Shree Tirupati Balajee IPO: The IPO of Shri Tirupati Balaji Agro Trading Company got listed in the stock market today. The company’s shares were listed on both BSE and NSE stock exchanges. Shri Tirupati Balaji’s shares were listed on BSE at Rs 92.90 with a 12% premium over its IPO price of Rs 83. At the same time, this stock was listed on NSE at Rs 90 with an 8.4% premium. However, after the listing, there was a rush to buy it and this stock hit an upper circuit of 5% on BSE-NSE. Not a single investor is seen selling this stock on NSE and this stock reached Rs 94.50. At the same time, 41,37,199 lakh new shares were purchased. Let us tell you that this IPO got a strong response from the investors and even in the gray market, this stock reached above 70% premium.
It was subscribed 124.74 times
The IPO was subscribed 124.74 times on the last day of bidding on Monday. According to NSE data, the nearly Rs 170-crore IPO received bids for 1,78,48,29,420 shares against the offer of 1,43,08,000 shares. The non-institutional investors’ quota was subscribed 210.12 times, while the qualified institutional buyers (QIBs) portion was subscribed 150.87 times. The retail individual investors (RIIs) category received 73.22 times bids. Sri Tirupati Balaji Agro Trading Company’s IPO was subscribed 6.36 times on the first day of bidding on Thursday.
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what is the detail
Sri Tirupati Balaji Agro Trading Company Limited had fixed the price band for its IPO at Rs 78-83 per share. The IPO comprised a fresh issue of 1.47 crore equity shares and an offer for sale (OFS) of 56.90 lakh equity shares by Binod Kumar Agarwal. Proceeds from the sale of fresh shares will be used for repayment of debt, investments in subsidiaries, supporting capital requirements and general corporate purposes.
