The shares of Shree Tirupati Balajee Agro Trading listed on the bourses at 12% premium. The shares gets listed at ₹90 on NSE, at a premium of 8.43% from the issue price of ₹83 and at ₹92.90 on BSE, 11.93% up.
The ₹170 crore IPO has received massive subscription of 124.74 times. The issue has been booked 73.22 times by the retail investors, while non-institutional investors booked 210.12 times of the reserved quota. The Qualified Institutional Buyers (QIB) category received 150.87 times subscription of the reserved shares.
The IPO comprises a fresh issue of equity shares worth ₹122.43 crore and offer for sale of 56.90 lakh shares aggregating to ₹47.23 crore. The company has sold its shares at a price band of ₹78-83 per share.
The company will use net proceeds from the fresh issue towards repayment of debts, investing in subsidiary and for other working capital requirements.
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