{"id":30799,"date":"2024-09-04T12:46:15","date_gmt":"2024-09-04T07:16:15","guid":{"rendered":"https:\/\/delhinewswatch.com\/index.php\/2024\/09\/04\/shree-tirupati-balajee-agro-trading-company-limited-ipo-opens-on-september-05-2024\/"},"modified":"2024-09-04T12:46:15","modified_gmt":"2024-09-04T07:16:15","slug":"shree-tirupati-balajee-agro-trading-company-limited-ipo-opens-on-september-05-2024","status":"publish","type":"post","link":"https:\/\/delhinewswatch.com\/index.php\/2024\/09\/04\/shree-tirupati-balajee-agro-trading-company-limited-ipo-opens-on-september-05-2024\/","title":{"rendered":"Shree Tirupati Balajee Agro Trading Company Limited IPO Opens on September 05, 2024"},"content":{"rendered":"<div>\n<div>\n<p>Mumbai (Maharashtra) [India], September 4: Shree Tirupati Balajee AgroTrading Company Limited specializes in manufacturing and selling Flexible Intermediate Bulk Containers (FIBCs) and other industrial packaging products, such as woven sacks and tapes, both domestically and internationally, proposes to open its IPO on September 05, 2024. The company is aiming to raise \u20b9 169.65 Crores at the upper band through this IPO, with shares set to be listed on the BSE &amp; NSE platform.<\/p>\n<p>The\u00a0Issue\u00a0Size\u00a0is\u00a0Up To 2,04,40,000 including 1,47,50,000 Fresh Issue equity shares and 56,90,000 Offer for Sale\u00a0at face value of\u00a0\u20b9\u00a010\u00a0each.<\/p>\n<p><strong>Equity Share Allocation<\/strong><\/p>\n<p>\u2013 QIB\u00a0Anchor Portion \u2013\u00a0Not more than\u00a061,32,000\u00a0Equity Shares<\/p>\n<p>\u2013 Qualified Institutional Buyers (QIB) \u2013 Up to\u00a040,88,000Equity Shares<\/p>\n<p>\u2013 Non-Institutional Investors (NII) \u2013 Not less than\u00a030,66,000\u00a0Equity Shares<\/p>\n<p>\u2013 Retail Individual Investors (RII) \u2013\u00a0Not\u00a0less\u00a0than71,54,000\u00a0Equity Shares<\/p>\n<p>The net proceeds from the IPO will be used to Partially or Fully Settle Certain Outstanding Borrowings, Funding The Additional Working Capital Needs Of The Company, and Addressing General Corporate Purposes. The bidding for Anchor Portion will open on September 04, 2024, and the Issue will close on September 09, 2024.<\/p>\n<p>The\u00a0Book Running\u00a0Lead Managers\u00a0to the\u00a0Issue\u00a0are\u00a0PNB Investment Services Limited &amp;\u00a0Unistone Capital\u00a0Private\u00a0Limited.\u00a0The Registrar to the Issue is\u00a0Link Intime India Private Limited.<\/p>\n<p>Mr.\u00a0Binod Kumar Agarwal,\u00a0Chairman &amp;\u00a0Managing Director\u00a0of\u00a0Shree Tirupati Balajee\u00a0Agro\u00a0Trading Company Limited\u00a0expressed,\u00a0\u201cThis IPO represents a pivotal milestone in our journey, laying the foundation for future growth and success. With over two decades of industry experience\u00a0and operate out of five manufacturing units spread across 55,000+ square meters,\u00a0Shree Tirupati Balajee\u00a0AgroTrading Company Limited\u00a0on a global scale.<\/p>\n<p>The IPO proceeds will be essential for managing the repayment or prepayment of certain borrowings, supporting increased working capital needs, and covering general corporate expenses.\u00a0This will boost our brand\u2019s value, enhance operational efficiency, and secure long-term success and industry stability.\u201d<\/p>\n<p>Mr. Binod Kumar, Chairman &amp; Non-Executive Director of PNB Investment Services Limited, said, \u201cAs we approach our IPO, we see a significant opportunity for investors. Our company, with a global reach across 38 countries, is poised to capitalize on the growing FIBC market by providing tailored bulk packaging solutions for sectors like food, pharmaceuticals, and chemicals. This IPO is set to fuel our growth and deliver substantial value to our investors.\u201d<\/p>\n<p>Mr. Brijesh Parekh, Founder &amp; Director of UnistoneCapital Private Limited, said, \u201cThe upcoming IPO of STB is a significant milestone in their journey. The company operates and manages its business through its subsidiaries, Honourable Packaging Private Limited, Shree Tirupati Balajee FIBC Limited, and Jagannath Plastics Private Limited.<\/p>\n<p>The expanding FIBC market, driven by government initiatives and export opportunities, strengthens STB\u2019s role in global supply chains. With customizable packaging solutions across various sectors, STB is well-positioned for growth, presenting a compelling investment opportunity.\u201d<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Mumbai (Maharashtra) [India], September 4: Shree Tirupati Balajee AgroTrading Company Limited specializes in manufacturing and selling Flexible Intermediate Bulk Containers (FIBCs) and other industrial packaging products, such as woven sacks and tapes, both domestically and internationally, proposes to open its IPO on September 05, 2024. The company is aiming to raise \u20b9 169.65 Crores at [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":30800,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[628],"class_list":["post-30799","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/delhinewswatch.com\/index.php\/wp-json\/wp\/v2\/posts\/30799","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/delhinewswatch.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/delhinewswatch.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/delhinewswatch.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/delhinewswatch.com\/index.php\/wp-json\/wp\/v2\/comments?post=30799"}],"version-history":[{"count":0,"href":"https:\/\/delhinewswatch.com\/index.php\/wp-json\/wp\/v2\/posts\/30799\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/delhinewswatch.com\/index.php\/wp-json\/wp\/v2\/media\/30800"}],"wp:attachment":[{"href":"https:\/\/delhinewswatch.com\/index.php\/wp-json\/wp\/v2\/media?parent=30799"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/delhinewswatch.com\/index.php\/wp-json\/wp\/v2\/categories?post=30799"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/delhinewswatch.com\/index.php\/wp-json\/wp\/v2\/tags?post=30799"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}