Shree Tirupati Balajee Agro Trading Company IPO: Mainboard issue booked over 123 times; check key details

Shree Tirupati Balajee Agro Trading Company Limited IPO closed with robust demand across investor categories on Monday, September 9. The initial public offering (IPO) of the flexible intermediate bulk containers (FIBC) manufacturer was booked 123.55 times on the last day of bidding.

The IPO received bids for more than 176.77 crore shares compared to 1.43 crore shares on offer.

The IPO was booked 209.75 times in the Non-Institutional Investors’ (NIIs) category with applications for 64.3 crore shares against 30.66 lakh shares set aside for the segment. The retail portion was booked 71 times with bids for 50.79 crore shares against 71.54 lakh shares set aside for the segment.

Compared to 40.88 lakh shares reserved for the Qualified Institutional Buyers (QIBs), bids were received for 61.67 crore shares. The QIBs booked their portion 150.87 times.

Shree Tirupati Balajee Agro Trading Company IPO offer size and price band

Shree Tirupati Balajee Agro Trading Company IPO is a book-building issue worth ₹169.65 crore. The IPO is a combination of a fresh issue of 1.48 crore shares, aggregating to ₹122.43 crore, and an offer-for-sale (OFS) of 57 lakh shares, aggregating to ₹47.23 crore.

The company's IPO price band was fixed at ₹78 to ₹83 per share.

Shree Tirupati Balajee Agro Trading Company IPO listing date

The IPO allotment status is expected to be finalised on September 10.

Refunds will be initiated for unsuccessful bidders on September 11, and shares will be credited to the successful bidder's demat accounts on the same day.

Shares of the company are expected to be launched on the NSE and BSE platforms on September 12.

Shree Tirupati Balajee Agro Trading Company IPO registrar

The registrar of the Shree Tirupati Balajee Agro Trading Company's initial public offering is Link Intime India Private Limited, while the book-running lead managers are Pnb Investment Services Limited and Unistone Capital Private Limited.

Shree Tirupati Balajee Agro Trading Company IPO objective

The company plans to utilise the net proceeds from the IPO for repayment or prepayment for certain outstanding borrowings.

Additionally, the proceeds will be invested in the company's subsidiaries—HPPL, STBFL, and JPPL— to repay or prepay their outstanding loan. The funds will also be used to support the company’s incremental working capital requirements, as well as those of its subsidiaries and a significant portion for general corporate purposes.

About Shree Tirupati Balajee Agro Trading Company Limited

Founded in October 2001, Shree Tirupati Balajee Agro Trading Company Limited specialises in the production and sale of Flexible Intermediate Bulk Containers (FIBCs), large flexible bags, and other industrial packaging products like woven sacks, woven fabric, narrow fabric and tapes.

The company serves both the Indian and international markets, providing customised packaging solutions to industries such as chemicals, agrochemicals, food, mining, waste disposal, agriculture, lubricants and edible oil.