Shree Tirupati Balajee IPO Overview

Shree Tirupati Balajee IPO is a book-built issue with a total size of ₹169.65 crores. The IPO comprises a fresh issue of 1.48 crore shares, raising ₹122.43 crores, and an offer for sale (OFS) of 0.57 crore shares, totalling ₹47.23 crores.

The subscription window for Shree Tirupati Balajee IPO opens on September 5, 2024, and closes on September 9, 2024. Investors can expect the allotment to be finalized by September 10, 2024. The shares are scheduled to be listed on the BSE and NSE on September 12, 2024.

The IPO price band is set between ₹78 and ₹83 per share. The minimum lot size for retail investors is 180 shares, requiring a minimum investment of ₹14,940. For sNII investors, the minimum lot size is 14 lots (2,520 shares), amounting to ₹209,160. For bNII investors, the minimum lot size is 67 lots (12,060 shares), with an investment of ₹1,000,980.

Pnb Investment Services Ltd and Unistone Capital Pvt Ltd are serving as the book-running lead managers for this IPO, with Link Intime India Private Ltd acting as the registrar.

For more comprehensive details, investors should refer to the Shree Tirupati Balajee IPO Red Herring Prospectus (RHP).

Shree Tirupati Balajee IPO Important dates

Shree Tirupati Balajee IPO opens on September 5, 2024, and closes on September 9, 2024.

IPO Open Date Thursday, September 5, 2024
IPO Close Date Monday, September 9, 2024
Basis of Allotment Tuesday, September 10, 2024
Initiation of Refunds Wednesday, September 11, 2024
The credit of Shares to Demat Wednesday, September 11, 2024
Listing Date Thursday, September 12, 2024
Cut-off time for UPI mandate confirmation 5 PM on September 9, 2024

Shree Tirupati Balajee IPO Financial Performance

Shree Tirupati Balajee Agro Trading Company Limited’s revenue increased by 16% and profit after tax (PAT) rose by 74% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended 31 Mar 2024 31 Mar 2023 31 Mar 2022
Assets ₹516.94 Crore ₹392.46 Crore ₹391.89 Crore
Revenue ₹552.82 Crore ₹478.14 Crore ₹453.79 Crore
Profit After Tax ₹36.07 Crore ₹20.72 Crore ₹13.66 Crore
Net Worth ₹173.07 Crore ₹110.21 Crore ₹92.23 Crore
Reserves and Surplus ₹106.24 Crore ₹109.05 Crore N/A
Total Borrowing ₹243.69 Crore ₹223.81 Crore ₹240.06 Crore

Shree Tirupati Balajee IPO Key Performance Indicator

The market capitalization of Shree Tirupati Balajee IPO is Rs 677.04 Cr.

KPI as of March 31, 2024.

KPI Values
ROE 20.84%
ROCE 16.29%
Debt/Equity 1.41
RoNW 20.84%
P/BV 3.01
PAT Margin (%) 6.53

 

Pre IPO Post IPO
EPS (Rs)  5.4 4.42
P/E (x)  15.37 18.77

Note:

  • The Pre IPO EPS is calculated based on pre-issue shareholding as of the date of RHP and the latest FY earnings as of March 31, 2024, that is available in RHP.
  • The post-issue EPS is calculated based on the post-issue shareholding and annualized FY earnings of March 31, 2024, that are available in RHP.

Shree Tirupati Balajee IPO Objectives

The company intend to utilize the net proceeds of the Fresh Issue to meet the following objectives:

  1. Repayment and/or prepayment, in part or full, of certain of the outstanding borrowings availed by the Company.
  2. Investment in the subsidiaries HPPL, STBFL and JPPL for Repayment and/or prepayment, in part or whole, of certain outstanding borrowings availed
  3. Funding the incremental working capital requirements of the company;
  4. Investment in the subsidiaries HPPL, STBFL and JPPL for funding working capital requirements and
  5. General corporate purposes.

Shree Tirupati Balajee IPO Lot Size

Investors can bid for a minimum of 180 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 180 ₹14,940
Retail (Max) 13 2340 ₹194,220
S-HNI (Min) 14 2,520 ₹209,160
S-HNI (Max) 66 11,880 ₹986,040
B-HNI (Min) 67 12,060 ₹1,000,980

Shree Tirupati Balajee IPO Reservation

Investor Category Shares Offered
QIB Shares Offered Not more than 50.00% of the Offer
Retail Shares Offered Not less than 35.00% of the Offer
NII (HNI) Shares Offered Not less than 15.00% of the Net Issue

Shree Tirupati Balajee IPO Promoter Holding

The promoter of the company is Binod Kumar Agarwal.

