82,000 (18.99%) |
| NII (HNI) Shares Offered | 13,38,000 (14.26%) |
| − bNII > ₹10L | 8,92,000 (9.50%) |
| − sNII < ₹10L | 4,46,000 (4.75%) |
| Retail Shares Offered | 31,22,000 (33.26%) |
| Total Shares Offered | 93,86,000 (100.00%) |
Market Maker Shares Offered
4,71,000 (5.02%)
QIB Shares Offered
44,55,000 (47.46%)
− Anchor Investor Shares Offered
26,73,000 (28.48%)
− QIB (Ex. Anchor) Shares Offered
17,82,000 (18.99%)
NII (HNI) Shares Offered
13,38,000 (14.26%)
− bNII > ₹10L
8,92,000 (9.50%)
− sNII < ₹10L
4,46,000 (4.75%)
Retail Shares Offered
31,22,000 (33.26%)
Total Shares Offered
93,86,000 (100.00%)
Information about company
Incorporated in 2006, Shree Refrigerations Limited is engaged in the manufacturing of HVAC systems, including air and water-cooled condensing units, chillers, and spray dampening systems.
The company serves various sectors, such as automotive, marine, print media, chemical, pharmaceutical, and general engineering.
The company offers a range of products, including chillers, test equipment, marine HVAC systems, and printing chillers, along with customized fabrication services to meet engineering industry standards and client needs.
The company's manufacturing facility in Karad, Maharashtra, is equipped with the necessary machinery, testing, and handling equipment to ensure products meet pre-determined quality standards.
The company offers chillers, test equipment, marine HVAC systems, and printing chillers, along with customized fabrication services, collaborating with clients to develop engineered components that meet quality standards.
Services:
Chiller: Installation of HVAC System ,Repairs of Plants and Equipcertifications & Recognition
Fabrication: Order and Design, Material Management, CNC Programming and Production, Painting Process
Other Products and Services: Cabin Leakage Tester, Air Flow Measurement Rig, Psychometric Lab.
As of May 31, 2025, the company had 129 permanent employees and 165 contractual employees.
Competitive Strengths:
Customization of products
Quality standards and ISO certified organisation
Technology and Collaboration
Wide range of products
Strong Leadership and Experienced Management
Objectives of IPO
The Company Shree Refrigerations IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
S.No.
Objects of the Issue
Expected Amount (₹ in crores)
1
Funding the Working Capital requirement
70.00
2
General Corporate Purposes
10.00
3
Offer for sale
22.81
4
Issue Expense
14.51
Disclaimer
All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions.
We are not a SEBI Registered analyst. Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on Information published on this application.
No financial information whatsoever published anywhere, within this application, should be considered as advice to buy or sell securities or invest in IPOs, or as a guide to doing so in any way whatsoever
Please read all Tearms and conditions , and agree to use the App