Shree Tirupati Balajee Agro Trading has opened its Initial Public Offering (IPO) for subscription today, September 5, 2024. The company, known for manufacturing and selling Flexible Intermediate Bulk Containers (FIBCs) and other industrial packaging products, is looking to raise around ₹170 crore through this offer.
The price band for the IPO has been set between ₹78 and ₹83 per share, with the minimum bid size at 180 shares. The IPO consists of two parts: a fresh issue of up to 1.47 crore equity shares, and an Offer for Sale (OFS) of 56.9 lakh shares by significant shareholder Binod Kumar Agarwal.
Market analysts have noted a Grey Market Premium (GMP) of ₹21, suggesting positive investor sentiment. The IPO closes on Sunday, September 9, 2024, with shares reserved for Qualified Institutional Buyers (50%), retail investors (35%), and Non-Institutional Investors (15%).
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