Shree Tirupati Balajee Agro IPO Allotment Set for Today

10 Sep 2024 , 09:30 AM

Shree Tirupati Balajee Agro Trading Company’s IPO share allotment is expected to take place today, September 10. Successful bidders can check the allotment status on the registrar’s official website or on the BSE.

The ₹170-Crore IPO received an overwhelming response, being subscribed 124.74 times. A total of 178.48 Crore shares were bid for, against 1.43 Crore shares on offer.

The IPO consists of a fresh issue of 1.47 Crore equity shares and an offer-for-sale (OFS) of 56.90 lakh equity shares by promoter Binod Kumar Agarwal.

The company’s shares are scheduled to be listed on the BSE and NSE on September 12. The IPO price band was set between ₹78 – ₹83 per share.

Proceeds from the fresh issue will be used to repay debt, invest in subsidiaries, meet capital requirements, and fund general corporate purposes.

Shree Tirupati Balajee Agro Trading Company manufactures and sells Flexible Intermediate Bulk Containers (FIBCs), including large flexible bags and industrial packaging products like woven sacks, woven fabric, and narrow fabric tapes. These products cater to both domestic and international markets.

The company provides customized bulk packaging solutions for industries such as chemicals, agrochemicals, food, mining, waste disposal, agriculture, lubricants, and edible oil, supporting their transportation and packaging needs with FIBC products.