Shree Tirupati Balajee shares listing: Scrip sees decent listing gains; lists at 12% premium on BSE

Shree Tirupati Balajee listing: The shares of Shree Tirupati Balajee, an agro-trading company made their stock market debut today. The stock on the BSE listed at a price of Rs 92.9, up 12 per cent against the issue price of Rs 83, while on the NSE it debuted at Rs 90- an over 8 per cent gain.

Running between September 5 and September 9, the issue comprising a fresh issue of 14,750,000 shares and an offer for sale (OFS) of 5,690,000 shares received strong investor response.  Available at a price band of Rs 78-83 with a lot size of 180 shares, the issue garnered an overwhelming response with  124.74 times oversubscription, led by the Non-institutional investors (NIIs) who bid for a whopping 210.12 times. This was followed by qualified institutional buyers (QIBs) at 150.87 times and retail investors at 73.22 times.

The company came up with the issue for repaying or prepaying, in part or full, of certain of its outstanding borrowings availed by the company. The proceeds from the issue will also be Investment in its subsidiaries HPPL, STBFL and JPPL for Repayment and/or prepayment, in part or full, of certain of outstanding borrowings availed. 
 

About Shree Tirupati Balajee

Shree Tirupati Balajee Agro Trading Company was incorporated on October 23, 2001. The company manufactures and sells flexible intermediate bulk containers (FIBCs), large flexible bags, and other industrial packaging products such as woven sacks, woven fabric, narrow fabric, and tapes in both the Indian domestic market and internationally.