Shree Tirupati Balajee Agro IPO Oversubscribed 124.74 Times
By Rediff Money Desk, New Delhi Sep 09, 2024 18:43
Shree Tirupati Balajee Agro Trading Company's IPO received a massive 124.74 times subscription on the closing day, with strong interest from QIBs and retail investors.
![Shree Tirupati Balajee Agro IPO Oversubscribed 124.74 Times](https://im.rediff.com/money/2021/jul/13ipo2.jpg)
Illustration: Dominic Xavier/Rediff.com
New Delhi, Sep 9 (PTI) The initial share sale of Shree Tirupati Balajee Agro Trading Company received a massive 124.74 times subscription on the closing day of bidding on Monday.
The nearly Rs 170-crore initial public offer (IPO) received bids for 1,78,48,29,420 shares against 1,43,08,000 shares on offer, as per NSE data.
The quota for non-institutional investors was subscribed a whopping 210.12 times while the portion for qualified institutional buyers (QIBs) received 150.87 times subscription. The category for retail individual investors (RIIs) garnered 73.22 times bidding.
The initial public offer of Shree Tirupati Balajee Agro Trading Company received 6.36 times subscription on the first day of bidding on Thursday.
Shree Tirupati Balajee Agro Trading Company Ltd has fixed a price band of Rs 78-83 per share for its initial share sale.
The IPO consists of a fresh issue of 1.47 crore equity shares and an offer-for-sale (OFS) of up to 56.90 lakh equity shares by Binod Kumar Agarwal.
Proceeds from the fresh issue will be used for payment of debt, investment in subsidiaries, supporting capital requirements and general corporate purposes.
Shree Tirupati Balajee Agro Trading Company is engaged in the business of manufacturing and selling Flexible Intermediate Bulk Containers (FIBCs) like large flexible bags and other industrial packaging products, including woven sacks, woven fabric, and narrow fabric, tapes in the Indian domestic market and overseas markets.
The company offers customised products and caters to the bulk packaging solutions of its clients from diverse industries like chemicals, agrochemicals, food mining, waste disposal industry, agriculture industry, lubricants and edible oil by supplying FIBC products for transportation purposes and their packaging requirements.
PNB Investment Services and Unistone Capital are the book-running lead managers to the issue.
The nearly Rs 170-crore initial public offer (IPO) received bids for 1,78,48,29,420 shares against 1,43,08,000 shares on offer, as per NSE data.
The quota for non-institutional investors was subscribed a whopping 210.12 times while the portion for qualified institutional buyers (QIBs) received 150.87 times subscription. The category for retail individual investors (RIIs) garnered 73.22 times bidding.
The initial public offer of Shree Tirupati Balajee Agro Trading Company received 6.36 times subscription on the first day of bidding on Thursday.
Shree Tirupati Balajee Agro Trading Company Ltd has fixed a price band of Rs 78-83 per share for its initial share sale.
The IPO consists of a fresh issue of 1.47 crore equity shares and an offer-for-sale (OFS) of up to 56.90 lakh equity shares by Binod Kumar Agarwal.
Proceeds from the fresh issue will be used for payment of debt, investment in subsidiaries, supporting capital requirements and general corporate purposes.
Shree Tirupati Balajee Agro Trading Company is engaged in the business of manufacturing and selling Flexible Intermediate Bulk Containers (FIBCs) like large flexible bags and other industrial packaging products, including woven sacks, woven fabric, and narrow fabric, tapes in the Indian domestic market and overseas markets.
The company offers customised products and caters to the bulk packaging solutions of its clients from diverse industries like chemicals, agrochemicals, food mining, waste disposal industry, agriculture industry, lubricants and edible oil by supplying FIBC products for transportation purposes and their packaging requirements.
PNB Investment Services and Unistone Capital are the book-running lead managers to the issue.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 13.53 (+ 2.97)
- 43285497
- GTL Infrastructure
- 2.58 ( -1.15)
- 30945554
- Suzlon Energy Ltd.
- 81.64 ( -0.38)
- 27599799
- Rajnish Wellness
- 3.34 ( -3.19)
- 24697110
- Srestha Finvest
- 1.81 (+ 0.56)
- 22616056
MORE NEWS
![Biocon's...](https://im.rediff.com/80-80/money/2018/may/01biocon.jpg)
Biocon's Mazumdar-Shaw Urges Innovation in...
Kiran Mazumdar-Shaw calls for increased R''D investment and IP development to drive...
PM e-drive Scheme Boosts EV Adoption: M''M,...
Mahindra '' Mahindra and Tata Motors welcome the PM e-drive scheme, which aims to...
![Yes Bank Stake...](https://im.rediff.com/80-80/money/2020/mar/09yes.jpg)
Yes Bank Stake Buy Jeopardized by 51% Demand:...
Bidders' insistence on a 51% stake in Yes Bank may derail the deal, according to a...