VMPL
New Delhi [India], July 25: Shree Refrigerations Limited, India's leading defense-focussed manufacturer of advanced refrigeration and HVAC systems, has announced its upcoming Initial Public Offering (IPO), with the issue set to open on 25th July 2025 and close on 29th July 2025. The Anchor Book will open on 24th July 2025. The equity shares are proposed to be listed on BSE SME.
Incorporated in 2006, Shree Refrigerations Limited has established itself as a strategic partner to the Indian defense sector. The company specializes in designing and delivering mission-critical HVAC and refrigeration systems engineered for naval platforms including submarines, built to withstand extreme maritime conditions. Its robust portfolio also includes Radar Cooling Systems, Data Center Cooling Units, Heat Exchangers, custom-built Electrical Control Panels, and Heavy Fabrication Services catering to large-scale defense manufacturing needs.
The IPO comprises a Fresh Issue of 75,61,000 equity shares and an Offer for Sale (OFS) of 18,25,000 equity shares, aggregating to a total of ₹ 1,17,32,50,000. The price band per equity share is fixed at ₹119 - ₹125 and the minimum application lot size is 1,000 equity shares.
The allocation under the IPO is made in accordance with SEBI regulations, with 44,55,000 (47.46%) shares reserved for Qualified Institutional Buyers (QIBs), 13,39,000 (14.27%) for Non-Institutional Investors (NIIs), and 31,22,000 (33.26%) for Retail Individual Investors (RIIs).
The net proceeds from the Fresh Issue will be used to fund the working capital requirements of the company and for general corporate purposes. These funds are expected to support the company's ongoing expansion and enhance its ability to serve critical defense infrastructure projects with greater efficiency and scale.
Mr. Ravalnath Gopinath Shende, Promoter and Chairman of Shree Refrigerations Limited, stated, "This IPO marks a significant milestone in our journey of engineering excellence. Over the years, we have built a reputation for delivering reliable, high-performance refrigeration and HVAC systems for mission-critical applications. As we enter this new phase, we aim to scale our operations and deepen our commitment to India's defense ecosystem by providing robust, indigenous solutions that uphold the highest standards of efficiency, durability, and national service."
Led by a seasoned leadership team, including Co-founder Mrs. Rajashri Shende, Business Strategist Mrs. Devashree Nampurkar, Defense Veteran and Former Indian Navy officer Mr. Sunil Kaushik, and Capital Allocation Expert Mr. Vivek Karnavat, the company is governed by a Board of Directors comprising distinguished professionals with deep expertise across engineering, finance, and national security.
The Book Running Lead Manager to the issue is Narnolia Financial Services Ltd, and the Registrar to the Issue is MUFG Intime India Private Limited (Link Intime). For more information, please visit: shreeref.com
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