Shree Tirupati Balajee IPO Allotment: A Step-by-Step Guide to Checking Your Allotment Status Online, Latest GMP and Listing Date Predictions
The allotment status of Shree Tirupati Balajee Agro Trading Company Limited’s IPO is set to be finalized today, September 10, 2024. Investors who have placed bids can expect to receive updates about the debit of funds or revocations of their IPO mandates by September 11, 2024. The company, a prominent player in the packaging solutions industry, saw its IPO receive an overwhelming response from investors, especially non-institutional bidders.
Main Points
IPO Allotment Details and Key Information
The IPO of Shree Tirupati Balajee Agro Trading Company, open for bidding between September 5 and September 9, 2024, offered shares at a fixed price band of ₹78-₹83 per share. With a lot size of 180 shares, the company aimed to raise ₹169.65 crore through this issue, which included a fresh share sale of ₹122.43 crore and an Offer for Sale (OFS) of up to 46.90 lakh shares.
The offering was heavily oversubscribed, with the total subscription reaching 124.75 times. Non-institutional investors (NIIs) booked 210.12 times the shares allocated to them, while qualified institutional buyers (QIBs) subscribed 150.87 times their quota. Retail investors also showed strong interest, with their reserved portion oversubscribed by 73.22 times.
Grey Market Premium (GMP) Update
The grey market premium (GMP) for Shree Tirupati Balajee Agro Trading Company IPO has remained steady despite volatile market conditions. The latest reports suggest the GMP stands between ₹38 and ₹40 per share, indicating a potential listing gain of 45-48%. This premium had been hovering around ₹35 at the time of the IPO’s opening.
Company Profile and Market Position
Incorporated in October 2001, Shree Tirupati Balajee Agro Trading Company is a key manufacturer and seller of flexible intermediate bulk containers (FIBCs), which include large flexible bags and various other industrial packaging products. The company’s product portfolio also includes woven sacks, woven fabric, narrow fabric, and tapes. It caters to both the domestic and international markets, making it a well-diversified packaging solutions provider.
Positive Market Sentiment
Brokerage firms have largely shown confidence in the company, recommending a subscription to the IPO for long-term gains. Analysts cite the company’s solid market share, diverse product range, efficient production capabilities, and increasing demand for its packaging solutions as reasons to invest. However, there are some concerns about the company’s financial stability, its regional concentration, the use of plastic in its products, and negative cash flows.
How to Check Shree Tirupati Balajee Agro Trading Company IPO Allotment Status
Investors eagerly awaiting the IPO allotment can check their status through two official platforms: the Bombay Stock Exchange (BSE) website and the Link Intime India portal, the official registrar for the issue.
Checking Allotment Status via BSE:
- Visit the BSE website at BSE India.
- Choose ‘Equity’ under the issue type.
- Select ‘Shree Tirupati Balajee Agro Trading Company Limited’ from the drop-down issue name list.
- Enter your application number.
- Provide your PAN card details.
- Complete the captcha and hit ‘Search.’
Checking Allotment Status via Link Intime:
- Go to the Link Intime India website at Link Intime IPO Allotment.
- Select ‘Shree Tirupati Balajee Agro Trading Company Limited’ from the list once the allotment is finalized.
- Choose one of three identification modes: Application number, Demat account number, or PAN ID.
- Select the application type as either ‘ASBA’ or ‘Non-ASBA.’
- Enter the appropriate details as per your selected identification mode.
- Fill out the captcha and submit the form.
Key Dates and IPO Listing
The shares of Shree Tirupati Balajee Agro Trading Company will be listed on both the BSE and NSE. The tentative listing date is set for Thursday, September 12, 2024. Investors who have been allotted shares can expect their shares to be credited to their Demat accounts shortly before this date.
Registrar and Lead Managers
Link Intime India is the official registrar for the IPO, ensuring the seamless processing of applications, credit of shares, and refund handling. The lead book-running managers for the issue are Unistone Capital and PNB Investment Services, both well-established players in managing IPOs of this scale.
Shree Tirupati Balajee Agro Trading Company IPO Performance
Given the high subscription rate and the stable GMP, investors can expect a positive listing debut. However, it is advisable to monitor the market closely, as external factors such as market volatility can affect stock prices on the listing day.
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.
