Shree Tirupati Balajee Agro Trading Company Limited (MAINBOARD)

Sep 5, 2024 - Sep 9, 2024

Premium	₹27
Price	₹78 - ₹83
Lot size	180
Allotment	Sep 10, 2024
Listing	Sep 12, 2024

Category	Lot(s)	Qty	Amount	Reserved
Retail	1	180	14940	39744
sHNI	14	2520	209160	406
bHNI	67	12060	1000980	811

Last updated on 09-Sep-2024 19:56:06

Category	Offered	Applied	Times
QIBs	4088000	616776120	150.87
HNIs	3066000	644234940	210.12
HNIs 10+	2044000	460865340	225.47
HNIs 2+	1022000	183369600	179.42
Retail	7154000	523840500	73.22
Total	14308000	1784851560	124.75

Application Wise Breakup (Approx)
Category	Reserved	Applied	Times
HNIs (10L+)	811	36675	45.22
HNIs (2-10L)	406	69450	171.06
Retail	39744	2634188	66.28
Total Applications: 2740313
© IPO Premium

Subscription Demand (in ₹ crore)
Category	Offered	Demand	Times
QIBs	33.93	5119.24	150.87
FIIs	-	921.46	-
DIIs	-	2214.21	-
Mutual funds	-	0.08	-
Others	-	1834.73	-
HNIs	25.45	5347.15	210.12
HNIs 10+	16.97	3825.18	225.47
HNIs 2+	8.48	1521.97	179.42
Retail	59.38	4347.88	73.22
Total	118.76	14814.27	124.75

QIB Interest Cost per share (7 Days)
@7% ₹16.81	@8% ₹19.21	@9% ₹21.61	@10% ₹24.02	@11% ₹26.42	@12% ₹28.82

About

Shree Tirupati Balajee IPO Details

Issue Size	20,440,000 shares (aggregating up to ₹169.65 Cr)
Fresh Issue	14,750,000 shares (aggregating up to ₹122.43 Cr)
Offer for Sale	5,690,000 shares of ₹10 (aggregating up to ₹47.23 Cr)
Issue Type	Book Built Issue IPO
Listing At	BSE, NSE
Share holding pre issue	66,820,852
Share holding post issue	81,570,852

Shree Tirupati Balajee IPO Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not more than 50.00% of the Offer
Retail Shares Offered	Not less than 35.00% of the Offer
NII (HNI) Shares Offered	Not less than 15.00% of the Net Issue

Key Performance Indicator

KPI	Mar-24	Mar-23	Mar-22
ROE	20.84%	18.80%	14.81%
ROCE	16.29%	13.39%	10.02%
RONW	5.74%	3.51%	2.31%
D/E	1.41	2.03	2.6
EPS (basic)	5.74	3.51	2.31
P/E Pre IPO	15.37
P/E Post IPO	18.77

Company Financials

Shree Tirupati Balajee Agro Trading Company Limited Financial Information (Restated Consolidated)

Shree Tirupati Balajee Agro Trading Company Limited's revenue increased by 16% and profit after tax (PAT) rose by 74% between the financial year ending with March 31, 2024 and March 31, 2023.

Period	Mar 2024	Mar 2023	Mar 2022
Assets	516.94	392.46	391.89
Revenue	552.82	478.14	453.79
Profit	36.07	20.72	13.66
Net Worth	173.07	110.21	92.23
Reserves	106.24	109.05
Borrowing	243.69	223.81	240.06
Amount in ₹ Crore

About Company

Established in October 2001, Shree Tirupati Balajee Agro Trading Company Limited is a prominent manufacturer and supplier of Flexible Intermediate Bulk Containers (FIBCs) and various industrial packaging products such as woven sacks, woven fabric, narrow fabric, and tapes. Catering to diverse industries including chemicals, agrochemicals, food, mining, waste disposal, agriculture, lubricants, and edible oil, the company offers tailored solutions to meet bulk packaging needs. It operates through subsidiaries—Honourable Packaging Private Limited (HPPL), Shree Tirupati Balajee FIBC Limited (STBFL), and Jagannath Plastics Private Limited (JPPL)—across five manufacturing units. Units I and II are certified with ISO 9001:2015 and ISO 14001:2018, while Unit III holds additional certifications including ISO 45001:2018, ISO 14064-1:2018, and SEDEX SMETA four-pillar. The company’s robust quality assurance is complemented by a workforce of 857 employees as of July 2024, emphasizing its commitment to quality and sustainable practices in the production of FIBC, woven sacks, and PP/HDPE fabrics.

Lead Manager(s)

Pnb Investment Services Ltd
Unistone Capital Pvt Ltd

Strength

Diverse Customer Base: A wide range of customers reduces dependency on any single market and enhances stability through varied revenue streams.

Cost-Effectiveness of FIBCs: Flexible Intermediate Bulk Containers (FIBCs) offer a low-cost solution for bulk handling, improving overall operational efficiency and profitability.

Multi-Product Portfolio: Offering a broad range of products allows the company to meet diverse customer needs and adapt to market changes, driving growth and resilience.

Weakness

Geographical Concentration: With all manufacturing facilities located in Pithampur, Madhya Pradesh, any disruption in this region could significantly impact operations and financial performance.

Regulatory Risks: Increasing regulations and potential bans on plastic products in India and other markets could adversely affect business and operational results.

Brand Misconception: The Company’s name might lead to confusion about its actual business focus, potentially deterring investors or affecting market perception.

Registrar

Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: shreetirupatibalajee.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html