Shree Tirupati Balajee makes decent debut on bourses; list at 12% premium

IPO listing today: Shree Tirupati Balajee shares listed at Rs 92.90, a premium of 11.92 per cent on BSE, against the issue price of Rs 83

Shree Tirupati Balajee IPO listing today: Shares of Agro Trading Company, Shree Tirupati Balajee, made a decent debut on the bourses on Thursday. Shree Tirupati Balajee shares listed at Rs 92.90, a premium of 11.92 per cent on BSE, against the issue price of Rs 83.

On the NSE, Shree Tirupati Balajee shares listed at Rs 90, reflecting a premium of 8.43 per cent  against the IPO issue price. With this listing, investors who allotted the company's shares made a profit of nearly Rs 10 per share.

Ahead of their listing, Shree Tirupati Balajee shares were trading at a premium of Rs 23, which translates to a GMP of 27.71 per cent at the upper end of the issue price of Rs 83.

The public issue of Shree Tirupati Balajee, which comprised a fresh issue of 14,750,000 shares and an offer for sale of 5,690,000 shares with a face value of Rs 10, concluded for subscription on September 9, 2024, with a favourable response from investors. The issue was available with a price band of Rs 78-83 with a lot size of 180 shares. Shree Tirupati Balajee IPO received a remarkable 124.74 times subscription, led by Non-institutional investors (NIIs) who bid for a whopping 210.12 times. Meanwhile, Qualified Institutional Buyers (QIBs) bid for 150.87 times and retail investors at 73.22 times.

Shree Tirupati Balajee has also garnered reviews from several brokerage firms, including Anand Rathi Research, Team Swastika Investmart, and Master Capital Services, for the public issue. READ MORE.

About Shree Tirupati Balajee

Shree Tirupati Balajee is a leading agro trading company that 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 domestic market as well as overseas.