Shree Tirupati Balajee IPO: GMP, subscription status to review. Apply or not as bidding ends on Monday?

  • Shree Tirupati Balajee IPO GMP: According to market observers, the company's shares are available at a premium of 36 per equity share in the grey market today

Asit Manohar
Updated7 Sep 2024, 12:56 PM IST
Shree Tirupati Balajee IPO subscription status: After two days of bidding, the public issue was subscribed 18.17 times.
Shree Tirupati Balajee IPO subscription status: After two days of bidding, the public issue was subscribed 18.17 times.(Photo: Courtesy company website)

Shree Tirupati Balajee IPO: The initial public offer (IPO) of Shree Tirupati Balajee Agro Trading Company Limited hit the Indian primary market on 5th September 2024, i.e. on Thursday last week. According to the Shree Tirupati Balajee IPO subscription status, the public issue received a strong response from investors in the first two days of bidding. Meanwhile, after a strong reaction by investors, the grey market has gone bullish on the book build issue. According to stock market observers, shares of the company are available at a premium of 36 in the grey market today.

Shree Tirupati Balajee IPO GMP today

As mentioned above, Shree Tirupati Balajee IPO GMP (grey market premium) today is 36, 10 higher than Friday's Shree Tirupati Balajee IPO GMP of 26. They said the rise in the grey market sentiment is positive as the secondary market bias has gone negative as the Nifty 50 index has slipped below the 25,000 mark. They said that the Indian stock market has been under selling pressure for the last three straight sessions. They said the grey market may further improve once there is a trend reversal on Dalal Street.

Shree Tirupati Balajee IPO subscription status

After two days of bidding, the public issue was subscribed 18.17 times, the retail portion of the book build issue was booked 21.42 times, the NII segment was filled 28.56 times, whereas the QIB portion was subscribed 4.69 times.

Infographic: Courtesy mintgenie

Shree Tirupati Balajee IPO review

Giving a 'subscribe' tag to the public issue, StoxBox says, "The current issue is priced at a P/E ratio of 14.5x on upper price band based on FY24 earnings, aligning well with its peers. Given the industry's promising growth trajectory and the company's strategic focus on capacity optimization, new product development, and expansion in domestic and global presence, we recommend a "SUBSCRIBE" rating for the issue with a medium to long-term investment perspective."

Assigning a 'buy' tag to the public offer, Master Capital Services said, “Growing demand over the years, especially from the chemicals, construction, and food agriculture sectors, has helped the FIBC sector reach healthy capacity utilization levels, resulting in players going for capacity expansion. Further, the FIBC industry grew at a CAGR of 1.8% during 2020-2023, owing to continuous innovations and process improvement across the value chain and steady traction due to continuous improvement in product quality. The company plans to take advantage of this situation by focusing on its core competencies and maximizing its capacity. The company also intends to develop a new product line following the market trends, using its vast product portfolio, and enhancing its technological capabilities to create a Global and Domestic presence. Investors can invest in the IPO for the medium to long term.”

Shree Tirupati Balajee IPO details

Bidding for the public issue ends on September 9th, 2024, which is Monday next week. In the wake of the 'T+3' listing rule, Shree Tirupati Balajee's IPO allotment date is most likely September 10th, 2024, and Shree Tirupati Balajee's IPO listing date is September 12th, 2024, which is Thursday next week.

Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.

Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

MoreLess
First Published:7 Sep 2024, 12:56 PM IST
Business NewsMarketsIPOShree Tirupati Balajee IPO: GMP, subscription status to review. Apply or not as bidding ends on Monday?

Most Active Stocks

Tata Steel share price

159.00
03:59 PM | 9 OCT 2024
-0.55 (-0.34%)

Indian Oil Corporation share price

164.75
03:58 PM | 9 OCT 2024
0.35 (0.21%)

Zee Entertainment Enterprises share price

128.90
03:58 PM | 9 OCT 2024
2.1 (1.66%)

Ashok Leyland share price

222.05
03:59 PM | 9 OCT 2024
-0.45 (-0.2%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

Divis Laboratories share price

5,972.90
03:29 PM | 9 OCT 2024
425.9 (7.68%)

Lloyds Metals & Energy share price

982.00
03:29 PM | 9 OCT 2024
52.2 (5.61%)

Cipla share price

1,681.05
03:48 PM | 9 OCT 2024
40.45 (2.47%)

Infosys share price

1,953.90
03:50 PM | 9 OCT 2024
5.4 (0.28%)
More from 52 Week High

Bank Of Maharashtra share price

54.79
03:56 PM | 9 OCT 2024
-2.22 (-3.89%)

Vodafone Idea share price

9.19
03:58 PM | 9 OCT 2024
-0.31 (-3.26%)

ITC share price

491.80
03:55 PM | 9 OCT 2024
-16.1 (-3.17%)

Tata Communications share price

1,950.15
03:52 PM | 9 OCT 2024
-54.95 (-2.74%)
More from Top Losers

Gujarat Ambuja Exports share price

142.45
03:59 PM | 9 OCT 2024
12 (9.2%)

RITES share price

324.60
03:56 PM | 9 OCT 2024
24 (7.98%)

Divis Laboratories share price

5,972.90
03:29 PM | 9 OCT 2024
425.9 (7.68%)

Torrent Power share price

1,935.20
03:52 PM | 9 OCT 2024
118.05 (6.5%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K
    Bangalore
    77,455.000.00
    Chennai
    77,461.000.00
    Delhi
    77,613.000.00
    Kolkata
    77,465.000.00

    Fuel Price

    • Petrol
    • Diesel
    Bangalore
    102.86/L0.00
    Chennai
    100.85/L0.10
    Kolkata
    104.95/L0.00
    New Delhi
    94.72/L0.00

    Popular in Markets

      HomeMarketsPremiumInstant LoanMint Shorts