Shree Tirupati Balajee IPO Subscription Status

Shree Tirupati Balajee's initial public offering (IPO) has garnered significant investor interest, with subscription rates climbing steadily over the three-day period. Starting strongly on day one, the IPO witnessed a surge in demand, resulting in an impressive 30.46 times oversubscription by the close of day three. This strong response underscores the robust market appetite for Shree Tirupati Balajee's shares and sets the stage for a potentially dynamic listing.

The IPO, which opened on 5th September 2024, has seen increasing investor participation across all categories. The Non-Institutional Investors (NII) segment, in particular, has shown exceptional demand, while the Retail and Qualified Institutional Buyers (QIB) categories have also demonstrated solid interest.

This enthusiastic response to Shree Tirupati Balajee IPO comes amid positive sentiment in the Indian stock market, particularly towards companies in the industrial packaging sector. The company's comprehensive range of Flexible Intermediate Bulk Containers (FIBCs) and other industrial packaging products appears to have resonated well with investors looking for exposure to India's growing manufacturing and packaging industry.

Subscription Status of Shree Tirupati Balajee IPO for Days 1, 2, and 3:

On day 1, Shree Tirupati Balajee IPO was subscribed 6.53 times. By the end of day 2, the subscription status had risen to 18.34 times; on day 3, it reached 30.46 times.

Here are the subscription details for Shree Tirupati Balajee IPO as of Day 3 (September 9, 2024, at 11:19:09 AM):

Total Applications: 1,220,470

Note:

• "Shares Offered" and "Total Amount" are calculated based on the upper price of the issue price range. 
• ** The portion of anchor investors is not included in the total number of shares offered.

Key Highlights:

• The IPO of Shree Tirupati Balajee is currently subscribed 30.46 times, with strong demand across investor categories.
• Non-Institutional Investors (NII) have shown exceptional interest, with a subscription ratio of 61.78 times.
• Retail investors have demonstrated strong enthusiasm, with a subscription ratio of 31.74 times.
• Qualified Institutional Buyers (QIB) have shown moderate interest, with a subscription ratio of 4.71 times.
• The overall subscription trend significantly increases day-on-day, indicating high investor confidence and positive sentiment towards the issue.

Shree Tirupati Balajee IPO - Day 2 Subscription at 18.34 Times

Key Highlights:

• On Day 2, Shree Tirupati Balajee's IPO was subscribed 18.34 times, with strong demand from Non-Institutional Investors (NII).
• NII showed significantly increased interest with a subscription ratio of 28.64 times, more than quintupling their subscription from the previous day.
• Retail investors showed increased interest with a subscription ratio of 21.73 times, more than doubling their subscription from the previous day.
• Qualified Institutional Buyers (QIB) showed slightly increased interest with a subscription ratio of 4.69 times.
• The overall subscription trend indicated building momentum, with all investor categories showing increased participation.

Shree Tirupati Balajee IPO - Day 1 Subscription at 6.53 Times

Key Highlights:

• The IPO of Shree Tirupati Balajee was subscribed 6.53 times on Day 1, with strong initial demand from Retail Individual Investors (RII).
• Retail investors showed early interest with a subscription ratio of 8.24 times, indicating positive sentiment among individual investors.
• Non-Institutional Investors (NII) showed solid initial interest with a subscription ratio of 5.29 times.
• Qualified Institutional Buyers (QIB) showed initial interest with a subscription ratio of 4.46 times.
• The strong first-day response laid a foundation for the remaining days of the IPO, with expectations of increased participation in the following days.

About Shree Tirupati Balajee IPO:

• Shree Tirupati Balajee Agro Trading Company Limited, established in October 2001, manufactures and sells Flexible Intermediate Bulk Containers (FIBCs) and other industrial packaging products. The company's product range includes FIBCs, woven sacks, woven fabric, narrow fabric, and tapes.
• Shree Tirupati Balajee caters to the bulk packaging needs of clients from various industries, including chemicals, agrochemicals, food, mining, waste disposal, agriculture, lubricants, and edible oil. The company offers customised products to meet specific client requirements.
• Key features of Shree Tirupati Balajee:
• Operates through subsidiaries: Honourable Packaging Private Limited (HPPL), Shree Tirupati Balajee FIBC Limited (STBFL), and Jagannath Plastics Private Limited (JPPL)
• Five manufacturing units with various ISO certifications
• 857 department employees as of July 2024

Highlights of the Shree Tirupati Balajee IPO:

• IPO Date: 5th September 2024 to 9th September 2024
• Listing Date: 12th September 2024 (Tentative)
• Face Value: ₹10 per share
• Price Band: ₹78 to ₹83 per share
• Lot Size: 180 Shares
• Total Issue Size: 20,440,000 shares (aggregating up to ₹169.65 Cr)
• Fresh Issue: 14,750,000 shares (aggregating up to ₹122.43 Cr)
• Offer for Sale: 5,690,000 shares (aggregating up to ₹47.23 Cr)
• Issue Type: Book Built Issue IPO
• Listing At: BSE, NSE
• Book Running Lead Managers: Pnb Investment Services Ltd and Unistone Capital Pvt Ltd