Shree Tirupati Balajee IPO listing date today; GMP and experts indicate strong debut for the stock on BSE, NSE

Shree Tirupati Balajee IPO Listing: The equity shares of Shree Tirupati Balajee Agro Trading Company Ltd are all set to make their debut on the stock exchange today after receiving a strong demand for its initial public offering (IPO). The IPO listing date for Shree Tirupati Balajee is today, September 12.

Shree Tirupati Balajee’s IPO opened for subscription on September 5 and closed on September 9. IPO Award The listing date for Shree Tirupati Balajee’s IPO has been set for September 10 and September 12 on Thursday. Shree Tirupati Balajee shares will be listed on both the BSE and NSE stock exchanges.

“Trading members of the Exchange are hereby informed that with effect from Thursday, 12th September, 2024, the equity shares of SHREE TIRUPATI BALAJEE AGRO TRADING COMPANY LIMITED shall be included and admitted to trading on the Exchange under the ‘T’ Group of Securities,” a notice on BSE said.

Shree Tirupati Balajee shares will be in the Trade-by-Trade segment for 10 business days and will be part of the Special Pre-Opening Session (SPOS) today, it added. Shree Tirupati Balajee shares will be available for trading from 10:00 am

Ahead of the List of Shree Tirupati Balajee Stocks Today, trends in the grey market indicated a good debut for the stock. Analysts are also expecting gains in Shree Tirupati Balajee share price today.

Here’s what analysts and Shree Tirupati Balajee IPO GMP are saying today.

Shree Tirupati Balajee IPO GMP today

Trends in the grey market indicate a strong listing for Shree Tirupati Balajee shares. Shree Tirupati Balajee GMP IPO today, or grey market premium today, pre-listing is ₹22 per share. This indicates that Shree Tirupati Balajee shares are trading higher ₹22 than its issue price on the grey market.

Shree Tirupati Balajee IPO Price

Considering today’s IPO of Shree Tirupati Balajee and the issue price, the estimated share price of Shree Tirupati Balajee is ₹105 each, which represents a 27% premium over the IPO price of ₹83 per share.

Analysts also expect decent gains in share prices for Shree Tirupati Balajee IPO investors today.

“Shree Tirupati Balajee is poised for a strong market debut and is expected to trade at a premium of 20-30%. At a current P/E ratio of 14.5x based on FY24 earnings, the IPO is attractively priced. Investors who have been allotted the shares are advised to hold on to them with a medium to long-term view,” said Akriti Mehrotra, Research Analyst, Stoxbox.

Shree Tirupati Balajee Agro Trading Company Ltd. has established itself as a leading player in the flexible intermediate bulk containers (FIBC) and industrial packaging market, leveraging high market demand and a global presence. Despite challenges such as regulatory changes affecting plastic usage, fluctuations in raw material supply and regional manufacturing concentration, the company has shown consistent financial growth, Mehrotra added.

The company reported a revenue CAGR of 10.2%, increasing from ₹444.2 crore in FY22 ₹539.7 crore in FY24. EBITDA margins improved from 7% to 11% and PAT increased from ₹13.7 crore rupees ₹36.1 crore rupees.

Shree Tirupati Balajee IPO details

The subscription period for Shree Tirupati Balajee IPO was from September 5 to September 9. The IPO allotment ended on September 10 and the listing date for Shree Tirupati Balajee IPO is today, September 12.

The company raised ₹169.65 crore of the reserved issue of shares, which was a combination of a fresh issue of 1.48 crore equity shares worth ₹122.43 crore and offer for sale of 56.90 lakh shares totalling ₹47.23 crores. The IPO price of Shree Tirupati Balajee was ₹78 a ₹83 per share.

Shree Tirupati Balajee’s IPO was subscribed 124.74 times in total. The public issue was registered 73.22 times in the retail category, 150.87 times in the qualified institutional buyers (QIB) category and 210.12 times in the non-institutional investors (NII) category.

PNB Investment Services Ltd and Unistone Capital Pvt Ltd are the lead book-running managers for the Shree Tirupati Balajee IPO, while Link Intime India Private Ltd is the registrar for the IPO.

Disclaimer: The opinions and recommendations expressed above are those of individual analysts or brokerage firms, and not those of Mint. We recommend that investors consult with certified experts before making any investment decisions.