Shree Tirupati Balajee Agro Company Ltd IPO Opens On September 05. Check IPO Details Issue Date Price

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Shree Tirupati Balajee Agro Company Ltd IPO Opens On September 05. Check IPO Details Issue Date Price

September 05, 2024
Shree Tirupati Balajee Agro Company Ltd IPO Opens On September 05. Check IPO Details Issue Date Price

Shree Tirupati Balajee Agro Company Limited is coming out with an initial public offer to raise Rs. 170 crores from the market.

Below are the details of the Shree Tirupati Balajee Agro Company Limited IPO:

  • Issue opens – September 05 (Thursday)
  • Issue closes – September 09 (Monday)
  • Issue size – Rs. 170 crores
  • Price band – Rs. 78 to 83 per equity share
  • Bid lot – 180 shares and in multiples thereof.

And here are some details of the company and further details on the IPO.

Company Details:

  • The Company was originally incorporated as ‘Shree Tirupati Balajee Agro Trading Company Pvt. Ltd’, in October 2001. Upon the conversion into a public limited company, the name was changed to “Shree Tirupati Balajee Agro Trading Company Ltd” in November 2023. The company engaged in the business of manufacturing and selling of Flexible Intermediate Bulk Containers and other industrial packaging products such as woven sacks, woven fabric and narrow fabric, tapes in the Indian domestic market and overseas.
  • The company cater 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.
  • The company’s product portfolio comprises of industrial and consumer packaging solutions, lifestyle products, automotive components, healthcare products and construction related products.
  • The company’s products include UN certified bulk Bags, thermal insulation bags, Type C bags, patented Aero-polymesh bags, fire retardant bags, shape-lock bags, rodent repellent bags, multi-layer liner bags, drum bags, container line bags, bags made of recycled PP, BOPP printed bags, asbestos bags, sift proof bags, Type D bags and specialized PP woven bags.
  • The company owns and operates 5 Manufacturing Facilities strategically located at Indore (Madhya Pradesh). The units are in proximity to Mumbai and major industrial zones having good connectivity to ports, airports, and highways. The manufacturing facilities are spread across 21,613 Sq. Mtr., with an installed extrudious capacity of ~2,300 Mt/ month and its utilized capacity of ~2,200 Mt/ month.
  • The company also operates and manages the business through its subsidiaries viz. Honourable Packaging Pvt. Ltd (HPPL), Shree Tirupati Balajee FIBC Ltd (STBFL) and Jagannath Plastics Pvt. Ltd (JPPL).
  • The company’s manufacturing units I and II hold ISO 9001:2015 and ISO 22000:2018 certifications. The company’s Unit III is certified with ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, ISO 22000:2018, and SEDEX SMETA four-pillar.
  • The company has in-house product development facilities. The company has 1 granted patent and 2 pending patents for its developed products.
  • The company’s revenues from operations have grown from Rs. 444.18 Cr in FY2022 to Rs. 539.66 Cr IN FY2024, while the EBITDA margins have increased from 8.93% to 13.58% during the same period. The company’s total borrowings stood  at Rs. 243.68 Cr in FY2024.

Issue Size : Rs. 170 Cr

Issue break-up :

QIB – 50% of the offer – Rs. 84.83 Cr.
NIB – 15 % of the offer – Rs. 25.45 Cr.
RET – 35% of the offer – Rs. 59.38 Cr.

Listing : BSE & NSE

Registrar : Link Intime India Private Limited

UPI : All Retail & NII Bidders (bids up to Rs. 5,00,000) Applications through brokers are compulsorily in UPI Mode

Note:

Application made using third party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs. 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e., Monday, September 9th, 2024.

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