• Source:JND
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Balajee Agro Trading IPO Listing:  Shares of Sri Tirupati Balajee Agro Trading Company Ltd were listed at a premium of approximately 10% against the issue price of Rs 83 per share. On the NSE, the stock was listed at Rs 90, reflecting an Rs 7 gain over the issue price. It later climbed surged 94.50, up 13.86 percent to Rs 90 on to hit the upper circuit. On NSE, the company's shares were listed at Rs 92.90 at around 11% premium, later the stock surged to Rs 97.54, up 17.5 against the issue price.

At around, 12:27 pm, the stock had only buy orders in waiting for sellers. 

The firm has a market capitalization of Rs 795.64 crore. The initial share offering of Sri Tirupati Balajee Agro Trading Company was subscribed 124.74 times on the final day of bidding on Monday.
The initial public offering (IPO) of approximately Rs 170 crore had a price range of Rs 78-83.

The IPO had fresh 14.7 million equity shares and an offer for sale (OFS) of 56.90 lakh equity shares from Vinod Kumar Agarwal.

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The proceeds from the new issue will be utilized to pay off debt, invest in subsidiaries, support capital requirements, and for general corporate objectives.

Sri Tirupati Balajee Agro Trading Company is in the business of producing and marketing flexible intermediate bulk containers (FIBCs) like woven sacks, woven fabrics, and large flexible bags, including narrow fabrics, tapes, and other industrial packaging materials, in the Indian domestic and international markets.

The firm provides and delivers bulk packaging solutions to its customers from different sectors like chemicals, agrochemicals, food mines, waste disposal plants, agro-industries, lubricants, and edible oils by supplying FIBC products for transportation purposes and their packaging needs.

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