On Thursday, September 5, the Shree Tirupati Balajee Agro Trading IPO will go live for subscription. The price range for the initial public offering, which ends on September 9, is Rs 78–Rs 83 per share.
Through a new issue of 1.47 crore equity shares and an offer-for-sale (OFS) of 56.9 lakh shares by promoter Binod Kumar Agarwal, the first share sale seeks to raise Rs 169.65 crore.
Minimum lot size
Investors may place bids in multiples of 180 shares after the minimum of 180 equity shares. Retail investors can invest up to Rs 2 lakh in the Shree Tirupati Balajee IPO (13 lots - 2,340 shares), with a minimum investment of Rs 14,940 per lot (180 shares) and a maximum investment of Rs 1,94,220.
Half of the company's size for the public offering is designated for qualified institutional buyers (QIBs), retail investors will receive 35 per cent of the shares, and non-institutional investors will receive the remaining 15 per cent.
Allotment and listing
The basis of allotment of IPO shares will be finalised by the company on September 10. Participants to be investing in the IPO can check the allotment status on that day.
Eligible investors will get the company's IPO shares in their demat accounts by September 11, while these shares will be traded on the BSE and NSE effective September 12.
PNB Investment Services, and Unistone Capital are acting as the merchant bankers to the issue, while Link Intime India is the registrar to the offer.
Utilisation of the proceedings
The proceeds from the new issue will be used by the business for general corporate purposes, support capital requirements, debt repayment, and subsidiary investments.
Company offerings
Shree Tirupati Balajee Agro Trading Company was founded in 2001 and offers bulk packaging services. It produces woven fabric, woven sacks, tapes, and narrow fabric, among other industrial packaging products, in addition to flexible intermediate bulk containers (FIBCs), which resemble large flexible bags.
It serves a variety of industries, including waste management, lubricants, edible oil, chemicals, food mining, agrochemicals, and agriculture.
