Sri Tirupati Balaji Agro Trading IPO: Everything you need to know before registeringIf you are interested in the upcoming IPO of Sri Tirupati Balaji Agro Trading, which is scheduled to launch on 5th September 2024, then you… This article will walk you through the important points – from key dates to subscription details to financial goals and objectives. Ready to dive in? Let’s not destroy everything!
1 .Important dates of Sri Tirupati Balaji IPO
Mmark your calendar! The Sri Tirupati Balaji Agro Trading IPO will open for subscription on September 5, 2024 and will close on September 9, 2024. 2024. Since the bulk of the transaction is reserved for Qualified Buying Institutions (QIBs), retail buyers so. Get ready for the competitive process.
2. Subscription Details
The price band for this IPO is set between ₹78 and ₹83 per equity share, each with a face value of ₹10. To apply, retail investors need to purchase a minimum of 180 shares, amounting to an investment of approximately ₹14,940. It’s crucial to act within the subscription window to secure your shares at this attractive price range.
3. Registrars and Lead Managers
Managing this IPO are PNB Investment Services Ltd and Unistone Capital Pvt Ltd as the book running lead managers, while Link Intime India Private Ltd will handle the registry. These firms bring a wealth of experience and reliability to the table, ensuring a smooth IPO process.
4. Objectives of the IPO
The Shree Tirupati Balajee IPO aims to raise ₹169.65 crore through a combination of an offer to sell and a new issuance of shares. Here’s how the company plans to use the proceeds:
Repayment of Loans: The funds will use to repay or prepay loans take by the company and its subsidiaries—Jagannath Plastics Pvt Ltd, Shree Tirupati Balajee FIBC Ltd, and Honorable Packaging Private Limited.
Working Capital: A significant portion of the proceeds will also be allocate to bolster the work capital needs of the company and its subsidiaries.
5. About Shree Tirupati Balajee Agro
Shree Tirupati Balajee Agro specializes in manufacturing Flexible Intermediate Bulk Containers (FIBCs), along with various industrial packaging materials such as tapes, woven bags, and narrow fabrics. These products are sold both in the Indian market and internationally, showcasing the company’s broad reach and diverse product line.
6. Financial performance
The financial health of the company looks good. From March 31, 2023 to March 31, 2024, Shree Tirupati Balajee Agro Trading Limited saw a 74% increase in profit after tax (PAT) and a 16% increase in revenue. These statistics show the potential for growth and the potential for strong performance going forward.
7. Competitive Landscape Shree Tirupati Balajee Agro
operates in a competitive sector and faces challenges from both large companies and small local players. The main competitors are Kanpur Plastipack Ltd, Rishi Techtex Ltd, Jumbo Bag Ltd, EMMBI Industries Ltd and Commercial Syn Bags Ltd. Understanding the competitive environment is critical to assessing a company’s market position and growth.
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8. HOLDINGS AND SHAREHOLDERS
The company is majority control by Binod Kumar Agarwal who holds 88.38%. After the IPO, its shares fell to 65.42%.
This change in ownership structure is important for investors because it will influence future corporate decisions.
Conclusion
Shree Tirupati Balajee Agro Trading’s IPO presents an attractive investment opportunity with attractive valuations, strong portfolio and clear objectives.
By understanding the key details and strategic goals of the IPO, you can make an informed decision about whether to subscribe.
Stay updated, evaluate the company’s performance and market position, and consider how this investment aligns with your portfolio goals.
