Industrial packaging company Shri Tirupati Balaji Agro Trading has delivered good returns to investors through its recent IPO.
The company’s shares were listed on the stock market on Thursday after the IPO, which launched last week.
The shares started trading with a premium of over 8 percent, marking a successful debut for the company.
Listing Benefits for IPO Investors
Shri Tirupati Balaji Agro Trading’s stock was listed on the BSE at Rs 90 per share, which is 8.4 percent higher than the IPO’s upper price band of Rs 83.
This means that investors gained over 8 percent on their investment immediately after the listing.
On the NSE, the shares were listed at an even higher price of Rs 92.90, offering a premium of 11.93 percent.
Profit Per Lot for Investors
The IPO, which opened on September 5 and closed on September 9, raised Rs 169.65 crore. Each lot consisted of 180 shares, requiring an investment of at least Rs 14,940.
After listing at Rs 90 per share, the value of one lot increased to Rs 16,200, resulting in a profit of Rs 1,260 per lot for investors.
Company Overview and IPO Response
Shri Tirupati Balaji Agro Trading, established in 2001, manufactures various industrial packaging products, including bulk containers, woven sacks, and tapes.
The company operates through subsidiaries like Honorable Packaging Private Limited and Sri Tirupati Balaji FIBC Limited.
The company plans to use the IPO funds to repay old debts, invest in subsidiaries, and meet working capital needs.
The IPO was well-received, with a subscription rate of nearly 125 times.
It was subscribed 150.87 times in the QIB category, 210.12 times in the NII category, and 73.22 times in the retail category.
