The Shree Tirupati Balajee IPO, a highly anticipated public offering, is currently in its final days of subscription. The IPO, which opened for public subscription on September 5, 2024, will close on September 9, 2024. Here’s a look at how the IPO is performing and what investors can expect.
Here’s a breakdown of the IPO subscriptions:
- Non-institutional investors have shown the most interest, with their portion being oversubscribed by 58.16 times.
- Retail individual investors (RIIs) have subscribed 30.24 times.
- Qualified institutional buyers (QIBs) have contributed to the subscription with a 4.71 times oversubscription.
The IPO opened for public subscription on September 5 and is set to close today. The allotment of shares is expected to be finalized on September 10, with the shares likely to be listed on the BSE and NSE on September 12.
Market observers report that Shree Tirupati Balajee’s unlisted shares are currently trading Rs 40 higher than the issue price in the grey market. This translates to a grey market premium (GMP) of 48.19%, suggesting that investors expect a significant gain once the shares are listed. The GMP reflects how much more investors are willing to pay compared to the issue price and can vary based on market conditions.
Founded in October 2001, Shree Tirupati Balajee Agro Trading Company Ltd specializes in manufacturing and selling flexible intermediate bulk containers (FIBCs). These are large flexible bags used for various industrial purposes. The company also produces other packaging products such as woven sacks, woven fabric, narrow fabric, and tapes. Its products are available both in the Indian market and overseas.
For those interested in participating in the IPO, here are some key details:
- The IPO’s price band is set between Rs 78 and Rs 83 per share.
- You must apply for at least 180 shares.
- For retail investors, the minimum investment required is Rs 14,940.
- Small and medium-sized non-institutional investors (sNIIs) need to invest in at least 14 lots, totaling 2,520 shares, amounting to Rs 2,09,160.
- Big non-institutional investors (bNIIs) are required to invest in a minimum of 67 lots, which amounts to 12,060 shares and a total of Rs 10,00,980.
The Shree Tirupati Balajee IPO has garnered impressive interest from investors, with strong subscription numbers and a positive GMP indicating a potentially successful listing. Investors should keep an eye on the final allotment and listing dates to see how the IPO performs once it starts trading on the stock exchanges.
