IPO

Shree Tirupati Balajee Agro Trading Company Limited IPO

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Listed On: Sep 12, 2024 at ₹ 90.0(NSE)

₹ 14940 /180 Shares

Check Allotment

05 Sep, 2024

Open Date

09 Sep, 2024

Close Date

10 Sep, 2024

Allotment Date

12 Sep, 2024

Listing Date
Price Summary

Last Closing

50.18 (-39.54%)

52 Week High

83.00

52 Week Low

38.55

Last Update

14-Oct-2025 3:30 PM
Shree Tirupati Balajee Agro Trading Company IPO Issue Details
  • Issue Price ₹78-83 per equity share
  • Face Value ₹10 Per Equity Share
  • Total Issue Size 2,04,40,000 shares(aggregating up to ₹169.65 crore)
  • Fresh Share 1,47,50,000 shares(aggregating up to ₹122.43 crore)
  • Offer For Sale 56,90,000 shares(aggregating up to ₹47.23 crore)
  • Listing at BSE, NSE
  • List Price 90.0(NSE)
  • Listing Date 2024-09-12
  • Lead Manager Pnb Investment Services Ltd
    Unistone Capital PrivateLimited
  • Registrar Link Intime India Private Ltd
Market Lot Size

Investors can bid for a minimum of 180 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

ApplicationLotsSharesAmount
Retail (min)1180₹14,940
Retail(max)132340₹1,94,220
Shree Tirupati Balajee Agro Trading Company IPO Reservation

Shree Tirupati Balajee Agro Trading Company IPO offers total 2,04,40,000 shares. Out of which 40,88,000 (20%) allocated to QIB, 30,66,000 (15%) allocated to NII,71,54,000 (35%) allocated to RII, NA (NA%) allocated to employees and 61,32,000 (30%) allocated to Anchor investors.

Investor CategoryShares OfferedMaximum Allottees
Anchor Investor Shares Offered61,32,000 (30%)
QIB Shares Offered40,88,000 (20%)
NII (HNI) Shares Offered30,66,000 (15%)
bNII < ₹10L20,44,000 (10%)
sNII < ₹10L10,22,000 (5%)
Retail Shares Offered71,54,000 (35%)
Total Shares Offered2,04,40,000 (100%)
Shree Tirupati Balajee Agro Trading Company IPO Documents
DRHP
RHP
ANCHOR
Shree Tirupati Balajee Agro Trading Company IPO Details


Shree Tirupati Balajee Agro Trading Company IPO is a book-built issue of ₹169.65 crores, The total issue size is ₹169.65 crores. The IPO of Shree Tirupati Balajee Agro Trading Company is priced at ₹78-83 per equity share, which has a face value of ₹10 Per Equity Share each, IPO bidding starts from Sep 5, 2024 and ends on Sep 9, 2024. The allotment for Shree Tirupati Balajee Agro Trading Company IPO will be finalized on Sep 10, 2024. Shree Tirupati Balajee Agro Trading Company IPO will be listed on BSE, NSE, with a tentative listing date fixed as Sep 12, 2024. The company shall list its equity shares on the BSE, NSE. Link Intime India Private Ltd is the registrar of the issue.

Retail investors can bid for a minimum of 180 shares, extendable to 14,940. The book-running lead manager for the IPO is/are Pnb Investment Services Ltd, Unistone Capital PrivateLimited.

The total issue ₹169.65 crore, comprising a fresh issue of 1,47,50,000 shares ₹122.43 crore and having Offer for Sale (OFS) of 56,90,000 shares to mop up ₹47.23 crore.

The Shree Tirupati Balajee Agro Trading Company IPO sets its price band at 78-83 for each share. A single application for Shree Tirupati Balajee Agro Trading Company Limited IPO must contain at least 180 shares. Sentiment investors need to invest a minimum of 180 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,940

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Shree Tirupati Balajee Agro Trading Company IPO Subscription Analysis And Details
Retail
69.80x
QIB
150.87x
NII
209.38x
bNII
225.47x
sNII
177.18x
Total
122.88x
As onQIBNII
bNII   sNII		RetailTotal
Shares Offered / Reserved4,088,0003,066,000
2,044,000    1,022,000		7,154,00014,308,000
Day 1 05-09-24 05:00 PM
4.46 x4.43
3.67 x   5.94 x		7.76 x6.10 x
Day 2 06-09-24 05:00 PM
4.69 x28.54
27.82 x   29.99 x		21.39 x18.15 x
Day 3 09-09-24 05:00 PM
150.87 x209.38
225.47 x   177.18 x		69.80 x122.88 x
Total No of Applications
26,51,702
Subscription on the basis of Applications
Retail:64.65x BHNI:45.22x SHNI:170.15x
Shree Tirupati Balajee Agro Trading Company Valuations
EPS Pre IPO ₹5.40/-
EPS Post IPO ₹4.42/-
P/E Pre IPO 15.37
P/E Post IPO 18.77
ROE 20.84%
ROCE 16.29%
Debt/Equity 1.41
RoNW 20.84%
PAT Margin 6.53
Price to Book Value 3.01
Shree Tirupati Balajee Agro Trading Company Company Financials
In Crs.
In Cr.
31-Mar-2431-Mar-2331-Mar-22
Assets516.94392.46391.89
Revenue552.82478.14453.79
Profit After Tax36.0720.7213.66
Net Worth173.07110.2192.23
Reserves & Surplus106.24109.05N/A
Total Borrowing243.69223.81240.06
About Shree Tirupati Balajee Agro Trading Company Company

Shree Tirupati Balajee Agro Trading Company Limited 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 customized products and caters to the bulk packaging needs of clients from various industries, including chemicals, agrochemicals, food, mining, waste disposal, agriculture, lubricants, and edible oil.The company operates through subsidiaries such as Honourable Packaging Private Limited (HPPL), Shree Tirupati Balajee FIBC Limited (STBFL), and Jagannath Plastics Private Limited (JPPL).

