Shree Tirupati Balajee IPO: The initial public offer of Shree Tirupati Balajee Agro Trading Company Ltd, which opened on September 5, has received nearly eight times subscription so far. The price band of the IPO has been fixed at Rs 78-Rs 83 per share. Till 10.41 am on the second day of bidding on Friday, the Rs 169.65-crore IPO received a 8.90 times subscription garnering bids for 12,72,77,820 shares as against the 1,43,08,000 shares on offer.
The category for non-institutional investors received 8.40 times subscription, while the portion for retail individual investors (RIIs) got subscribed 11.64 times. The QIB subscription got a 4.46 times subscription.
The IPO will be closed on September 9. The share allotment is likely to take place on September 10, while the listing will happen on September 12.
Shree Tirupati Balajee IPO GMP Today
According to market observers, unlisted shares of Shree Tirupati Balajee Agro Trading Company Ltd are trading Rs 35 higher in the grey market than its issue price. The Rs 35 grey market premium or GMP means the grey market is expecting a 42.17 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Shree Tirupati Balajee IPO: More Details
Shree Tirupati Balajee IPO is a book built issue of Rs 169.65 crores. The issue is a combination of fresh issue of 1.48 crore shares aggregating to Rs 122.43 crores and offer for sale of 0.57 crore shares aggregating to Rs 47.23 crores.
Shree Tirupati Balajee Agro Trading Company Limited, which was founded in October 2001, manufactures and sells flexible intermediate bulk containers (FIBCs), i.e., large flexible bags, and other industrial packaging products such as woven sacks, woven fabric, narrow fabric, and tapes in the Indian domestic market and overseas.
Shree Tirupati Balajee IPO opens for subscription on September 5, 2024 and closes on September 9, 2024. The allotment for the Shree Tirupati Balajee IPO is expected to be finalized on Tuesday, September 10, 2024. Shree Tirupati Balajee IPO will list on BSE, NSE with tentative listing date fixed as Thursday, September 12, 2024.
Shree Tirupati Balajee IPO price band is set at ₹78 to ₹83 per share. The minimum lot size for an application is 180 Shares. The minimum amount of investment required by retail investors is ₹14,940. The minimum lot size investment for sNII is 14 lots (2,520 shares), amounting to ₹209,160, and for bNII, it is 67 lots (12,060 shares), amounting to ₹1,000,980.
Pnb Investment Services Ltd and Unistone Capital Pvt Ltd are the book running lead managers of the Shree Tirupati Balajee IPO, while Link Intime India Private Ltd is the registrar for the issue.
Shree Tirupati Balajee Agro Trading Company Ltd’s revenue increased 16 per cent and its profit after tax (PAT) jumped 74 per cent in the financial year 2023-24.
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