Co offers solutions of its clients from diverse industries like chemicals, agrochemicals, food mining, waste disposal industry, agriculture industry, lubricants, and edible oil
MUMBAI, Sep 2 (The CONNECT) – Bulk packaging solutions provider Shree Tirupati Balajee Agro Trading Company Ltd will go public on Thursday, September 05, 2024 with its IPO at a price band of ₹78-₹83 apiece.
Led by Binod Kumar Agarwal, Shree Tirupati Balajee Agro offers customized 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.
The Company is a three-star export house, has been in operation for over 20 years and currently operates through five manufacturing units, emphasizing sustainability by reusing and recycling plastic products to lower carbon emissions.
The IPO consists of Fresh Issue of up to 1,47,50,000 equity shares and an Offer for Sale (OFS) of up to 56,90,000 equity shares by Agarwal.
Investors can bid for a minimum of 180 Equity Shares and in multiples of 180 Equity Shares thereafter in the issue that closes on Monday, September 09, 2024.
Shree Tirupati Balajee Agro Trading Company’s consolidated revenue from operations increased by 13.51% to ₹539.66 crore for Fiscal 2024 from ₹475.43 crore for Fiscal 2023. Its Profit aftr tax increased by 74.11% to ₹36.07 crore for the financial year 2024 from ₹20.71 crore for the financial year 2023.
PNB Investment Services Limited, and Unistone Capital Private Limited are the book running lead managers and Link Intime India Private Limited is the registrar to the Offer. The equity shares are proposed to be listed on BSE and NSE.
The Offer is being made through the Book Building Process, wherein not more than 50% of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the offer Shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders.
