Shree Tirupati Balajee IPO Subscribed 8.56x on Day 2

Shree Tirupati Balajee’s IPO has garnered an increased subscription from retail investors. Shree Tirupati Balajee’s IPO is a book-built issue of ₹169.65 crores. The issue combines a fresh issue of 1.48 crore shares aggregating to ₹122.43 crore and an offer for sale of 0.57 crore shares aggregating to ₹47.23 crore. Shree Tirupati Balajee IPO price band is set at ₹78 to ₹83 per share. The minimum lot size for an application is 180 Shares.

Day Wise Subscription

On 1st day of bidding, Shree Tirupati Balajee IPO subscribed 6.43 times. The public issue subscribed 8.05 times in the retail category, 4.46 times in QIB, and 5.27 times in the NII category.

On the 2nd day of bidding, Shree Tirupati Balajee IPO subscribed 8.56 times. The public issue subscribed 8.67 times in the retail category, 4.46 times in QIB, and 13.77 times in the NII category.

Grey Market Premium

Shree Tirupati Balajee IPO’s last GMP is ₹40. With the price band of ₹83.00, Shree Tirupati Balajee IPO’s estimated listing price is ₹123 (cap price + today’s GMP). The expected percentage gain/loss per share is 48.19%.

About Shree Tirupati Balajee Agro Trading Company Limited

Established in October 2001, Shree Tirupati Balajee Agro Trading Co. Ltd. (STBATCL) manufactures and sells Flexible Intermediate Bulk Containers (FIBCs), i.e., large flexible bags, and other industrial packaging products such as woven sacks, woven fabric, narrow fabric, and tapes in the Indian domestic market and overseas.

The company offers customised products and caters to the bulk packaging solutions of clients from diverse industries, such as chemicals, agrochemicals, food, mining, waste disposal, agriculture, lubricants, and edible oil, by supplying FIBC products for transportation purposes and their packaging requirements. The company offers an alternative for packaging and transportation, streamlining the loading and unloading processes of vessels, containers, or trucks, thereby reducing labour requirements.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.