Shree Tirupati Balajee Agro IPO Sees Massive Demand on First Day

Shree Tirupati Balajee Agro Trading Company's initial public offering (IPO) was subscribed 6.36 times on its opening day. The nearly Rs 170-crore share sale received bids for 9.09 crore shares against an offer of 1.43 crore shares. The IPO concludes on September 9, 2023.

On its opening day, Shree Tirupati Balajee Agro Trading Company's initial public offering (IPO) garnered overwhelming investor interest, being subscribed 6.36 times. According to NSE data, the nearly Rs 170-crore IPO attracted bids for 9.09 crore shares against the 1.43 crore shares available.

Retail Individual Investors (RIIs) showed the highest enthusiasm, with a subscription rate of 7.92 times, while non-institutional investors subscribed at 5.25 times. Qualified Institutional Buyers (QIBs) subscribed to 4.46 times the offered shares. The IPO is set to conclude on September 9.

Shree Tirupati Balajee Agro Trading Company Ltd has set a price range of Rs 78-83 per share. The offering includes a fresh issue of 1.47 crore equity shares and an Offer for Sale (OFS) of up to 56.90 lakh equity shares by Binod Kumar Agarwal. The proceeds will be used for debt repayment, subsidiary investments, capital support, and general corporate purposes.

(With inputs from agencies.)