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- By Aditya Pratap Singh
- Fri, 06 Sep 2024 07:39 PM (IST)
- Source:JND
Balajee Agro Trading IPO Subscription Status: The initial public offering (IPO) of Sri Tirupati Balajee Agro Trading Company was subscribed 18.16 times on the second day of subscription on Friday. As per the data provided by the National Stock Exchange (NSE), 1,43,08,000 shares were offered while 25,98,48,180 shares were subscribed.
The quota of non-institutional investors witnessed a subscription of 28.56 times while the retail individual investor (RII) category received a subscription of 21.40 times. The Qualified Institutional Buyers (QIB) category was subscribed 4.69 times.
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The IPO of Sri Tirupati Balajee Agro Trading Company was subscribed 6.36 times on the first day of bidding on Thursday.
The initial public offering (IPO) will close on September 9th. Sri Tirupati Balaji Agro Trading Company Limited has fixed a price band of Rs 78-83 per share for its initial share sale.
The IPO consists of a fresh issue of 14.7 million equity shares and an offer for sale (OFS) of up to 56.90 lakh equity shares of Vinod Kumar Agarwal.
The proceeds from the fresh issue will be used to repay debt, invest in subsidiaries, support capital requirements, and for general corporate purposes.
Sri Tirupati Balaji Agro Trading Company is engaged in the business of manufacturing and selling flexible intermediate bulk containers (FIBC) such as woven sacks, woven fabrics, and large flexible bags including narrow fabrics, tapes, and other industrial packaging materials in the Indian domestic market and overseas markets.
The company provides and supplies bulk packaging solutions to its clients for various industries such as chemicals, agrochemicals, food mines, waste disposal plants, agro-industries, lubricants, and edible oils by supplying FIBC products for transportation purposes and their packaging requirements.
(With PTI's Input)