Shree Tirupati Balajee IPO Listing: The equity shares of Shree Tirupati Balajee Agro Trading Company Ltd are set to make their stock market debut today after receiving robust demand for its initial public offering (IPO). Shree Tirupati Balajee IPO listing date is today, September 12.
Shree Tirupati Balajee IPO opened for subscription on September 5 and closed on September 9. The IPO allotment was fixed on September 10 and the Shree Tirupati Balajee IPO listing date is September 12, Thursday. Shree Tirupati Balajee shares are set to be listed on both the stock exchanges, BSE and NSE.
“Trading Members of the Exchange are hereby informed that effective from Thursday, September 12, 2024, the equity shares of SHREE TIRUPATI BALAJEE AGRO TRADING COMPANY LIMITED shall be listed and admitted to dealings on the Exchange in the list of ‘T’ Group of Securities,” a notice on BSE said.
Shree Tirupati Balajee shares will be in the Trade-for-Trade segment for 10 trading days and will be a part of Special Pre-open Session (SPOS) today, it added. Shree Tirupati Balajee stock will be available for trading from 10:00 am.
Ahead of the Shree Tirupati Balajee share listing today, the trends in the grey market indicated a decent debut of shares. Analysts also expect listing gains for Shree Tirupati Balajee share price today.
Here’s what analysts and Shree Tirupati Balajee IPO GMP today signal.
The trends in the grey market signals a strong listing for Shree Tirupati Balajee shares. Shree Tirupati Balajee IPO GMP today, or grey market premium today, ahead of listing is ₹22 per share. This indicates that Shree Tirupati Balajee shares are trading higher by ₹22 than their issue price in the grey market.
Considering the Shree Tirupati Balajee IPO GMP today and the issue price, the estimated Shree Tirupati Balajee share listing price is ₹105 apiece, which is at a premium of 27% to the IPO price of ₹83 per share.
Analysts also expect decent listing gains for Shree Tirupati Balajee IPO investors today.
“Shree Tirupati Balajee is set for a strong market debut, anticipated to list with a premium of 20% to 30%. With a current P/E ratio of 14.5x based on FY24 earnings, the IPO is attractively priced. Investors who have been allocated shares are advised to hold them for a medium to long-term perspective,” said Akriti Mehrotra, Research Analyst, Stoxbox.
Shree Tirupati Balajee Agro Trading Company Ltd. has established itself as a leading player in the FIBC (Flexible Intermediate Bulk Container) and industrial packaging market, capitalizing on high market demand and a global presence. Despite challenges like regulatory changes affecting plastic use, fluctuations in raw material supply, and regional manufacturing concentration, the company has shown consistent financial growth, Mehrotra added.
The company reported a revenue CAGR of 10.2%, rising from ₹444.2 crore in FY22 to ₹539.7 crore in FY24. EBITDA margins improved from 7% to 11%, and PAT increased from ₹13.7 crore to ₹36.1 crore.
The subscription period for Shree Tirupati Balajee IPO was from September 5 to September 9. The IPO allotment was finalized on September 10, and the Shree Tirupati Balajee IPO listing date is today, September 12.
The company raised ₹169.65 crore from the book-built issue which was a combination of fresh issue of 1.48 crore equity shares worth ₹122.43 crore and offer for sale of 56.90 lakh shares aggregating to ₹47.23 crore. Shree Tirupati Balajee IPO price band was ₹78 to ₹83 per share.
Shree Tirupati Balajee IPO was subscribed 124.74 times in total. The public issue was booked 73.22 times in the retail category, 150.87 times in the Qualified Institutional Buyers (QIB) category, and 210.12 times in the Non-Institutional Investors (NII) category.
PNB Investment Services Ltd and Unistone Capital Pvt Ltd are the book running lead managers of the Shree Tirupati Balajee IPO, while Link Intime India Private Ltd is the IPO registrar.
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