Shree Tirupati Balajee Agro Trading Company IPO
ClosedSchedule of Shree Tirupati Balajee Agro Trading Company
| Issue open date | 05 Sep 2024 |
| Issue close date | 09 Sep 2024 |
| UPI mandate deadline | 09 Sep 2024 (5 PM) |
| Allotment finalization | 10 Sep 2024 |
| Refund initiation | 11 Sep 2024 |
| Share credit | 11 Sep 2024 |
| Listing date | 12 Sep 2024 |
| Mandate end date | 24 Sep 2024 |
| Lock-in end date for anchor investors (50%) | 10 Oct 2024 |
| Lock-in end date for anchor investors (remaining) | 09 Dec 2024 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Shree Tirupati Balajee Agro Trading Company
Shree Tirupati Balajee Agro Trading Company Limited’s IPO is set to open on September 5, 2024 and will close on September 9, 2024. Founded in October 2001, the company specializes in the manufacturing and sale of Flexible Intermediate Bulk Containers (FIBCs) and other industrial packaging products such as woven sacks, woven fabric, narrow fabric, and tapes, serving both the domestic and international markets.
The company provides packaging solutions for various industries, including chemicals, agrochemicals, food, mining, waste disposal, agriculture, lubricants, and edible oil, and operates through subsidiaries like Honourable Packaging Private Limited (HPPL), Shree Tirupati Balajee FIBC Limited (STBFL), and Jagannath Plastics Private Limited (JPPL), managing production across five manufacturing units.
Financials of Shree Tirupati Balajee Agro Trading Company
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹169.65 crores |
| Fresh Issue | ₹122.43 crores |
| Offer for sale | ₹47.23 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Repayment of outstanding borrowings by the company | 31.45 (18.54%) |
| Subsidiary borrowing repayment | 20.82 (12.27%) |
| Fund incremental working capital requirements | 13.50 (7.95%) |
| Subsidiary Working Capital | 10.74 (6.33%) |
| General corporate purposes | 86.14 (50.77%) |
Strengths
- Maintains long-term relationships across industries with customized FIBC solutions (Flexible Intermediate Bulk Containers).
- Provides lightweight, cost-effective FIBCs (large, flexible bags for storing and transporting dry, flowable products), widely adopted for reduced transportation costs.
- Offers a comprehensive range of FIBC bags for various industries.
- Operates five strategically located, modern manufacturing units.
Risks
- Concentration of manufacturing facilities: All manufacturing units are located in Pithampur, Madhya Pradesh, which could face significant risks from localized disruptions.
- Regulatory risks on plastic products: Potential bans on plastic packaging, given the increasing environmental concerns, could significantly impact the company’s operations and financials.
- Volatility in raw material prices: Fluctuations in crude oil prices and supply chain issues may lead to increased operational costs and affect profitability.
- Unsecured loans repayable on demand: The company has unsecured loans that can be recalled by lenders at any time, potentially straining cash flows and impacting financial stability if immediate repayment is required.