Shree Tirupati Balajee Agro Trading IPO Set for Sep 5 with Rs 78-83 Price Band

Shree Tirupati Balajee Agro Trading Company Ltd has set a price range of Rs 78-83 per share for its initial public offering (IPO), which aims to raise nearly Rs 170 crore. The IPO will be available for public subscription from September 5 to September 9, as stated by the company.

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The IPO includes a fresh issue of 1.47 crore equity shares and an Offer for Sale (OFS) of up to 56.90 lakh equity shares by Binod Kumar Agarwal. At the highest price band, the IPO is valued at Rs 169.65 crore. Proceeds from the fresh issue will be allocated for debt repayment, investments in subsidiaries, capital requirements, and general corporate purposes.

Flexible Intermediate Bulk Containers (FIBCs)

Shree Tirupati Balajee Agro Trading Company specialises in manufacturing and selling Flexible Intermediate Bulk Containers (FIBCs), such as large flexible bags and other industrial packaging products. These include woven sacks, woven fabric, narrow fabric, and tapes, catering to both domestic and international markets.

The company provides customised bulk packaging solutions for various industries including chemicals, agrochemicals, food mining, waste disposal, agriculture, lubricants, and edible oil. Their FIBC products are used for transportation and packaging needs.

Financial Performance

The company's consolidated revenue from operations grew by 13.51% to Rs 539.66 crore in fiscal 2024 from Rs 475.43 crore in the previous fiscal year. Profit After Tax saw a significant increase of 74.11%, reaching Rs 36.07 crore in fiscal 2024 compared to Rs 20.71 crore in the preceding year.

Investors can bid for a minimum of 180 equity shares and in multiples of 180 equity shares thereafter. PNB Investment Services and Unistone Capital are serving as the book-running lead managers for this issue.

Shree Tirupati Balajee Agro Trading Company’s IPO is expected to attract significant interest due to its strong financial performance and diverse product offerings in the industrial packaging sector.