Shree Tirupati Balajee shares close at a 13.8% premium

12 Sep 2024 , 03:41 PM

Shree Tirupati Balajee Agro Trading’s shares closed on the bourses on Thursday at an 13.8% premium. The company’s shares closed for Rs 97.54 on BSE and Rs 94.5 on NSE, representing an 13.8% premium on issue price of Rs 83.00.

Shree Tirupati Balajee Agro Trading’s IPO attracted an enormous reaction from investors, resulting in an aggregate subscription of 124 times at closing.

The proceeds from the new offer will be used to repay debt, make investments in subsidiaries HPPL, STBFL, and JPPL to repay borrowings, meet incremental working capital requirements, and for general company reasons.

Shree Tirupati Balajee manufactures and sells flexible intermediate bulk containers (FIBCs), which are huge flexible bags, as well as other industrial packaging items like woven sacks, woven fabric, and narrow fabric tapes in both the Indian and international markets.

It provides customised goods and bulk packaging solutions to clients in a variety of industries, such as chemicals, agrochemicals, food, mining, waste management, agriculture, lubricants, and edible oils. The company provides FIBC products for transportation and packaging applications.

Shree Tirupati Balajee is a global leader in FIBC and industrial packaging, with a good financial performance that includes sustained growth and higher margins.

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