Date: November 02, 2026
Board Meeting Outcomes
- Promoters Ashokkumar Haridas Lal and Jitendra Haridas Lal propose to sell equity shares through an Offer for Sale (OFS) mechanism
- The OFS is being undertaken to achieve minimum public shareholding (MPS) requirement under Rule 19(2)(b) of SCRR and Regulation 38 of SEBI LODR
Offer for Sale Details
Sellers: Ashokkumar Haridas Lal and Jitendra Haridas Lal (Promoters)
Offer Structure:
- Base Offer Size: 30,00,000 Equity Shares (1.84% of paid-up equity capital)
- Oversubscription Option: 13,50,000 Equity Shares (0.83% of paid-up equity capital)
- Total Maximum Offer: 43,50,000 Equity Shares (2.67% of paid-up equity capital)
Pricing:
- Floor Price: ₹835 per Equity Share
- Retail Discount: Nil
Trading Schedule:
- T Day (November 03, 2026): Non-Retail Investors only (9:15 AM to 3:30 PM IST)
- T+1 Day (November 04, 2026): Retail Investors and non-Retail Investors carrying forward unallotted bids (9:15 AM to 3:30 PM IST)
Stock Exchange: National Stock Exchange of India Limited (NSE)
Clearing Corporation: NSE Clearing Limited
Broker: Spread X Securities Private Limited (NSE Code: 90309, BSE Code: 6823)
Authorized Personnel: Jitendra Haridas Lal (Contact: 8103797152, Email: info@shreejishipping.in)
Allocation Methodology
Non-Retail Category (November 03, 2026):
- Minimum 25% reservation for Mutual Funds and Insurance Companies
- Allocation at or above Floor Price on price priority basis
- Non-Retail Investors can carry forward unallotted bids to T+1 day
- Single bidder allocation cap: 25% of Offer Shares (except for Mutual Funds/Insurance Companies)
Retail Category (November 04, 2026):
- Minimum 10% reservation for Retail Investors (defined as bids ≤ ₹200,000)
- Retail Investors can bid at Cut-Off Price or any price above Floor Price
- Cut-Off Price determined as lowest price in Non-Retail Category
Settlement: Trade-for-trade basis with T+1/T+2 settlement depending on investor category
Conditions and Provisions
Withdrawal Rights: Seller can withdraw offer before opening on T Day, triggering 10-day cooling period
Cancellation Conditions:
- Insufficient demand at or above Floor Price
- Default in settlement obligations
- Cancellation request accepted until 5:00 PM on T Day
Participant Requirements:
- Non-institutional investors: 100% upfront margin
- Institutional investors: Option for no upfront payment with custodian confirmation
- Retail investors: 100% margin at bid value or Floor Price for Cut-Off bids
- Individual investors cannot exceed ₹200,000 across categories
Regulatory Framework
The OFS is conducted under:
- SEBI Master Circular reference SEBI/HO/MRDPoD2/CIR/P/2024/00181 dated December 30, 2024
- NSE OFS Circular no. 145/2026 dated October 13, 2026
- SEBI MPS Circular no. SEBI/HO/CFD/PoD2/P/CIR/2023/18 dated February 3, 2023
- SEBI LODR Master Circular reference HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026
Important Restrictions
- Not available to US persons except Qualified Institutional Buyers (QIBs)
- No registration under US Securities Act of 1933
- Restricted transferability with specific conditions for US and international investors
- No prospectus or offer document registered with any regulatory authority
Company Secretary
Archanaba Krunalsinh Gohil, Company Secretary and Compliance Officer