Shree Tirupati Balajee Agro Trading Company Limited Set to Launch IPO on September 5, 2024

Shree Tirupati Balajee Agro Trading Company Limited plans to open its IPO on September 5, 2024, aiming to raise Rs 169.65 Crores. The funds will be utilized for loan repayments, working capital needs, and corporate purposes. Shares will be listed on the BSE and NSE platforms.

Shree Tirupati Balajee Agro Trading Company Limited is set to open its Initial Public Offering (IPO) on September 5, 2024, aiming to raise Rs 169.65 Crores. The funds garnered will be used for settling certain outstanding borrowings, meeting additional working capital requirements, and addressing general corporate purposes.

The IPO consists of up to 2,04,40,000 shares, including 1,47,50,000 Fresh Issue equity shares and 56,90,000 Offer for Sale equity shares. The shares, priced with a face value of Rs 10 each, will be listed on both BSE and NSE platforms. The anchor portion bidding will commence on September 4, 2024, while the issue closes on September 9, 2024.

Binod Kumar Agarwal, Chairman & Managing Director, highlighted the IPO as a crucial milestone for the company, which operates from five manufacturing units and has a global reach across 38 countries. The IPO will bolster brand value, enhance operational efficiency, and secure long-term success. The effort is supported by lead managers PNB Investment Services Limited and Unistone Capital Private Limited, with Link Intime India Private Limited acting as the registrar.

(With inputs from agencies.)