Shree Tirupati Balajee Agro Trading IPO Day 3: Issue subscribed 45.69 times so far, NIIs lead; check key details

The initial public offer of Shree Tirupati Balajee Agro Trading Company was subscribed 45.69 times so far on day three of the subscription on Monday, September 9.

The ₹169.65 crore initial share sale attracted bids for 65,37,94,020 shares against 1,43,08,000 shares on offer, as per NSE data.

The quota for non-institutional investors received 105.86 times the subscription, while the portion meant for retail individual investors (RIIs) was subscribed 41.89 times. The qualified institutional buyers (QIBs) category received 7.23 times the subscription.

The public offer, which has a price band of ₹78-₹83 per equity share, will conclude on September 9.

The IPO is a combination of a fresh issuance of 1.47 crore shares and an offer-for-sale (OFS) of up to 56.90 lakh shares by Binod Kumar Agarwal.

Fresh issue proceeds will be used for payment of debt, supporting capital requirements, investment in subsidiaries and general corporate purposes.

About Shree Tirupati Balajee Agro Trading Company

Shree Tirupati Balajee Agro Trading Company manufactures flexible intermediate bulk containers (FIBCs) like large flexible bags and other industrial packaging products, including woven fabric, woven sacks and narrow fabric, and tapes in domestic and international markets.

The company offers customised products and caters to the bulk packaging solutions of its clients from diverse industries, such as chemicals, food mining, waste disposal, agrochemicals, agriculture, edible oil, and lubricants, by supplying FIBC products for transportation purposes and their packaging requirements.

Unistone Capital and PNB Investment Services are the book-running lead managers to the issue.