Final Hours! Shree Tirupati Balajee IPO ends today; GMP up 72%; bid now?
Source: Business Standard
Available at a price band of Rs 78-83, and a lot size of 180 shares, Shree Tirupati Balajee has received bidding for 53,58,71,520 shares against 1,43,08,000 shares offered by the company, as per NSE data. Non-Institutional Investors (NIIs) were the leading bidders, who bid 82.28 times, followed by Retail Individual Investors (RIIs) at 36.90 times and Qualified Institutional Buyers (QIBs) at 4.80 times, as of 12:03 PM today, as per data available on the NSE.
Adding to the buzz, the grey market premium or GMP of Shree Tirupati Balajee has also skyrocketed to Rs 60, or 72.29 per cent from the upper end of the issue price, reflecting favorable market sentiment for the public issue as well as potential listing gains. Today’s GMP of Shree Tirupati Balajee is also significantly higher than Rs 35 quoted on September 5, when the issue opened for subscription, indicating a surge in demand for the public issue.
Shree Tirupati Balajee IPO details
Shree Tirupati Balajee aims to raise Rs 169.65 crore by offering a fresh issue of 14,750,000 shares and an offer for sale of 5,690,000 shares, each with a face value of Rs 10 apiece. Investors can bid for a minimum of 180 shares and in multiples thereof. The minimum amount required by a retail investor to apply for the Shree Tirupati Balajee IPO is Rs 14,940 for one lot of 180 shares.
Following the end of the subscription window of Shree Tirupati Balajee IPO, the company’s shares are likely to be allotted on Tuesday, September 10, 2024, while the company’s shares will be credited to demat accounts on Wednesday, September 11, 2024. Shree Tirupati Balajee shares are expected to make their debut on the bourses on Thursday, September 12, 2024, by listing on both BSE and NSE.
Shree Tirupati Balajee IPO review
About Shree Tirupati Balajee
The Company was originally incorporated as ‘Shree Tirupati Balajee Agro Trading Company Private Limited’, at Pithampur, Dhar, Madhya Pradesh, as a private limited company. Shree Tirupati Balajee is engaged in the business of manufacturing and selling Flexible Intermediate Bulk Containers (FIBCs), i.e., large flexible bags, and other industrial packaging products such as woven sacks, woven fabric, and narrow fabric, tapes in the Indian domestic market and overseas.
First Published: Sep 09 2024 | 12:38 PM IST
