Shree Tirupati Balajee IPO Listing: Shares of Shree Tirupati Balaji, which provides packaging services, made a grand entry in the domestic market today. Its IPO received more than 124 times the overall bids. Shares were issued at a price of Rs 83 under the IPO. Today, it entered at Rs 92.90 on BSE and Rs 90.00 on NSE, meaning that IPO investors got a listing gain of 11.93 percent (Shree Tirupati Balajee Listing Gain). The shares rose further after the sting. It jumped and reached the upper circuit of Rs 97.54 (Shree Tirupati Balajee Share Price) on BSE, meaning that IPO investors are now in 17.52 percent profit.
Shree Tirupati Balajee IPO got a strong response
Shri Tirupati Balaji’s ₹169.65 crore IPO was open for subscription from 5-9 September. This IPO received a great response from investors and overall it was subscribed 124.74 times. In this, the portion reserved for qualified institutional buyers (QIB) was filled 150.87 times, the portion of non-institutional investors (NII) was filled 210.12 times and the portion of retail investors was filled 73.22 times.
Under this IPO, new shares worth Rs 122.43 crore have been issued. Apart from this, 56.90 lakh shares with a face value of Rs 10 have been sold under the Offer for Sale window. The money from the Offer for Sale will be received by the shareholders selling the shares. The company will use the money raised through new shares to repay debt, invest in subsidiaries to repay their debt, meet increased working capital needs, invest in subsidiaries for their working capital needs and for general corporate purposes.
About Shree Tirupati Balajee Agro Trading
Sri Tirupati Balaji Agro Trading Company, formed in October 2001, manufactures flexible intermediate bulk containers (FIBCs) such as large flexible bags and woven fabrics and tapes. It is sold worldwide. Its products are used in chemicals, agrochemicals, food, mining, waste disposal, agriculture, lubricants and edible oils, etc. Its business is carried out through three subsidiaries Honorable Packaging Private Limited, Sri Tirupati Balaji FIBC Limited and Jagannatha Plastics Private Limited. It has five manufacturing units.
Talking about the financial health of the company, it has been continuously strengthening. In the financial year 2022, it had a net profit of Rs 13.66 crore, which jumped to Rs 20.72 crore in the next financial year 2023 and reached Rs 36.07 crore in the financial year 2024. During this period, the company’s revenue grew at a compound growth rate (CAGR) of more than 10 percent annually to Rs 552.82 crore.
