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Shree Tirupati Balajee Agro Trading shares hit 5% upper circuit for second consecutive day after listing

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By Kamal Joshi

2 min read | Updated on September 13, 2024, 09:55 IST

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SUMMARY

Shree Tirupati Balajee Agro Trading shares jumped 5% to ₹99.22 apiece - its upper circuit limit - on the National Stock Exchange (NSE) on Friday. The company's market capitalisation stands at ₹809.35 crore.

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BALAJEE
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Shree Tirupati Balajee Agro Trading Company provides packaging solutions.

Shares of Shree Tirupati Balajee Agro Trading Company continued their upward trend and hit the upper circuit on Friday, September 13, extending gains for a second consecutive session after debuting on September 12.

The stock jumped 5% to ₹99.22 apiece - its upper circuit limit - on the National Stock Exchange (NSE). The company's market capitalisation stands at ₹809.35 crore.

In traded volume terms, 16.45 lakh equity shares of the firm were traded.

Shree Tirupati Balajee Agro Trading shares jump 13.8% in debut trade

On Thursday, the scrip was listed at ₹90, reflecting a jump of 8.4% from the issue price of ₹83 on the NSE. The company's shares ended at ₹94.5, its upper circuit limit, reflecting a jump of 13.8%.

Shree Tirupati Balajee Agro Trading Company IPO got 124.74 times subscription during the bidding period.

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The nearly ₹170-crore public offer had a price band of ₹78-₹83 per equity share. The IPO consisted of a fresh issue of 1.47 crore shares and an Offer For Sale (OFS) of up to 56.90 lakh shares by Binod Kumar Agarwal.

Proceeds from the initial share sale will be used to pay off debt, invest in subsidiaries, support capital requirements and general corporate purposes.

Shree Tirupati Balajee Agro Trading manufactures and sells flexible intermediate bulk containers or FIBCs, such as large flexible bags, and industrial packaging products, including woven sacks, woven fabric, tapes and narrow fabric in the Indian domestic market and overseas markets.
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About The Author

WhatsApp Image 2024-06-20 at 9.58.49 AM.jpeg
Kamal Joshi is a business journalist who covers industries, markets and IPOs. He is passionate about breaking news and enjoys covering tennis, where he loves flexing his backhand.

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