Shri Tirupati Balaji Agro Trading shares listed up 11.93%: Currently trading up 17% at Rs 97.54, this IPO was open from 5-9 September

The share of Shri Tirupati Balaji Agro Trading Company Limited was listed on the Bombay Stock Exchange (BSE) at ₹ 92.90, 11.93% above the issue price. At the same time, the share was listed on the National Stock Exchange (NSE) at ₹ 90, 8.43% above the issue price. The issue price of this IPO was ₹ 83. Currently it is trading at ₹ 97.54, 17% above the issue price.

This initial public offering was open from September 5 to September 9. The IPO was subscribed a total of 124.74 times in three trading days. The retail category was subscribed 73.22 times, qualified institutional buyers (QIB) 150.87 times and non-institutional investors (NII) category 210.12 times.

The issue of Shri Tirupati Balaji Agro Trading Company was of ₹ 169.65 crore

This issue of Shri Tirupati Balaji Agro Trading Company was worth a total of ₹169.65 crores. For this, the company issued 14,750,000 fresh shares worth ₹122.43 crores. Whereas, the existing investors of the company sold 5,690,000 shares worth ₹47.23 crores through Offer for Sale i.e. OFS.

Retail investors could bid for a maximum of 2340 shares

Sri Tirupati Balaji Agro Trading Company had fixed the price band of the issue at ₹ 78 to ₹ 83. Retail investors could bid for a minimum of one lot i.e. 180 shares. If you had applied for 1 lot as per the upper price band of the IPO of ₹ 83, you would have had to invest ₹ 14,940 for it.

At the same time, retail investors could apply for a maximum of 13 lots i.e. 2340 shares. For this, investors would have to invest ₹ 194,220 according to the upper price band.

35% of the issue was reserved for retail investors

The company had reserved 50% of the issue for qualified institutional buyers (QIB). Apart from this, 35% was reserved for retail investors and the remaining 15% for non-institutional investors (NII).

Along with repaying the debt, the funds will be used for investing in subsidiary companies

Shri Tirupati Balaji Agro Trading Company will use the funds raised from the IPO to repay debt, invest in subsidiaries, meet capital requirements and general company operations. Shri Tirupati Balaji Agro Trading Company is engaged in the business of manufacturing and selling industrial packaging products such as large flexible bags and woven sacks, woven fabrics and tapes.

What is IPO?

When a company issues its shares to the general public for the first time, it is called Initial Public Offering or IPO. The company needs money to expand its business. In such a situation, instead of taking a loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this, the company brings IPO.