Share Holding Pre-Issue 88.38%
Share Holding Post Issue 65.42%

Shree Tirupati Balajee IPO Details

IPO Date September 5, 2024 to September 9, 2024
Listing Date [.]
Face Value ₹10 per share
Price Band ₹78 to ₹83 per share
Lot Size 180 Shares
Total Issue Size 20,440,000 shares
(aggregating up to ₹169.65 Cr)
Fresh Issue 14,750,000 shares
(aggregating up to ₹122.43 Cr)
Offer for Sale 5,690,000 shares of ₹10
(aggregating up to ₹47.23 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE
Shareholding pre-issue 66,820,852
Shareholding post-issue 81,570,852

About Shree Tirupati Balajee Agro Trading Company Limited

Overview of Shree Tirupati Balajee Agro Trading Company Limited

Founded in October 2001, Shree Tirupati Balajee Agro Trading Company Limited is a prominent manufacturer and seller of Flexible Intermediate Bulk Containers (FIBCs) and other industrial packaging products. These products include woven sacks, woven fabric, narrow fabric, and tapes, which are distributed both in the Indian domestic market and internationally.

Customized Solutions for Diverse Industries

Shree Tirupati Balajee specializes in offering customized bulk packaging solutions, catering to a wide range of industries. Their clientele spans sectors such as chemicals, agrochemicals, food, mining, waste disposal, agriculture, lubricants, and edible oil, highlighting their versatility and expertise in meeting various industrial needs.

Subsidiaries and Operations

The company operates through its subsidiaries, including Honourable Packaging Private Limited (HPPL), Shree Tirupati Balajee FIBC Limited (STBFL), and Jagannath Plastics Private Limited (JPPL). These subsidiaries enhance the company’s capabilities and market reach, ensuring a comprehensive range of products and services.

Manufacturing Excellence and Certifications

Shree Tirupati Balajee operates five state-of-the-art manufacturing units. Units I and II boast ISO 9001:2015 and ISO 14001:2018 certifications, ensuring high-quality and environmentally responsible production processes. Unit III stands out with multiple certifications, including ISO 9001:2015, ISO 45001:2018, ISO 14001:2015, ISO 14064-1:2018, and the SEDEX SMETA four-pillar certification. These certifications validate the company’s commitment to quality, safety, and sustainability in producing FIBCs, woven sacks, and fabrics made of polypropylene (PP) and high-density polyethene (HDPE).

Workforce and Growth

As of July 2024, Shree Tirupati Balajee Agro Trading Company Limited employs 857 dedicated department employees, driving the company’s growth and maintaining its position as a leader in the industrial packaging sector.

Shree Tirupati Balajee IPO SWOT Analysis

Strengths

  1. Established Market Presence: With over two decades of experience, Shree Tirupati Balajee Agro Trading Company Limited has built a strong market presence in the industrial packaging sector, both domestically and internationally.
  2. Diverse Product Portfolio: The company’s extensive range of products, including FIBCs, woven sacks, narrow fabrics, and tapes, allows it to cater to various industries such as chemicals, agrochemicals, food, mining, and agriculture.
  3. Customizable Solutions: The ability to offer customized packaging solutions to meet specific client needs enhances customer satisfaction and loyalty, giving the company a competitive edge.
  4. Strong Certifications: The company’s manufacturing units hold multiple certifications, including ISO 9001:2015, ISO 14001:2018, and SEDEX SMETA, ensuring high standards of quality, safety, and environmental responsibility.
  5. Subsidiary Support: With subsidiaries like HPPL, STBFL, and JPPL, the company strengthens its operational capabilities and market reach.

Weaknesses

  1. Dependence on Key Industries: A significant portion of the company’s revenue is tied to specific industries like chemicals and agrochemicals. Any downturn in these sectors could impact the company’s financial performance.
  2. High Operational Costs: Maintaining multiple certifications and complying with stringent industry standards can lead to higher operational costs, which may affect profit margins.
  3. Limited Market Diversification: While the company serves various industries, its geographical market is primarily focused on India, with limited penetration into other global markets.

Opportunities

  1. Expansion into New Markets: There is significant potential for Shree Tirupati Balajee to expand its footprint in emerging markets, especially in Asia and Africa, where industrial packaging demand is growing.
  2. Increased Demand for Sustainable Packaging: With a global shift towards sustainability, the company can capitalize on the growing demand for eco-friendly packaging solutions.
  3. Technological Advancements: Investing in new technologies and automation can improve operational efficiency, reduce costs, and enhance product offerings.
  4. Strategic Partnerships: Forming strategic alliances with international firms could open up new avenues for growth and market expansion.

Threats

  1. Intense Competition: The industrial packaging sector is highly competitive, with many established players and new entrants. This could lead to pricing pressures and reduced market share.
  2. Regulatory Changes: Changes in environmental regulations and compliance standards could increase operational costs and require additional investments in upgrading facilities.
  3. Economic Fluctuations: The company’s performance is closely tied to the economic health of the industries it serves. Economic downturns or slowdowns could negatively impact demand for its products.
  4. Raw Material Price Volatility: Fluctuations in the prices of key raw materials, such as polypropylene (PP) and high-density polyethene (HDPE), could affect the company’s profitability.

