Price Band of ₹78/- – ₹83/- per Equity Share bearing face value of ₹10/- each (“Equity Shares”)
· Bid/Offer Opening Date – Thursday, September 05, 2024 and Bid/Offer Closing Date – Monday, September 09, 2024.
· Minimum Bid Lot is 180 Equity Shares and in multiples of 180 Equity Shares thereafter.
· The Floor Price is 7.8 times the face value of the Equity Share and the Cap Price is 8.3 times the face value of the Equity Share.
Mumbai/Indore, September 2, 2024: Shree Tirupati Balajee Agro Trading Company Ltd is engaged in the business of manufacturing and selling Flexible Intermediate Bulk Containers (FIBCs) i.e. large flexible bags and other industrial packaging products such as woven sacks, woven fabric, and narrow fabric, tapes in the Indian domestic market and overseas has fixed the price band of ₹78/- to ₹83/- per Equity Share of face value ₹10/- each for its maiden initial public offer.
The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Thursday, September 05, 2024, for subscription and close on Monday, September 09, 2024. Investors can bid for a minimum of 180 Equity Shares and in multiples of 180 Equity Shares thereafter.
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 Binod Kumar Agarwal.
The proceeds from the fresh issue to the extent of Rs 31.45 crore will be repayment and/or prepayment, in part or full, of certain of the outstanding borrowings availed by the Company; Rs 20.82 crore for investment in the subsidiaries HPPL, STBFL and JPPL for Repayment and/or prepayment, in part or full, of certain of outstanding borrowings availed; Rs 13.50 crore for funding incremental working capital requirements of the Company; Rs 10.74 crore for Investment in the subsidiaries HPPL, STBFL and JPPL for funding working capital requirements; and general corporate purpose
Led by Mr. 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 for transportation purposes and their packaging requirements.
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.
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, primarily due to increase in revenues from Domestic sale of Products. Profit after 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.
Notes for Reference:
Issue Size of the IPO based on the upper and lower end of the price band
| Fresh (1,47,50,000 equity shares) | OFS (56,90,000 equity shares) | Total |
Lower Band (@Rs 78) | Rs 115.05 crore | Rs 44.38 crore | Rs 159.43 crore |
Upper Band (@Rs 83) | Rs 122.43 crore | Rs 47.23 crore | Rs 169.65 crore |
No comments:
Post a Comment