Shree Tirupati Balajee IPO subscribed 68.98 times on Day 3 on robust NII demand. Check GMP, issue details

Shree Tirupati Balajee Agro Trading Company Limited's initial public offering (IPO), through a book-building process, opened for subscription on Thursday, September 5, and ended on Monday, September 9. The public offer was oversubscribed 68.98 times on the final day. Investors bid for 98.70 crore shares compared to the 1.43 crore shares available.

The IPO shares of Shree Tirupati Balajee Agro Trading Company Limited are priced between Rs. 78 and Rs. 83 per equity share, with a face value of ₹10 per share. Investors can bid for at least 180 shares, and multiple shares are available for bidding.

The non-institutional investors (NIIs) subscribed to the public issue the most, 107.85 times their allotted portion on the final day. The non-institutional investors (NIIs) were followed by the qualified institutional buyers (QIBs), who subscribed to the IPO 90.09 times on top of their allotted portion. The retail investors subscribed to the IPO 40.27 times on the final day, according to the National Stock Exchange (NSE) IPO data.

Shree Tirupati Balajee IPO GMP today

As of September 9, Shree Tirupati Balajee IPO's grey market premium (GMP) is ₹50. Grey market premium (GMP) is the investor's willingness to pay more on top of the issue price.

The company's price band is at the upper level of ₹83, and Shree Tirupati Balajee IPO's estimated listing price is ₹133, according to investorgain.com. The public issue is expected to list at a gain of 60.24 per cent.

Shree Tirupati Balajee IPO details 

Shree Tirupati Balajee Agro Trading Company Limited deals with the manufacturing and selling of flexible intermediate bulk containers (FIBCs) or large flexible bags and other industrial packaging products such as woven bags, woven and narrow fabrics and tapes in the Indian domestic and overseas markets. The company deals in sectors like chemical, agrochemical, food, mining, waste management, agriculture, lubricants and edible oil.

The company's public offer comprised a fresh issue of up to 1.47 crore or 1,47,50,000 equity shares, an offer for sale (OFS) for up to 56.9 lakh or 56,90,000 equity shares, and an anchor round allocation for 61.32 lakh or 61,32,000 equity shares, as per the exchange data.