I was able to create a Postgresql database and then I executed,
createlang plpgsql geospecies psql -d geospecies -f postgis.sql psql -d geospecies -f spatial_ref_sys.sql
So now can I directly import the shapefiles? Would this be the right command,
ogr2ogr -f PostgreSQL PG:"host=server_ip user=username dbname=dbname password=password" yourshapefile.shp;
I am not sure how to structure the database, would it not need a table? I will eventually need to add a bunch load of shapefiles and so is there a command to do that?