Shree Tirupati Balajee Agro Trading Company, on Wednesday, said that it has raised ₹50.89 crores from anchor investors ahead of its initial public offering that opens for public subscription on Thursday, September 5.
According to the exchange filing, the company has allocated 61,32,000 equity shares at ₹83 per share on Wednesday, September 04, to anchor investors.
Institutions who participated in the anchor were NAV Capital VCC - NAV Capital Emerging Star Fund, Chanakaya Opportunities Fund I, Next Orbit Growth Fund III, Saint Capital Fund, Steptrade Revolution Fund and Astorne Capital VCC - Arven.
The IPO includes a Fresh Issue of up to 14,750,000 equity shares and an Offer for Sale (OFS) of up to 5,690,000 equity shares by Binod Kumar Agarwal.
The Company plans to launch its initial public offering (the "Offer") of Equity Shares on Thursday, September 5, 2024, with the subscription period closing on Monday, September 9, 2024. The price band for the Offer has been set between ₹78 and ₹83 per equity share.
At the upper end of the price band, the IPO is expected to raise ₹169.65 crore.
Investors can place bids for a minimum of 180 equity shares and in multiples of 180 shares thereafter.
The Offer will be conducted through the Book Building Process, with not more than 50% of the shares allocated to Qualified Institutional Buyers, at least 15% to Non-Institutional Bidders, and at least 35% to Retail Individual Bidders.
