All details for Shree Refrigerations IPO: Dates, price, financials, objectives, KPIs, registrar, and business overview.
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Shree Refrigerations IPO: At a Glance
IPO Timeline
| IPO Activity | Date |
|---|---|
| IPO Open Date | July 25, 2025 |
| IPO Close Date | July 29, 2025 |
| Basis of Allotment (Tentative) | July 30, 2025 |
| Refunds Initiation (Tentative) | July 31, 2025 |
| Credit of Shares to Demat (Tentative) | July 31, 2025 |
| IPO Listing Date (Tentative) | August 1, 2025 |
IPO Price & Lot Size
| Issue Price | ₹125 per share |
|---|---|
| Market Lot | 1,000 Shares |
| Retail Min | 2 lots (2,000 shares) – ₹2,50,000 |
| Retail Max | 2 lots (2,000 shares) – ₹2,50,000 |
| S-HNI Min | 3 lots (3,000 shares) – ₹3,75,000 |
| S-HNI Max | 8 lots (8,000 shares) – ₹10,00,000 |
| B-HNI Min | 9 lots (9,000 shares) – ₹11,25,000 |
Company Financials (₹ Crore)
Bar Chart: Revenue, PAT & Net Worth
Line Chart: Revenue, PAT & Net Worth
| Period Ended | Assets | Revenue | Profit After Tax | EBITDA | Net Worth | Reserves & Surplus | Total Borrowing |
|---|---|---|---|---|---|---|---|
| 31 Mar 2025 | 185.60 | 99.10 | 13.55 | 26.94 | 114.74 | 109.13 | 39.73 |
| 31 Mar 2024 | 124.11 | 81.19 | 11.53 | 24.38 | 60.72 | 55.82 | 36.80 |
| 31 Mar 2023 | 94.32 | 50.90 | 2.57 | 11.90 | 45.22 | 21.25 | 32.07 |
Key Performance Indicators (KPI)
| KPI | Values |
|---|---|
| ROE | 15.44% |
| ROCE | 23.22% |
| Debt/Equity | 0.37 |
| RoNW | 15.44% |
| PAT Margin | 13.72% |
| EBITDA Margin | 27.29% |
| Price to Book Value | 4.98 |
| EPS (Pre IPO) | 5.25 |
| P/E (Pre IPO) | 23.81 |
Objects of the Issue
| S.No. | Objects of the Issue | Expected Amount (₹ Cr.) |
|---|---|---|
| 1 | Funding the Working Capital requirement | 70.00 |
| 2 | General Corporate Purposes | – |
About Shree Refrigerations Ltd.
Incorporated: 2006
Business: Manufacturer of HVAC systems, chillers, condensing units, spray dampening systems, and customized fabrication for engineering.
Sectors Served: Automotive, marine, print media, chemical, pharma, general engineering.
Products & Services:
- Chillers, test equipment, marine HVAC, printing chillers
- Custom fabrication: design, CNC, painting, etc.
- Cabin leakage tester, airflow rigs, psychometric labs
Employees: 129 permanent, 165 contractual (as of May 31, 2025)
Promoters: Ravalnath Gopinath Shende, Rajashri Ravalnath Shende, Devashree Vishwesh Nampurkar
- Customization of products
- ISO quality standards
- Technology & collaboration
- Wide product range & strong leadership
Contact Details
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/
Frequently Asked Questions (FAQ)
The issue price for Shree Refrigerations IPO is ₹125 per share.
The IPO is scheduled to open for subscription on July 25, 2025, and close on July 29, 2025.
The minimum investment for retail investors is ₹2,50,000 (2,000 shares or 2 lots at ₹125 per share). The minimum lot size is 1,000 shares. For small HNI (sNII), the minimum investment is ₹3,75,000 (3,000 shares or 3 lots). For big HNI (bNII), the minimum investment is ₹11,25,000 (9,000 shares or 9 lots).
You can apply for the IPO through:
- Your bank's net banking platform (ASBA facility)
- Brokerage accounts, using UPI or offline forms
- Registered investment platforms
- Designated branches of syndicate banks
Retail investors can bid at the fixed price. Detailed instructions are available in the Red Herring Prospectus (RHP).
Shree Refrigerations Ltd. manufactures HVAC systems, chillers, condensing units, spray dampening systems, and customized fabrication for engineering applications. Its revenue sources include:
- Sale of HVAC systems and chillers for automotive, marine, print media, chemical, pharmaceutical, and general engineering sectors
- Custom fabrication services, including design, CNC machining, and painting
- Specialized equipment like cabin leakage testers, airflow rigs, and psychometric labs
The company operates a manufacturing facility in Karad, Maharashtra, serving diverse industries with a focus on customization and ISO quality standards.
Key risks to consider include:
- Market risk: Dependence on demand from automotive, marine, and industrial sectors
- Operational risk: Reliance on skilled labour and timely supply of raw materials
- Debt risk: Borrowings of ₹39.73 Cr with a debt-to-equity ratio of 0.37 as of FY25
- Competition: Intense competition from domestic and international HVAC manufacturers
- Regulatory risk: Compliance with environmental and industrial safety regulations
Investors should review the risk factors in the RHP before investing.
The net proceeds from the fresh issue (₹117.33 Cr, including Offer for Sale) will be used for:
- Funding working capital requirements: ₹70.00 Cr
- General corporate purposes: Remaining amount
Proceeds from the Offer for Sale (18.25 lakh shares) will go to the selling shareholders.
Shree Refrigerations has shown steady growth:
- Revenue growth: ₹50.90 Cr (FY23) to ₹81.19 Cr (FY24) to ₹99.10 Cr (FY25), a 22% increase from FY24 to FY25
- Profit after tax: ₹2.57 Cr (FY23) to ₹11.53 Cr (FY24) to ₹13.55 Cr (FY25), a 17% increase from FY24 to FY25
- Net worth: ₹45.22 Cr (FY23) to ₹60.72 Cr (FY24) to ₹114.74 Cr (FY25)
- Employee strength: 129 permanent and 165 contractual employees as of May 31, 2025
- Facility: Advanced manufacturing unit in Karad, Maharashtra, with ISO-compliant processes
The company’s focus on customization and diverse sector applications drives its growth.
As of March 31, 2025:
- Total borrowings: ₹39.73 Cr
- Debt-to-equity ratio: 0.37
- Revenue: ₹99.10 Cr, supporting debt servicing capacity
The company’s low debt-to-equity ratio indicates a stable financial position.
The book running lead manager for the Shree Refrigerations IPO is not specified in the provided details. The registrar is MUFG Intime India Private Limited (Link Intime). The market maker is Mansi Share & Stock Broking Pvt Ltd.
Note: The information provided here is based on the RHP and available data as of July 26, 2025. For the most updated and accurate details, including subscription status and grey market premium, please refer to the Red Herring Prospectus (RHP) or consult with your financial advisor.
