Shreedhar Motors Limited (SML) has announced the launch of its Initial Public Offer (IPO), making nine million shares available to the public at a price of $1 each, with the goal of raising $9 million. The company’s planned listing on the South Pacific Stock Exchange (SPX) is set to occur, subject to regulatory approval, on March 17, 2026.
With a remarkable 42 percent revenue growth in FY2024 and a net profit after tax (NPAT) of $6.6 million, SML is positioned as a leader in the automotive sector. The company has a strong history of returning value to shareholders, having paid dividends for nine consecutive years with payout ratios exceeding 80 percent of NPAT. This reflects a commitment to sustainable long-term growth, operating under a conservative gearing approach and maintaining a robust balance sheet.
Chairman of the SML board, Satya Prakash Maharaj, emphasized the significance of the IPO in opening new investment and growth opportunities. He expressed confidence in SML’s profitability and stability, inviting investors to partner with the company on this exciting journey. The successful IPO would mark SML as the 21st company and the second motor vehicle dealer to list on the SPX, enhancing options for investors within Fiji’s growing stock market.
Sheraj Obeyesekere, CEO of SPX, welcomed the IPO, highlighting how such public offerings broaden ownership under a regulated framework and offer a transparent route for investor participation. The increase in private companies exploring public listings is indicative of a renewed confidence in the public market, with a positive trend expected to continue into the coming years.
The previous IPO on SPX by Sun Insurance Ltd in August 2024 demonstrated strong investor interest, being oversubscribed, reflecting a promising environment for SML’s upcoming offer.
Investors interested in buying shares can purchase a minimum of 1,000 shares at $1 each and are encouraged to consult one of the three stockbroking firms for assistance. The offer will remain open until February 27, 2026, providing ample time for potential investors to take part in this opportunity.
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