Today is the second day of bidding for the Initial Public Offering (IPO) of Shri Tirupati Balaji Agro Trading Company Limited. On the first day, this IPO was subscribed a total of 6.53 times. The IPO was subscribed 8.24 times in the retail category, 4.46 times in the Qualified Institutional Buyers (QIB) and 5.29 times in the Non-Institutional Investors (NII) category. On September 12, the company's shares will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). Shri Tirupati Balaji Agro Trading Company wants to raise a total of ₹ 169.65 crore through this issue. For this, the company is issuing 14,750,000 fresh shares worth ₹ 122.43 crore. Whereas, the existing investors of the company are selling 5,690,000 shares worth ₹ 47.23 crore through Offer for Sale (OFS). If you are also planning to invest in it, then we are telling you how much you can invest in it. What is the minimum and maximum amount you can invest? Shri Tirupati Balaji Agro Trading Company has fixed the price band of the issue from ₹ 78 to ₹ 83. Retail investors can bid for at least one lot i.e. 180 shares. If you apply for 1 lot as per the upper price band of IPO of ₹ 83, then you will have to invest ₹ 14,940 for it. At the same time, retail investors can apply for a maximum of 13 lots i.e. 2340 shares. For this, investors will have to invest ₹ 194,220 as per the upper price band. 35% of the issue reserved for retail investors The company has reserved 50% of the issue for Qualified Institutional Buyers (QIB). Apart from this, 35% is reserved for retail investors and the remaining 15% is reserved for non-institutional investors (NII). Premium of Shri Tirupati Balaji Agro Trading Company in the gray market is 42.17% Before listing, the company's stock has reached a premium of 42.17% i.e. ₹ 35 per share in the gray market. In such a situation, according to the upper price band ₹ 83, its listing can be done at ₹ 118. However, this can only be estimated, the listing price of the share is different from the gray market price. Funds will be used to repay debt, invest in subsidiary companies, meet capital requirements and for general company operations. Shri Tirupati Balaji Agro Trading Company is engaged in the business of manufacturing and selling industrial packaging products such as large flexible bags and woven sacks, woven fabrics and tapes. What is an IPO? When a company issues its shares to the general public for the first time, it is called an Initial Public Offering or IPO. The company needs money to expand its business. In such a situation, instead of taking a loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this, the company brings an IPO.
Graphics Source: VaskarAssets
Shri Tirupati Balaji-Agro IPO subscribed 6.53 times on the first day: Retail category subscribed 8.24 times, today is the second day of bidding
