Shree Refrigerations IPO
Open SmeCurrent GMP
₹70 (+56.00%)
Price Band
₹ 119 – 125
Lot Size
1000
Issue Size
₹117.33 Cr
Minimum Investment
₹250000 (2000 Shares)
Listing Date
01 August 2025
Subscription
174.25x
About the Company
Incorporated on April 24, 2006, Shree Refrigerations Limited is a manufacturer of HVAC (Heating, Ventilation, and Air Conditioning) systems and related components. The company caters primarily to domestic markets across a wide range of industries including:
- Automotive
- Marine
- Print Media
- Chemical
- Pharmaceutical
- General Engineering
Product & Service Portfolio:
- Products:
- Chillers (including printing and marine chillers)
- Marine HVAC & R Systems
- Test Equipment (e.g., Cabin Leakage Tester, Air Flow Measurement Rig)
- Services:
- HVAC System Installation
- Plant Operations (e.g., for naval vessels)
- Equipment Repairs
- Customized Fabrication Services (design, CNC production, painting)
Manufacturing Facility:
- Located in Karad, Maharashtra, equipped with advanced machinery and testing tools to meet stringent quality standards.
Key Strengths:
- Customization capabilities
- ISO 9001:2015 certification and strong quality management systems
- Technical collaborations and in-house R&D
- Vendor approvals from the Indian Navy and Ministry of Defence
- Recognized with awards like:
- GS Parkhe Award (Innovation in Entrepreneurship)
- Brig SB Ghorpade Award (MSME in Defence Manufacturing)
- ZED GOLD Certification (MSME Sustainable ZED Scheme)
Defence Sector Approvals:
- Registered by various branches of the Indian Navy for supplying HVAC systems, Motor Starter Panels, and related equipment.
- Active participant in naval HVAC projects, including installation, operation, and maintenance until vessel handover.
Human Resources (as of May 31, 2025):
- 129 permanent employees
- 165 contractual employees
Promoters
- Mr. Ravalnath Gopinath Shende
- Mrs. Rajashri Ravalnath Shende
- Mrs. Devashree Vishwesh Nampurkar
Promoters Holding
Holding Pre Issue
56.60%
Holding Post Issue
44.59%
Objects of the Issue
The Company Shree Refrigerations IPO proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Funding the Working Capital requirement
- General Corporate Purposes
Address / Contact Info
Shree Refrigerations Limited
Plot. No. 131/1+2,
Opp. MSEB Stores,
Virwade Road,
Ogalewadi,Karad,
Maharashtra, 415105
Phone: 02164-272015
Email: Investor@shreeref.com
Website: http://www.shreeref.com/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Friday, 25 July 2025
IPO Close Date
Tuesday, 29 July 2025
Basis of Allotment
Wednesday, 30 July 2025
Initiation of Refunds
Thursday, 31 July 2025
Credit of Shares to Demat
Thursday, 31 July 2025
Listing Date
Friday, 01 August 2025 — NSE & BSE
Important Dates
Open Date
25 July 2025
Close Date
29 July 2025
Basis Of Allotment
30 July 2025
Listing Date
01 August 2025
Financial Performance (₹ in Crores)
| Particular | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 185.6 | 124.11 | 94.32 |
| Revenue | 99.1 | 81.19 | 50.9 |
| Profit After Tax | 13.55 | 11.53 | 2.57 |
| Net Worth | 114.74 | 60.72 | 45.22 |
| Reserve & Surplus | 109.13 | 55.82 | 21.25 |
| Total Borrowings | 39.73 | 36.8 | 32.07 |
EPS Pre
5.25%
EPS Post
0.00%
P/E Pre
23.81
P/E (Post Issue)
0.00x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | Mar-24 |
|---|---|
| ROE % | 15.44 |
| ROCE % | 23.22 |
| Debt / Equity | 0.37 |
| RoNW % | 15.44 |
| PbW | 0 |
| Pat Margin % | 13.72 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 1782000 | 26.55 | 0 |
| Non-Institutional | 1809000 | 26.95 | 0 |
| BNII | 892000 | 13.29 | 0 |
| SNII | 446000 | 6.64 | 0 |
| Retail Investors | 3122000 | 46.5 | 0 |
| Total | 6713000 | 100 | 0 |
Subscription Status ( Tue, 29 Jul 25 01:31 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 1782000 | 298158000 | 167.32x |
| Non-Institutional | 1809000 | 262347000 | 145.02x |
| Retail Investors | 3122000 | 609208000 | 195.13x |
| Total | 6713000 | 1169713000 | 174.25x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
No Peer Comparision Available
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 2,000 | 250,000.00 |
| Retail (Max) | 2 | 2,000 | 250,000.00 |
| S-HNI (Min) | 3 | 3,000 | 375,000.00 |
| S-HNI (Max) | 8 | 8,000 | 1,000,000.00 |
| B-HNI (Min) | 9 | 9,000 | 1,125,000.00 |
Registrar
MUFG Intime India Private Limited ((Link Intime)
91-22-4918 6270
ipo.helpdesk@in.mpms.mufg.com
https://in.mpms.mufg.com/home.html
Book Running Lead Managers
- Narnolia Financial Services
RHP Document
DRHP Document
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Shree Refrigerations IPO is a Book-building IPO worth ₹117.33 crores. The price band is ₹119 to 125 per share. The IPO opens on Fri, Jul 25, 2025 and closes on Tue, Jul 29, 2025. It will be listed on BSE and NSE. MUFG Intime India Private Limited ((Link Intime) is the registrar.
The Shree Refrigerations IPO opens on Fri, Jul 25, 2025 and closes on Tue, Jul 29, 2025
Shree Refrigerations IPO Price Band is ₹119 to 125.
Shree Refrigerations IPO lot size is 1000, and the minimum amount required for application is ₹250000.
The minimum investment for Shree Refrigerations IPO is approximately ₹250000 based on the upper price band.
To apply for the Shree Refrigerations IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Tue, Jul 29, 2025. After submission, funds are blocked until the basis of allotment of Shree Refrigerations IPO is finalised.
Shree Refrigerations IPO issue size is ₹117.33 crores.
Shree Refrigerations IPO allotment date is Sat, Jun 27, 2026.
The registrar for Shree Refrigerations IPO is MUFG Intime India Private Limited ((Link Intime). Investors can go to MUFG Intime India Private Limited ((Link Intime) website for IPO allotment status, refund processing, and other queries related to Shree Refrigerations IPO through their official website or helpline.
The Shree Refrigerations IPO GMP (Grey Market Premium) is ₹70 as of Fri, Aug 1, 2025. Based on the upper price band of ₹125 per share, the estimated Shree Refrigerations IPO listing price is ₹195, indicating a potential listing gain of approximately 31% over the issue price.