Shree Tirupati Balajee IPO GMP Details

Shree Tirupati Balajee IPO’s last GMP is ₹30, last updated Sep 5th 2024. With a price band of 83.00, Shree Tirupati Balajee IPO’s estimated listing price is ₹113 (cap price + today’s GMP). The expected percentage gain/loss per share is 36.14%.

IPO GMP points upward and expects a strong listing. The lowest GMP is ₹8, while the highest GMP is ₹30. Stay with us to know the daily price trend of Shree Tirupati Balajee IPO GMP with an expected listing price.

GMP Date IPO Price GMP Sub2 Sauda Rate Estimated Listing Price Last Updated
05-09-2024 Open 83.00 ₹30   4100/57400 ₹113 (36.14%) 5-Sep-2024
04-09-2024 83.00 ₹25   3400/47600 ₹108 (30.12%) 4-Sep-2024
03-09-2024 83.00 ₹16   2200/30800 ₹99 (19.28%) 3-Sep-2024
02-09-2024 83.00 ₹8  1100/15400 ₹91 (9.64%) 2-Sep-2024

Shree Tirupati Balajee IPO subscription status 

Shree Tirupati Balajee IPO subscribed 1.54 times. The public issue subscribed 2.77 times in the retail category, 0.00 times in QIB, and 0.74 times in the NII category by September 5, 2024.

Investor Category Subscription (times) Shares Offered* Shares bid for Total Amount (Rs Cr.)*
Anchor Investors 1 61,32,000 61,32,000 50.896
Qualified Institutions 0.00 40,88,000 0 0
Non-Institutional Buyers 0.74 30,66,000 22,59,900 18.757
  bNII (bids above ₹10L) 0.48 20,44,000 9,90,540 8.221
  sNII (bids below ₹10L) 1.24 10,22,000 12,69,360 10.536
Retail Investors 2.77 71,54,000 1,98,07,200 164.400
Total ** 1.54 1,43,08,000 2,20,67,100 183.157

Total Application: 84,343

Note:

  • *: “Shares Offered” and “Total Amount” are calculated based on the upper price of the issue price range.

  • **: The portion of anchor investors (or market makers) is not included in the total number of shares offered.

Date QIB NII Retail Total
Day 1
Sep 5, 2024		 0.00 0.74 2.77 1.54

Shree Tirupati Balajee IPO Allotment status 

The allotment status of Shree Tirupati Balajee IPO is expected to be available on September 10, 2024.

Shree Tirupati Balajee’s IPO allotment status is not available at this time. Shree Tirupati Balajee IPO – The allotment status will be available once the basis of allotment is finalized. Please revisit us to check the latest updates for Shree Tirupati Balajee Agro Trading Company Limited’s IPO allotment status.

To check Shree Tirupati Balajee’s IPO allotment status, follow the steps below:

  1. Click on the below allotment status check button.
  2. Select Company Name.
  3. Enter your PAN Number, Application Number or DP Client ID (Anyone).
  4. Click on Search.

On securing the allotment, you will receive the credit of equivalent shares in your Demat account.

If you have any concerns or queries about the allotment status, contact Link Intime India Private Ltd either by phone or email. Investors can call on +91-22-4918 6270 or send an email with all relevant details to shreetirupatibalajee.ipo@linkintime.co.in.

Shree Tirupati Balajee Agro Trading Company Limited Contact Details

Shree Tirupati Balajee Agro Trading Company Limited
Plot No.192, Sector 1
Pithampur
Dhar – 454775
Phone: +917314217400
Email: info@tirupatibalajee.net
Website: https://www.tirupatibalajee.net/

Shree Tirupati Balajee IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: shreetirupatibalajee.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html

Shree Tirupati Balajee IPO Prospectus

Shree Tirupati Balajee IPO Lead Manager(s)

  1. Pnb Investment Services Ltd
  2. Unistone Capital Pvt Ltd

Lead Manager Reports

  • IPO Lead Manager Performance Summary
  • IPO Lead Manager Performance Tracker

 Here is the list of Upcoming SME IPO in August 2024 

 

Disclaimer: Investing in Initial Public Offerings (IPOs) involves substantial risk, and financial returns are not guaranteed. The information provided should not be construed as financial or investment advice. Prospective investors are advised to consider their financial situation, investment objectives, and risk tolerance before participating in an IPO. It is recommended to consult with a qualified financial advisor or professional before making any investment decisions. Past performance is not indicative of future results. Investments in IPOs may be subject to market risk, including the potential loss of principal.