Shree Tirupati Balajee IPO: Issue subscribed nearly 6 times so far on day 1; check day 1 subscription status

Shree Tirupati Balajee IPO was booked 5.8 times till 4:30 pm, as per the NSE data. The investors placed bids for over 8.3 crore shares against 1.43 crore shares on offer.

Retail investors applied for over 5.32 crore shares against 71.54 lakh shares set aside for the category. The issue was booked 7.45 times in the retail segment.

The IPO was subscribed 3.78 times in the Non-Institutional Investors (NIIs) category with applications for over 1.15 crore shares against 30.66 lakh shares reserved for the category.

Qualified Institutional Buyers (QIBs) placed bids for nearly 1.82 crore shares compared to 40.88 lakh shares reserved for the category, leading to a booking of 4.45 times in the category.

Shree Tirupati Balajee IPO offer size and price band

The ₹169.65-crore public offer of Shree Tirupati Balajee Agro Trading Co. Ltd consists of a combination of fresh issue of 1.48 crore shares, aggregating to ₹122.43 crore, along with an offer-for-sale (OFS) of 57 lakh shares amounting to ₹47.23 crore. Shree Tirupati Balajee IPO price band has been fixed at ₹78 to ₹83 per share.

Retail investors interested in applying for Shree Tirupati Balajee Agro Trading IPO can place bids for a minimum lot size of 1 lot consisting of 180 shares, which aggregates to an investment of ₹14,940.

Small Non Institutional Investors (sNII) can place bids for a minimum lot size of 14 lots or 2,520 shares, amounting to ₹2,09,160. Big Non Institutional Investors (bNII) can place bids for a minimum lot size of 67 lots or 12,060 shares, aggregating to an investment of ₹10,00,980.

Shree Tirupati Balajee IPO allotment status and listing date

Shree Tirupati Balajee IPO subscription is open from September 5 to September 9.

Shree Tirupati Balajee IPO share allotment status is likely to be finalised by Tuesday, September 10. After the allotment of shares, refunds will be initiated for unsuccessful bidders on Wednesday, September 11, and successful bidders will receive shares of Shree Tirupati Balajee in their Demat accounts the same day. Shares of Shree Tirupati Balajee are scheduled to be listed on the NSE and BSE on September 12.

Shree Tirupati Balajee IPO registrar

Shree Tirupati Balajee IPO registrar is Link Intime India Private Ltd. Pnb Investment Services Ltd and Unistone Capital Pvt Ltd are the book running lead managers for Shree Tirupati Balajee IPO.

Shree Tirupati Balajee: Key financials

Shree Tirupati Balajee Limited’s revenue for FY24 increased over 15% to ₹552.82 crore compared to ₹478.14 crore in FY23. The company’s profit-after-tax surged to ₹36.07 crore in FY24, up more than 74% compared to ₹20.72 crore in FY23. In FY24, net worth grew over 57% to ₹173.07 crore compared to ₹110.21 crore in the preceding year.

Shree Tirupati Balajee promoters

The company promoter is Binod Kumar Agarwal. The promoter of the company held an 88.38% stake in the company before the issue; after the issue, the shareholding of the promoter will reduce to 65.42%.

Shree Tirupati Balajee IPO objective

Shree Tirupati Balajee plans to use the money raised via the public issue to repay and prepay outstanding borrowings. The company plans to invest the money raised via the issue in its subsidiaries. The funds will also be used to finance the company's working capital requirements.

About Shree Tirupati Balajee Limited

Shree Tirupati Balajee Agro Trading Company Limited was established in October 2001. The company is a manufacturer of s Flexible Intermediate Bulk Containers (FIBCs) and other industrial packaging products such as woven sacks, woven fabric, and narrow fabric. The company’s employee strength stood at 857, as of July 2024.