The company operates five manufacturing units. Units I and II are certified with ISO 9001: 2015 and ISO 14001:2018. Unit III is certified with ISO 9001: 2015, ISO 45001: 2018, ISO 14001: 2015, ISO 14064-1: 2018, and the SEDEX SMETA four-pillar. The company's certifications cover the production of Flexible Intermediate Bulk Containers (FIBC), Woven Sacks, and Fabrics of PP (Polypropylene) and HDPE (High-Density Polyethylene).As of July 2024, the company has 857 department employees.

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Shree Tirupati Balajee Agro Trading Company - Promoter(s)

Binod Kumar Agarwal

Pre Issue Share Holding : 88.38%

Post Issue Share Holding : 65.42%

Shree Tirupati Balajee Agro Trading Company IPO - Issue Objectives
1

Repayment and/or prepayment, in part or full, of certain of the outstanding borrowings availed by the Company.

2

Investment in the subsidiaries HPPL, STBFL and JPPL for Repayment and/or prepayment, in part or whole, of certain outstanding borrowings availed.

3

Funding the incremental working capital requirements of the company

4

Investment in the subsidiaries HPPL, STBFL and JPPL for funding working capital requirements

5

General corporate purposes.

Shree Tirupati Balajee Agro Trading Company IPO - Anchor Investors

Shree Tirupati Balajee Agro raises Rs 51 crore via anchor book.

Investors NAV Capital Emerging Star Fund, Chanakaya Opportunities Fund I, and Next Orbit Growth Fund III invested Rs 10 crore each in the company.

Other investors that participated in the anchor book were Saint Capital Fund, Steptrade Revolution Fund, and Astrone Capital VCC - Arven, who bought Rs 20.9 crore worth of shares.

Shree Tirupati Balajee Agro Trading Company IPO - Peers Comparison
Company NameEPS (Basic)EPS (Diluted)NAV (per share) (Rs)P/E (x)RoNW (%)P/BV RatioFinancial statements
Shree Tirupati Balajee Agro Trading Company Limited5.745.7427.54N/A20.84N/AConsolidated
Commercial Syn Bags Ltd1.811.8132.0237.135.66N/AN/A
Emmbi Industries Ltd5.625.6296.1722.075.85N/AN/A
Rishi Techtex Ltd.1.821.8243.0933.014.23N/AN/A

Notes:

  1. P/E figures for the peers are based on closing market prices of equity shares on BSE on March 31, 2024, divided by the Diluted EPS as of August 30, 2024, divided by the Basic EPS as of March 31, 2024.
  2. Basic Earnings per share = Net profit after tax, as restated / Weighted average number of shares outstanding during the year/period.
  3. Diluted Earnings per share = Net profit after tax, as restated / Weighted average number of diluted equity shares outstanding during the year/period.
  4. Return on Net Worth (%) for listed industry peers has been computed based on the Profit for the year ended March 31, 2024 divided by Total Equity as on March 31, 2024.
  5. Net Asset Value (in Rs) = Equity attributable to owners of the Company divided by weighted average numbers of equity shares outstanding during the year/period.
Strength
Shree Tirupati Balajee Agro Trading Company caters to various industries such as chemicals, agriculture, and food, with a broad FIBC product line, ensuring stable and visible future revenue streams.
Their state-of-the-art manufacturing facilities are ideally located near Mumbai with excellent connectivity to major ports and highways, enhancing distribution efficiency and reducing costs.
With an installed capacity of approximately 2,300 Mt/month and nearly full utilisation at 2,200 Mt/month, the company demonstrates strong operational efficiency and growth potential.
The company holds ISO 9001:2015 and ISO 22000:2018 certifications, with rigorous quality controls at every production stage, ensuring high standards and client satisfaction.
Weakness
Failure to meet quality standards or adapt to technological changes could harm the company's reputation and financial performance. Despite stringent quality controls, there's no assurance of perpetual compliance with evolving customer and regulatory standards.
Increasing global and national scrutiny on plastic use poses a substantial threat. With many economies, including India, moving to restrict or ban plastic products, Shree Tirupati's business operations and market presence could be severely compromised.
Contact Details

Shree Tirupati Balajee Agro Trading Company

Plot No.192, Sector 1, Pithampur, Dhar - 454775

+917314217400

info@tirupatibalajee.net

https://www.tirupatibalajee.net/

Registrar Contact Details

Link Intime India Private Ltd

+91-22-4918 6270

shreetirupatibalajee.ipo@linkintime.co.in

https://linkintime.co.in/initial_offer/public-issues.html