Shreedhar Motors has launched a $9 million Initial Public Offering (IPO), generating excitement in the IPO market at the South Pacific Stock Exchange (SPX). The IPO comes shortly after the listing of the RB Patel Secured Wholesale Corporate Bond on the exchange’s Over-The-Counter (OTC) platform, providing Fijians with another chance to invest in a profitable private company with a legacy of 60 years.
SPX officials have expressed their enthusiasm for Shreedhar Motors’ decision to go public, viewing it as a positive trend for both the company and investor community. “Shreedhar Motors has launched an IPO to raise $9 million in funds through members of the public,” said Sheraj Obeyesekere, CEO of SPX. He emphasized that this development not only benefits the stock market but also offers the investing public a new opportunity to engage with a well-established company.
With the IPO now open, potential investors have ample time to review the prospectus and consult with stockbroker firms before making their investment decisions. The IPO will remain active until February 27, 2026, which is expected to lead to a planned listing in March.
Obeyesekere noted that the recent surge in IPO activity signals a growing interest from companies wanting to allow public participation in their growth. The last IPO at SPX, by Sun Insurance, was oversubscribed, resulting in an early closure and a listing in August 2024. Additionally, RB Patel’s corporate bond offer in 2025 marked a significant step in corporate debt listings on SPX.
Shreedhar Motors, founded in 1965 by Shree Dhar Maharaj, has evolved from distributing Leyland buses and trucks to becoming the authorized distributor for Ford and Subaru in Fiji. Interested investors can purchase a minimum of 1,000 shares at $1 each through any of the three stockbroking firms.
This positive momentum in the IPO market reflects a robust environment for investment and company growth within the South Pacific region, indicating a promising future for both investors and businesses alike.
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