Shree Tirupati Balajee Agro Trading Company Limited IPO

NiftyTrader • September 4, 2024

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Shree Tirupati Balajee Agro Trading Company Limited IPO

Shree Tirupati Balajee Agro Trading Company Limited IPO opens on September 5, 2024, and closes on September 9, 2024. The allotment for the Shree Tirupati Balajee Agro Trading Company Limited IPO is anticipated to be completed on Tuesday, September 10, 2024. The IPO will be tentatively listed on the NSE and BSE on Thursday, September 12, 2024.

Shree Tirupati Balajee Agro Trading Company Limited IPO’s price band is Rs 78 to Rs 83 per share. The IPO is a book-built issue of Rs 3169.65 crores. The issue is a combination of a fresh issue of 1.48 crore shares.

Shree Tirupati Balajee IPO Details

IPO Date	September 5, 2024 to September 9, 2024
Listing Date	[.]
Face Value	₹10 per share
Price	₹78 to ₹83 per share
Lot Size	180 Shares
Total Issue Size	20,440,000 shares (aggregating up to ₹169.65 Cr)
Fresh Issue	14,750,000 shares (aggregating up to ₹122.43 Cr)
Offer for sale	5,690,000 shares of ₹10 (aggregating up to ₹47.23 Cr)
Issue Type	Book Built Issue IPO
Listing At	BSE, NSE
Shareholding pre-issue	66,820,852
Shareholding post-issue	81,570,852

Shree Tirupati Balajee IPO Lot Size

Investors can bid for a minimum of 180 shares and in multiples thereof. The table below depicts the minimum and maximum investment by retail investors and HNI regarding shares and amounts.

Application	Lots	Shares	Amount
Retail (Min)	1	180	₹14,940
Retail (Max)	13	2340	₹194,220
S-HNI (Min)	14	2,520	₹209,160
S-HNI (Max)	66	11,880	₹986,040
B-HNI (Min)	67	12,060	₹1,000,980

Shree Tirupati Balajee IPO Objectives

The company intends to utilize the net proceeds of the Fresh Issue to meet the following objectives:

Investment in the subsidiaries HPPL, STBFL, and JPPL for Repayment and/or prepayment, in part or whole, of certain outstanding borrowings availed
Repayment and/or prepayment, in part or full, of certain of the outstanding borrowings availed by the Company.
General Corporate Purpose.
Investment in the subsidiaries HPPL, STBFL and JPPL for funding working capital requirements and
Funding the incremental working capital requirements of the company;

About Shree Tirupati Balajee Agro Trading Company Limited

Founded in October 2001, Shree Tirupati Balajee Agro Trading Company Limited specializes in manufacturing and selling Flexible Intermediate Bulk Containers (FIBCs), woven sacks, and other industrial packaging products. Serving a diverse range of industries including chemicals, food, and agriculture, the company operates five ISO-certified manufacturing units through subsidiaries like Honourable Packaging Private Limited and Shree Tirupati Balajee FIBC Limited. With a workforce of 857 employees, the company caters to both domestic and international markets.

Shree Tirupati Balajee Agro Trading Company Limited Financial Information

Shree Tirupati Balajee Agro Trading Company Limited’s revenue increased by 16% and profit after tax (PAT) rose by 74% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	516.94	392.46	391.89
Revenue	552.82	478.14	453.79
Profit After Tax	36.07	20.72	13.66
Net Worth	173.07	110.21	92.23
Reserves and Surplus	106.24	109.05
Total Borrowing	243.69	223.81	240.06
			Amount in ₹ Crore

Shree Tirupati Balajee IPO Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not more than 50.00% of the Net offer
Retail Shares Offered	Not less than 35.00% of the Offer
NII (HNI) Shares Offered	Not less than 15.00% of the Offer

Shree Tirupati Balajee IPO Timeline

Shree Tirupati Balajee IPO opens on September 5, 2024, and closes on September 9, 2024.

IPO Open Date	Thursday, September 5, 2024
IPO Close Date	Monday, September 9, 2024
Basis of Allotment	Tuesday, September 10, 2024
Initiation of Refunds	Wednesday, September 11, 2024
A credit of Shares to Demat	Wednesday, September 11, 2024
Listing Date	Thursday, September 12, 2024
Cut-off time for UPI mandate confirmation	5 PM on September 9, 2024