IPO Details

Bidding Dates

05 Sep '24 - 09 Sep '24

Minimum Investment

₹14,940/ 1 Lot ( 180 Shares )

Price Range

₹78 - ₹83

Maximum Investment

₹194,220/ 13 Lots ( 2340 Shares )

Retail Discount

To be announced

Issue Size

₹169.65 Cr

Investor category and sub category

RIIs  |   NIIs  |   QIBs  |   Eligible employees  |  

IPO Dates

Important dates with respect to IPO allotment and listing

Opening Date

Sep 5, 2024

Closing Date

Sep 9, 2024

Allotment Date

Sep 10, 2024

Initiation of Refunds

Sep 11, 2024

Credit of Shares to Demat

Sep 11, 2024

Listing Date

Sep 12, 2024

Cut-off time for UPI mandate confirmation

Sep 9, 2024

About Shree Tirupati Balajee Agro Trading Company Ltd

Shree Tirupati Balajee Agro Trading Company Ltd specialises in the manufacturing and supply of Flexible Intermediate Bulk Containers (FIBC), also known as Jumbo Bags.

Their product range includes various types of FIBC bags, such as Type D static dissipative bags, Type C conductive bags, UN Certified bags for hazardous goods transportation, food-grade bags, and more. These bags are designed to handle loads ranging from 500 kg to 2,500 kg and are crucial in industries like construction, agriculture, and chemicals, among others.

The company operates two business divisions: Domestic Sales and Exports. Domestically, it has a presence across multiple Indian states, including Telangana, Maharashtra, and Uttar Pradesh, reflecting a wide national footprint based on sales data from the current and previous financial years.

Internationally, Shree Tirupati Balajee Agro Trading is a significant exporter from India, reaching over 38 countries across six continents. Key export markets include Australia, the USA, Canada, and European countries like Sweden and Germany.

Industry Outlook

  1. India dominates FIBC exports, accounting for 70% in 2022, fueled by government policies and global trade, with growing industrialisation increasing demand for efficient storage and transportation solutions.
  2. Nearly 85% of India’s FIBC production is exported to 65 countries, with the market expected to expand significantly from 2020 to 2030 due to rising domestic and international demand.

Shree Tirupati Balajee IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. Repayment and/or prepayment of some outstanding borrowings by the Company and its subsidiaries, Honourable Packaging Private Limited, Shree Tirupati Balajee FIBC Ltd., and Jagannath Plastics Pvt. Ltd.
  2. Funding the incremental working capital requirements of the Company.
  3. General corporate purposes.

Peer Details

The companies considered by Shree Tirupati Balajee Agro Trading Company as its peers include:

  1. Commercial Syn Bags Limited
  2. Emmbi Industries Limited
  3. Rishi Techtex Limited

How To Check the Allotment Status of the Shree Tirupati Balajee IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app.
  • Go to the individual order details page of the IPO that you had applied for.
  • Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.

Contact Details of Shree Tirupati Balajee Agro Trading Company Ltd

Registered office: Plot No.192, Sector 1, Pithampur, Dhar, Madhya Pradesh-454775, India

Phone: 0731-4217400

E-mail: info@tirupatibalajee.net

IPO Financials

Particulars Year ending on March 31, 2024 Year ending on March 31, 2023 Year ending on March 31, 2022
Revenue from operations (in ₹ lakh) 53,966.08 47,543.33 44,418.05
Total Income (in ₹ lakh) 55,282.11 47,813.65 45,378.77
Profit After Tax (PAT) (in ₹ lakh) 3,607.27 2,071.80 1,365.90
Cash & Cash Equivalents (in ₹ lakh) 30.67 508.62 873.25
Net Worth (in ₹ lakh) 17,306.50 11,021.19 9,222.97
Debt to Equity Ratio(x) 1.41 1.98 2.51
Return on Capital Employed (RoCE) (%) 16.29 13.39 10.02
Total Borrowings (in ₹ lakh) 24,368.72 22,380.73 24,005.52

Know before investing

Strengths

4

  1. Shree Tirupati Balajee Agro Trading Company caters to various industries, such as chemicals, agriculture, and food. Its broad FIBC product line ensures stable and visible future revenue streams.

  2. Their state-of-the-art manufacturing facilities are ideally located near Mumbai with excellent connectivity to major ports and highways, enhancing distribution efficiency and reducing costs.

  3. The company holds ISO 9001:2015 and ISO 22000:2018 certifications, with rigorous quality controls at every production stage, ensuring high standards and client satisfaction.

  4. With an installed capacity of approximately 2,300 Mt/month and nearly full utilisation at 2,200 Mt/month, the company demonstrates strong operational efficiency and growth potential.

Risks

4

  1. As of September 30, 2023, Shree Tirupati Balajee Agro Trading Company Limited faces contingent liabilities, including substantial corporate guarantees and tax demands that, if materialised, could significantly impact the company's financial health.

  2. Failure to meet quality standards or adapt to technological changes could harm the company's reputation and financial performance.

  3. The company is vulnerable to fluctuations in foreign exchange rates, particularly between the Indian Rupee and the USD, which have historically affected its cash flows and financial results. Such fluctuations could lead to financial losses, impacting overall profitability.

  4. Increasing global and national scrutiny on plastic use poses a substantial threat. With many economies, including India, moving to restrict or ban plastic products.

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Shree Tirupati Balajee Agro Trading Company IPO (Shree Tirupati Balajee IPO) FAQs

What is Shree Tirupati Balajee Agro Trading Company IPO?

Shree Tirupati Balajee IPO is a book-built issue IPO that will be open from September 5, 2024 to September 9, 2024.

When will Shree Tirupati Balajee IPO be allotted?

The Basis of Allotment will happen on Tuesday, September 10, 2024.

When will Shree Tirupati Balajee IPO open for subscription?

The IPO subscription window will open on September 5, 2024.

What minimum lot size can retail investors subscribe to?

The minimum lot size for retail investors is 1 lot of 180 shares.

When will Shree Tirupati Balajee Agro Trading Company Ltd list on exchanges?

The listing date for Shree Tirupati Balajee’s IPO  is Thursday, September 12, 2024.

How do I check the allotment status of the Shree Tirupati Balajee IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the individual order details page of the IPO that you had applied for. 
  • Check the IPO allotment status as such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.

What would be the listing gains on the Shree Tirupati Balajee Agro Trading Company IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange. The exact date is not announced yet.

I have finished the application process for the Shree Tirupati Balajee Agro Trading Company IPO, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.

How do I approve the UPI mandate request for Shree Tirupati Balajee Agro Trading Company IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Shree Tirupati Balajee Agro Trading Company Ltd using one PAN?

You can submit only one application using your PAN card.