The SME IPO market is all the buzz on Dalal Street. Another SME enterprise is on their way to list themselves on the Indian stock exchanges. Shree Tirupati Balaji Agro Trading is set to open for bidding for its Rs 169.65 crore initial public offer on September 5.
IPO size
Shree Tirupati Balajee Agro's Initial Public Offering (IPO) is intended to raise Rs. 169.65 crore.
The public offering of the industrial packaging product manufacturers consists of an offer-for-sale (OFS) portion of almost 57 lakh shares, for a total of Rs. 47.23 crore, and a fresh issue of 1.47 crore shares with the goal of raising Rs. 122.43 crore.
Price band and minimum bid
The price band for the Shree Tirupati Balajee Agro IPO is Rs. 78 to Rs. 83 per share. Retailers who wish to participate in the Shree Tirupati Balajee Agro initial public offering (IPO) may bid up to 180 shares, or Rs. 14,940, for a minimum of 1 lot.
Bids for a minimum of 14 lots, each containing 2,520 shares, are accepted from small non-institutional investors (sNII), with a maximum investment of Rs. 2,09,160. Large non-institutional investors may submit an application for a minimum of 12,060 shares, or 67 lots, for an investment of Rs. 10,00,980.
IPO category reservation
Shree Tirupati Balajee Agro Trading Company has reserved 50 per cent of the net offer for Qualified Institutional Buyers. As much as 35 per cent of the net issue has been set aside for the retail category, and 15 per cent of the net issue has been kept aside for the non-institutional investor (NII) category.
Tirupati Balaji IPO subscription timetable
The subscription window for the Shree Tirupati Balajee Agro IPO is anticipated to open on Thursday, September 5, and close on Monday, September 9.
On Tuesday, September 10, the Shree Tirupati Balajee IPO share allotment status is probably going to be finalised. On Wednesday, September 11, unsuccessful bidders will start receiving their refunds, and the allottees will get the shares in their demat accounts that same day.
On Thursday, September 12, shares of the Shree Tirupati Balajee Agro IPO are probably going to go live on the SME exchange of NSE and BSE
Company financials
Revenue for Shree Tirupati Balajee Agro Trading Company Limited increased from Rs. 478.14 crore in FY23 to Rs. 552.82 crore in FY24, an increase of more than 15 per cent.
In FY24, the company's profit-after-tax increased by over 74 per cent to Rs. 36.07 crore, from FY23's Rs. 20.72 crore. From Rs. 110.21 crore in FY23 to Rs. 173.07 crore, its net worth climbed by more than 57 per cent.
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