Shree Tirupati Balajee Agro Trading Co.L will hold a meeting of the Board of Directors of the Company on 1 October 2024.Powered by Capital Market - Live

Shree Tirupati Balajee Agro Trading Co.L will hold a meeting of the Board of Directors of the Company on 1 October 2024.Powered by Capital Market - Live

The scrip was listed at Rs 92.90, exhibiting a premium of 11.93% to the issue price. So far, the stock has hit a high of 97.54 and a low of 92. On the BSE, over 14.69 lakh shares of the company were traded in the counter so far. The initial public offer (IPO) of Shree Tirupati Balajee Agro Trading Company was subscribed 124.75 times. The issue opened for bidding on 5 September 2024 and it closed on 9 September 2024. The price band of the IPO was fixed between Rs 78 to 83 per share. The IPO comprised fresh issue of equity shares worth up to Rs 122.42 crore and an offer for sale of 56,90,000 equity shares aggregating up to Rs 47.22 crore by existing shareholders. The company proposed to utilize the net proceeds from the fresh issue towards repayment and/or prepayment, in part or full, of certain of its outstanding borrowings availed by the company. Investment in its subsidiaries HPPL, STBFL and JPPL for repayment and/or prepayment, in part or full, of certain of outstanding borrowings availed. Further, the firm will also utilize the proceeds for funding the incremental working capital requirements of the company; investment in its subsidiaries HPPL, STBFL and JPPL for funding working capital requirements and general corporate purposes. Ahead of the IPO, Shree Tirupati Balajee Agro Trading Company on Wednesday, 4 September 2024 raised Rs 50.89 crore from anchor investors. The board allotted 61.32 lakh shares at Rs 83 each to 6 anchor investors. Shree Tirupati Balajee Agro Trading Company is engaged in the business of manufacturing and selling of 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. The company offer customised products and cater to the bulk packaging solutions of our clients from diverse industries like chemicals, agrochemicals, food mining, waste disposal industry, agriculture industry, lubricants and edible oil by supplying them our FIBC products for transportation purposes and their packaging requirement. It provides a labor-saving alternative for packaging and transportation, making loading and unloading of vessels, containers, or trucks more efficient. The company has the largest retail footprint in Eastern India compared to other listed value retailers in Fiscal 2024. As of 31 March 2024, it operated 162 stores across more than 1.47 million square feet in 146 cities. The majority of its stores are operated under the brand name 'Style Bazaar'. The firm reported a consolidated net profit of Rs 36.07 crore and revenue from operations of Rs 539.66 crore for the twelve months ended on 31 March 2024. Powered by Capital Market - Live