Shree Refrigerations IPO
GMP, Subscription, Price, Dates & Financial Details
Engineering - Industrial Equipments
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:AutomotiveMarinePrint…
Open Date
Fri, 25 Jul 2025
Close Date
Tue, 29 Jul 2025
Price Band
₹ 119 – 125
Lot Size
1000
Issue Size
₹ 117.33 Cr
Minimum Investment
₹ 250,000 (2000 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Shree Refrigerations IPO has successfully completed its IPO process and is now listed on BSE SME Platform. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹117.33 Crore, comprising a fresh issue of 70.91 Lakh equity shares aggregating to ₹88.64 Crore and an offer for sale (OFS) of 18.25 Lakh equity shares aggregating to ₹22.81 Crore by the existing shareholders.
The Shree Refrigerations IPO remained open for subscription from July 25, 2025, to July 29, 2025. The basis of allotment was finalized on July 30, 2025, and the company's shares were listed on BSE SME Platform on August 01, 2025.
The company had fixed the price band at ₹119 to ₹125 per share, with a lot size of 1000 shares. Retail investors were required to make a minimum investment of ₹250,000 (based on the upper price band) to apply for one lot.
MUFG Intime India Private Limited served as the registrar to the issue. Narnolia Financial Services acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Shree Refrigerations Limited is now a publicly listed company on BSE SME Platform. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Shree Refrigerations IPO Timeline (Tentative)
- IPO Open Date
- Fri, 25 Jul 25
- IPO Close Date
- Tue, 29 Jul 25
- Basis of Allotment
- Wed, 30 Jul 25
- Initiation of Refunds
- Thu, 31 Jul 25
- Credit of Shares to Demat
- Thu, 31 Jul 25
- Listing Date
- Fri, 01 Aug 25 — NSE & BSE
Open Date
25 July 2025
Close Date
29 July 2025
Basis Of Allotment
30 July 2025
Listing Date
01 August 2025
IPO Subscription
Check Live Subscription →The Shree Refrigerations IPO has received bids for 1,16,97,13,000 shares against 67,13,000 shares offered, resulting in an overall subscription of 174.25x. the NII category is subscribed 145.02x, Retail Investors 195.13x, and QIBs 167.32x.
QIB
167.32x
NII
145.02x
RII
195.13x
Total
174.25x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 31,22,000 shares, representing 46.5% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 17,82,000 shares (26.55%), while Non-Institutional Investors (NIIs) receive 18,09,000 shares (26.95%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Qualified Institutions | 1,782,000 | 26.55% |
| Non-Institutional | 1,809,000 | 26.95% |
| BNII | 892,000 | 13.29% |
| SNII | 446,000 | 6.64% |
| Retail Investors | 3,122,000 | 46.5% |
| Total | 6,713,000 | 100% |
Financials Details(₹ 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 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Shree Refrigerations Limited KPI Information
| Particular | Mar-24 |
|---|---|
| ROE % | 15.44 |
| ROCE % | 23.22 |
| Debt / Equity | 0.37 |
| RoNW % | 15.44 |
| Pat Margin % | 13.72 |
Peers Comparison
No Peer Comparision Available
About Shree Refrigerations Limited
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
Shree Refrigerations IPO 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%
Shree Refrigerations IPO Objective
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
Shree Refrigerations Limited Address / Contact Details
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
Shree Refrigerations IPO Lot Size
The Shree Refrigerations IPO has a lot size of 1,000 shares. Retail investors require a minimum investment of ₹2,50,000 by applying for 2 lot (2,000 shares). The maximum application allowed for the retail category is 2 lots (2,000 shares), requiring an investment of ₹2,50,000.
| 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 |
Issue Reservation
- QIB — 26.55%
- NII — 26.95%
- RII — 46.5%
Book Running Lead Managers
- Narnolia Financial Services
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Shree Refrigerations IPO?
Shree Refrigerations IPO is a Book-building IPO with a total issue size of ₹117.33 crore. The Shree Refrigerations IPO price band is ₹119 to 125 per share. The Shree Refrigerations IPO subscription opens on Fri, Jul 25, 2025, and closes on Tue, Jul 29, 2025. The Shree Refrigerations IPO will be listed on the BSE. MUFG Intime India Private Limited is the registrar for the Shree Refrigerations IPO.
When will the Shree Refrigerations IPO open for subscription?
The Shree Refrigerations IPO opens on Fri, Jul 25, 2025 and closes on Tue, Jul 29, 2025
What is Shree Refrigerations IPO Price Band?
Shree Refrigerations IPO Price Band is ₹119 to 125 per share.
What is Shree Refrigerations IPO Lot Size?
Shree Refrigerations IPO lot size is 1000 shares, Retail investors need a minimum investment of ₹250000 based on the upper price band
What is the minimum investment for Shree Refrigerations IPO?
The minimum investment for Shree Refrigerations IPO is ₹250000, based on one lot of 1000 shares at the upper price band of ₹125 per share.
How to apply for Shree Refrigerations IPO?
Investors can apply for the Shree Refrigerations IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Tue, Jul 29, 2025. The application amount remains blocked until the Shree Refrigerations IPO allotment is finalized.
What is Shree Refrigerations IPO Issue Size?
Shree Refrigerations IPO issue size is ₹117.33 crores.
What is the Shree Refrigerations IPO Allotment Date?
Shree Refrigerations IPO allotment date is Wed, Jul 30, 2025.
Who is the Shree Refrigerations IPO Registrar?
The registrar for Shree Refrigerations IPO is MUFG Intime India Private Limited. Investors can go to MUFG Intime India Private Limited website to check Shree Refrigerations IPO allotment status, refund processing, and other IPO-related information.
What is the Shree Refrigerations IPO GMP?
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 56.00% over the issue price.
Who is the Shree Refrigerations IPO Lead Manager?
The book-running lead managers (BRLMs) for the Shree Refrigerations IPO are Narnolia Financial Services. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Shree Refrigerations IPO Red Herring Prospectus (RHP).