Applications for Shreedhar Motors Limited’s initial public offering (IPO) have been exhibiting strong demand, positioning the company for potential oversubscription. Director Neeraj Maharaj shared insights with The Fiji Times, indicating a notable surge in interest as the IPO closing date approaches next month.
“We’ve received numerous completed applications, and there is a robust interest from both private individuals and organizations currently engaging with us,” Maharaj stated during an interview. He emphasized the company’s commitment to broadening ownership among ordinary members of the community, ensuring that the shares are accessible to “mums and dads” rather than solely large corporate entities.
Maharaj clarified that the choice to collaborate with specific institutions was driven by a desire to prevent ownership from being concentrated in few hands, such as Unit Trust or Fijian Holdings. He expressed the intention to foster greater community involvement, particularly among the iTaukei people.
The decision to list the company stems from a vision for future growth, reflecting on the legacy of Shreedhar Motors, which has been established for 60 years. Maharaj highlighted that, as the third generation involved in the business, the family aims to advance their service offerings and community benefits.
Plans for expansion include acquiring land on Nadi Back Road and in Labasa, which will facilitate the establishment of new showrooms, thereby enhancing service capabilities for both northern and western sectors. Additionally, the company is exploring new vehicle imports to diversify its offerings.
Currently, Shreedhar Motors Limited is in the process of inviting public investment by offering nine million shares at $1 each, with a minimum purchase threshold set at $1,000. The IPO will be available from December 2025, closing on February 27, 2026.
This initiative not only represents a significant growth opportunity for Shreedhar Motors but also aims to stimulate local economic involvement, providing a hopeful avenue for community participation in its future success.
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