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 |
