The share of Shri Tirupati Balaji Agro Trading Company Limited was listed on the Bombay Stock Exchange (BSE) at ? 92.90, 11.93% above the issue price. At the same time, the share was listed on the National Stock Exchange (NSE) at ? 90, 8.43% above the issue price. The issue price of this IPO was ? 83. It is currently trading at ? 97.54, 17% above the issue price. This initial public offering was open from 5 September to 9 September. The IPO was subscribed a total of 124.74 times in three trading days. It was subscribed 73.22 times in the retail category, 150.87 times in qualified institutional buyers (QIB) and 210.12 times in the non-institutional investors (NII) category. Shri Tirupati Balaji Agro Trading Company’s issue was worth ?169.65 crores
Shri Tirupati Balaji Agro Trading Company’s issue was worth ?169.65 crores. For this, the company issued 14,750,000 fresh shares worth ?122.43 crores. Whereas, the existing investors of the company sold 5,690,000 shares worth ?47.23 crores through Offer for Sale i.e. OFS. Retail investors could bid for a maximum of 2340 shares
Shri Tirupati Balaji Agro Trading Company had fixed the price band of the issue from ?78 to ?83. Retail investors could bid for at least one lot i.e. 180 shares. If you applied for 1 lot as per the upper price band of IPO of ? 83, then you would have to invest ? 14,940 for it. At the same time, retail investors could apply for a maximum of 13 lots i.e. 2340 shares. For this, investors would have to invest ? 194,220 as per the upper price band. 35% of the issue was reserved for retail investors. The company had reserved 50% of the issue for qualified institutional buyers (QIB). Apart from this, 35% was reserved for retail investors and the remaining 15% was reserved for non-institutional investors (NII). Along with repaying the debt, the funds will be used for investing in subsidiary companies. Shri Tirupati Balaji Agro Trading Company will use the funds raised through the IPO to repay the debt, invest in subsidiary companies, meet capital requirements and for general company operations. Shri Tirupati Balaji Agro Trading Company is engaged in the business of manufacturing and selling industrial packaging products such as large flexible bags and woven sacks, woven fabrics and tapes. What is an IPO? When a company issues its shares to the general public for the first time, it is called an Initial Public Offering i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking a loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this, the company brings an IPO.
