New Delhi, August 1 (HS): Shree Refrigerations, a company engaged in manufacturing HVAC systems, made an impressive debut in the stock market today, delivering significant gains to its IPO investors. Issued at ₹125 per share under the IPO, the company’s stock was listed at ₹169.85 on the BSE SME platform, marking a 35.88% premium. Following the listing, buying activity surged, and by 11 AM, the stock had climbed to ₹175, resulting in nearly 40% returns for IPO investors in early trade.
The ₹117.33 crore IPO of Shree Refrigerations was open for subscription from July 25 to 29 and received overwhelming response from investors, leading to an overall subscription of 187.55 times. The reserved portion for Qualified Institutional Buyers (QIBs) was subscribed 167.32 times, while the Non-Institutional Investors (NII) segment saw 197.01 times subscription. The retail portion was subscribed 195.05 times.
Under the IPO, the company issued fresh shares worth ₹94.52 crore. Additionally, 18.25 lakh equity shares with a face value of ₹2 were sold via the Offer for Sale (OFS) route. The proceeds from the IPO will be used to meet working capital requirements and general corporate purposes.
As per the company’s prospectus, Shree Refrigerations’ financial performance has shown consistent improvement. In FY 2022–23, the company reported a net profit of ₹2.57 crore, which increased to ₹11.53 crore in FY 2023–24 and further to ₹13.55 crore in FY 2024–25. During this period, the company’s revenue surged at a compound annual growth rate (CAGR) of over 39%, reaching ₹99.01 crore.
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