New Delhi: On Thursday, the shares of Shree Tirupati Balajee Agro Trading Company Ltd debuted with a price that was approximately 12 percent higher than the initial price of Rs 83. The stock was listed on the BSE at Rs 92.90, showing an increase of 11.92 percent from the issue price. Afterwards, it surged by 17.51 percent to reach Rs 97.54. Trading started at Rs 90 on the NSE, with a rise of 8.43 per cent. The company was valued at Rs 795.64 crore in the market.
On Monday, the IPO of Shree Tirupati Balajee Agro Trading Company was oversubscribed by 124.74 times when the bidding closed. The IPO, worth around Rs 170 crore, was offered at a price range of Rs 78-83 per share. The initial public offering included 1.47 crore new equity shares and an Offer For Sale (OFS) of up to 56.90 lakh equity shares by Binod Kumar Agarwal. The money raised from the new offering will be utilized for paying off debts, investing in subsidiaries, meeting capital needs, and for general corporate purposes.
Shree Tirupati Balajee Agro Trading Company manufactures and sells Flexible Intermediate Bulk Containers (FIBCs), such as large flexible bags, along with other industrial packaging products like woven sacks, fabric, and tapes, in both the domestic Indian market and international markets. The company provides personalized items for bulk packaging needs in various industries such as chemicals, agrochemicals, food mining, waste disposal, agriculture, lubricants, and edible oil. They offer FIBC products for transportation and packaging needs.
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