Applications for Shreedhar Motors Limited’s initial public offering (IPO) have been coming in very well and is on a trajectory for oversubscription.
Company director Neeraj Maharaj told The Fiji Times that they had seen a really good surge in uptake as it nears the IPO closing period next month.
“We’ve got obviously quite a few completed applications but we’ve got a very strong interest both with private individuals and private organisations that are in the play at the moment,” Mr Maharaj said in an interview.
He said one of the things they wanted to do, which was part of the institutions they went to, was to make sure the ownership of the company was expanded to mums and dads and the people.
“So part of the reasons we’ve targeted and worked with specifically those institutions was that particular reason – we didn’t really want it to be owned by just a large single entity organisations like Unit Trust, like Fijian Holdings, etcetera, which represents a greater part of the community as well as iTaukei and so on.”
Mr Maharaj said their decision to list was motivated by their vision of growth for the company.
“The company has now reached a level of maturity to be known for 60 years. Started by my grandfather and we’re now at the third generation, I’m the third generation working in the business and it’s at a stage that we wanted to look at the next future level of our growth and look at participation of the profits and participation of the company by our local community.”
He said they had plans lined up for its future growth, including acquiring a piece of land in Nadi Back Road and in Labasa, which were being looked at to expand and establish showrooms to allow them to service both the northern sector and the western side better.
“And we’re looking at other ranges of vehicles as well that we looking to import and expand in the business; so this is really, I suppose, a time to consolidate and look at what the next future step of our group looks like.”
Shreedhar Motors Limited is currently opening its shares to the public to buy with nine million shares on offer at $1 each, with a minimum purchase of $1000.
The IPO offer period is between December 2025 and closes on February 27, 2026.
