Shree Tirupati Balajee is scheduled to hit the market on September 5, 2024 and close on September 9, 2024. Shree Tirupati Balajee plans to raise around ₹169.65 Cr through an IPO with a sale of up to 20,440,000 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.
Shree Tirupati Balajee Agro Trading Company Limited started in October 2001. The company makes and sells Flexible Intermediate Bulk Containers (FIBCs), which are large flexible bags, along with other industrial packaging products like woven sacks, woven fabric, narrow fabric, and tapes. They serve both the Indian market and international customers. Their products are customized to meet the bulk packaging needs of various industries, including chemicals, food, mining, agriculture, and lubricants.
The company has five manufacturing units, with Units I and II holding ISO 9001:2015 and ISO 14001:2018 certifications. Unit III is certified with multiple standards, including ISO 9001:2015 and ISO 45001:2018. Shree Tirupati Balajee operates through subsidiaries like Honourable Packaging Private Limited and Jagannath Plastics Private Limited. As of July 2024, the company employs 857 people across different departments.
Shree Tirupati Balajee IPO Details
Shree Tirupati Balajee IPO opens on September 5, 2024, and closes on September 9, 2024. The Listing date for Shree Tirupati Balajee IPO is on September 12, 2024. The price band for IPO is ₹78 to ₹83 per share and lot size of 180 Shares.
| IPO Date | September 5, 2024 to September 9, 2024 |
| Listing Date | September 12, 2024 |
| Price | ₹78 to ₹83 per share |
| Lot Size | 180 Shares |
| Issue Size | ₹169.65 Cr |
| Face Value | ₹10 per share |
Shree Tirupati Balajee IPO Tentative Timetable
Shree Tirupati Balajee opening date is September 5, 2024 and close date is September 9, 2024. The IPO allotment date is September 10, 2024. Therefund initiation of IPO is on September 11, 2024. The credit of shares in demat account is on September 11, 2024. The listing date is on September 12, 2024.
| Event | Date |
|---|---|
| IPO Opening | September 5, 2024 |
| IPO Closing | September 9, 2024 |
| IPO Allotment Date | September 10, 2024 |
| Refund Initiation | September 11, 2024 |
| Shares Credit to Demat | September 11, 2024 |
| Lisiting Date | September 12, 2024 |
Shree Tirupati Balajee IPO Lot Size
Lot Size of this IPO is 180 shares. A retail-individual investor can apply for up to 13 lots (2340 shares or ₹194,220).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 180 | ₹14,940 |
| Retail(Maximum) | 13 | 2340 | ₹194,220 |
| S-HNI (Minimum) | 14 | 2,520 | ₹209,160 |
| B-HNI (Minimum) | 67 | 12,060 | ₹1,000,980 |
Shree Tirupati Balajee IPO Promoter Holding
| Pre Issue Share Holding | 88.38% |
| Post Issue Share Holding |
Shree Tirupati Balajee IPO Review
Shree Tirupati Balajee is launching its first combo IPO, which includes 14,750,000 new equity shares valued at Rs. 122.42 crore at the highest price. Additionally, there will be an Offer for Sale (OFS) of 5,690,000 equity shares, worth Rs. 47.23 crore at the highest price.
On the financial performance front, for the last three fiscals, the company has (on a consolidated basis) posted a total income/net profit of Rs. 453.79 cr. / Rs. 13.66 cr. (FY22), Rs. 478.14 cr. / Rs. 20.72 cr. (FY23), and Rs. 552.82 cr. / Rs. 36.07 cr. (FY24).
For the last three fiscals, the company has posted an average EPS of Rs. 4.43 and an average RoNW of 19.16%. The issue is priced at a P/BV of 3.01 based on its NAV of Rs. 27.54 as of March 31, 2024, and at a P/BV of 2.29 based on its post-IPO NAV of Rs. 36.22 per share (at the upper cap).
If we attribute FY24 annualized earnings to its post-IPO fully diluted paid-up equity capital, then the asking price is at a P/E of 19.67. Based on FY23 earnings, the P/E stands at 32.68. Thus the issue is relatively fully priced.
The company reported PAT margins of 3.01% (FY22), 4.33% (FY23), 6.53% (FY24), and RoCE margins of 10.02%, 13.39%, 16.29% for the referred periods, respectively.
According to the offer document, the company has mentioned Commercial Syn Bags, Emmbi Industries, and Rishi Techtex as their peers. Their P/E ratios are 38.1, 22.6, and 34.4 as of September 2, 2024. However, these companies are not really similar enough to be compared directly.
The company makes and sells FIBCs (Flexible Intermediate Bulk Containers) and other industrial packaging products. It has shown consistent growth in both sales and profits over the past three financial years. Based on its earnings for FY24, the stock seems to be fairly priced. Smart investors might consider investing for the medium to long term.
Shree Tirupati Balajee IPO Subscription Status (Bidding Details)
Table not foundShree Tirupati Balajee IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
Shree Tirupati Balajee IPO FAQs
What is Shree Tirupati Balajee IPO?
Shree Tirupati Balajee is issuing 20,440,000 equity shares with a face value of ₹10 each, totaling up to ₹169.65 Cr. The shares are being offered at a price of ₹78 to ₹83 each, with a minimum order quantity of 180 shares.
Link Intime India Private Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Shree Tirupati Balajee IPO will open?
Shree Tirupati Balajee will open on September 5, 2024 for QIB, NII, and Retail Investors.
When Shree Tirupati Balajee IPO will end?
Shree Tirupati Balajee will end on September 9, 2024.
What is Shree Tirupati Balajee IPO Size?
Shree Tirupati Balajee IPO size is ₹169.65 Cr.
What is Shree Tirupati Balajee IPO Price Band?
Shree Tirupati Balajee price band is ₹78 to ₹83 per share.
What is the Shree Tirupati Balajee IPO Allotment Date?
Shree Tirupati Balajee allotment date is September 10, 2024.
What is the Shree Tirupati Balajee IPO Listing Date?
Shree Tirupati Balajee listing date is September 12, 2024. The IPO is to be listed on BSE and NSE.
How to Shree Tirupati Balajee IPO through Zerodha?
To apply for the IPO “Shree Tirupati Balajee” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Shree Tirupati Balajee IPO through Upstox?
To apply for the IPO “Shree Tirupati Balajee” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Shree Tirupati Balajee IPO Allotment Status?
For Shree Tirupati Balajee IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Shree Tirupati Balajee IPO GMP?
You can check out here: Shree Tirupati Balajee IPO GMP. Check all IPO GMP here