The allotment status for the Shree Tirupati Balajee Agro Trading Company Ltd. IPO is set to be finalized today, September 10, 2024. This IPO has generated significant interest among investors, with an impressive subscription rate of 124.74 times, indicating strong demand across various investor categories. The shares are expected to list on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on September 12, 2024.
Main Points
Overview of the Shree Tirupati Balajee IPO
The Shree Tirupati Balajee IPO, which opened for subscription on September 5 and closed on September 9, 2024, comprises a fresh issue of up to 1.48 crore equity shares and an offer for sale of up to 56.9 lakh equity shares. The price band for the IPO was set between ₹78 and ₹83 per share, with a minimum bid lot of 180 shares, requiring an investment of at least ₹14,940 for retail investors.
Subscription Details
The IPO attracted a diverse range of investors, with the non-institutional investor segment being particularly enthusiastic, subscribing 210.12 times. Qualified institutional buyers (QIBs) also showed strong interest, with a subscription rate of 150.87 times. Retail individual investors (RIIs) contributed a subscription rate of 73.22 times, reflecting a robust demand across the board.
The total issue size was approximately ₹169.7 crore, with ₹122.4 crore from the fresh issue and ₹47.2 crore from the offer for sale. The proceeds from the fresh issue will be utilized for debt repayment, investments in subsidiaries, and general corporate purposes.
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How to Check Allotment Status
Investors who participated in the Shree Tirupati Balajee IPO can check their allotment status through the following methods:
On the BSE Website
- Visit the BSE IPO allotment page.
- Select ‘Equity’ as the issue type.
- Choose ‘Shree Tirupati Balajee Agro Trading Company Limited’ from the dropdown menu.
- Enter your application number or PAN.
- Complete the CAPTCHA verification.
- Click the ‘Search’ button to view your allotment status.
Via Link Intime India
- Go to the Link Intime India website.
- Select ‘Shree Tirupati Balajee Agro Trading Company’ from the dropdown menu.
- Choose one of the options: PAN, Application number, DP/Client ID, or Account number/IFSC.
- Enter the relevant details and click ‘Search’ to view your allotment details.
Investors will receive notifications regarding their allotment status via email and SMS from their respective banks or brokers.
Business Profile of Shree Tirupati Balajee
Shree Tirupati Balajee Agro Trading Company is a prominent player in the manufacturing and selling of Flexible Intermediate Bulk Containers (FIBCs) and other industrial packaging products. The company caters to various industries, including chemicals, food, and agriculture, providing customized bulk packaging solutions. Their product range includes large flexible bags, woven sacks, and narrow fabric tapes, serving both domestic and international markets.
In the fiscal year 2024, Shree Tirupati Balajee reported a revenue increase of 13%, reaching ₹540 crore, with a profit after tax growth of 74%. This strong financial performance underscores the company’s market leadership and commitment to delivering quality products.
Upcoming Listing and Expectations
The shares of Shree Tirupati Balajee are set to be listed on the BSE and NSE on September 12, 2024. The shares are currently trading in the unlisted market with a Grey Market Premium (GMP) of ₹60, indicating a potential listing price that is 17% higher than the upper end of the IPO price band. This positive sentiment among investors suggests that the company is well-positioned for growth, and the upcoming listing is highly anticipated.
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
