Shree Tirupati Balajee IPO Price: ₹78 to ₹83 per share
IPO Dates: 5 September 2024 – 9 September 2024
Company Overview
Established in October 2001, Shree Tirupati Balajee Agro Trading Company Limited (STB) is a leading manufacturer and supplier of Flexible Intermediate Bulk Containers (FIBCs) and other industrial packaging products. The company operates in both the Indian domestic market and internationally, offering a range of packaging solutions, including woven sacks, woven fabric, narrow fabric, and tapes.
Product Offerings
Shree Tirupati Balajee Agro Trading Company Limited offers a comprehensive range of packaging solutions designed to meet diverse bulk packaging needs. Their primary product, Flexible Intermediate Bulk Containers (FIBCs), also known as big bags or bulk bags, are engineered for the safe and efficient storage and transportation of bulk materials. These FIBCs are available in various types, including standard, form-stable, and conductive options, catering to industries such as chemicals, agrochemicals, food, and mining.
In addition to FIBCs, STB produces woven sacks, which are versatile and durable, making them suitable for packaging agricultural products, chemicals, and construction materials. The company also manufactures woven fabric and narrow fabric, used in various applications from packaging to industrial processes. Their tape products are designed for reinforcement and sealing purposes, ensuring the integrity of the packaging. Customization is a key aspect of STB’s offerings, allowing clients to tailor products to their specific needs and industry requirements.
Subsidiaries and Manufacturing Facilities
The company operates through several subsidiaries, including Honourable Packaging Private Limited (HPPL), Shree Tirupati Balajee FIBC Limited (STBFL), and Jagannath Plastics Private Limited (JPPL). STB has five manufacturing units, with Units I and II certified under ISO 9001:2015 and ISO 14001:2018. Unit III holds additional certifications such as ISO 45001:2018, ISO 14001:2015, ISO 14064-1:2018, and SEDEX SMETA four-pillar. These certifications cover the production of FIBCs, woven sacks, and polypropylene (PP) and high-density polyethylene (HDPE) fabrics.
Global Presence and Export Growth
Shree Tirupati Balajee Agro Trading Company Limited is one of the largest producers and retailers of FIBCs in the Indian market. It is also recognized as one of the fastest-growing exporters globally. The company boasts over 20 years of experience in the industry and is committed to delivering high-quality products worldwide. STB holds a patent for a specialized fabric called “Aeropolymesh” and is renowned for its rapid growth in the export sector.
Certifications and Quality Standards
STB is dedicated to maintaining high standards of quality and safety. The company operates a fully integrated facility across three locations within two miles of each other. It holds certifications including ISO 9001:2015, ISO 22000:2018, BIS, and several other international benchmarks. The food-grade facility is certified for ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, ISO 22000:2018, BRCGS, and Sedex SMETA. These certifications ensure that STB’s products meet rigorous testing and inspection routines, adhering to high-quality and contamination-conscious standards required by the international food-grade industry.
Commitment to Excellence
Shree Tirupati Balajee Agro Trading Company Limited aims to be a pioneer in bulk packaging manufactured in India. With a strong vision and commitment to excellence, STB provides world-class FIBC products and solutions tailored to the bulk packaging requirements of a diverse global customer base.
Bidding Starts In
Shree Tirupati Balajee IPO Specifics:
| IPO Date | September 5, 2024 to September 9, 2024 |
| Listing Date | Thursday, September 12, 2024 |
| 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 |
| Share holding pre issue | 66,820,852 |
| Share holding post issue | 81,570,852 |
Shree Tirupati Balajee IPO Timetable (Important Dates)
| IPO Open Date | Thursday, September 5, 2024 |
| IPO Close Date | Monday, September 9, 2024 |
| Basis of Allotment | Tuesday, September 10, 2024 |
| Initiation of Refunds | Wednesday, September 11, 2024 |
| Credit of Shares to Demat | Wednesday, September 11, 2024 |
| Listing Date | Thursday, September 12, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 9, 2024 |
Shree Tirupati Balajee IPO Lot Size
Bidders have the opportunity to bid for a minimum of 180 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 180 | ₹14,940 |
| Retail (Max) | 13 | 2,340 | ₹1,94,220 |
| S-HNI (Min) | 14 | 2,520 | ₹2,09,160 |
| S-HNI (Max) | 66 | 11,880 | ₹9,86,040 |
| B-HNI (Min) | 67 | 12,060 | ₹10,00,980 |
Shree Tirupati Balajee IPO Reservation
| QIB Shares Offered | Not more than 50% of the Net offer |
| Retail Shares Offered | Not less than 35% of the Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Offer |
Shree Tirupati Balajee Agro Trading Company Limited IPO Financial Information
Shree Tirupati Balajee Agro Trading Company Limited experienced a notable uptick in its revenue, marking a 16% growth, and witnessed a substantial surge in profit after tax (PAT), which escalated by an impressive 74% during the period spanning from the financial year concluding on March 31, 2024, to March 31, 2023.
| Period Ended | 31 Mar 2022 | 31 Mar 2023 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 381.89 | 392.46 | 516.94 |
| Revenue | 453.79 | 478.14 | 552.82 |
| Profit After Tax | 13.66 | 20.72 | 36.07 |
| Net Worth | 92.23 | 110.21 | 173.07 |
| Reserves & Surplus | 109.05 | 106.24 | |
| Total Borrowing | 240.06 | 223.81 | 243.69 |
Key Performance Indicator – Shree Tirupati Balajee IPO
| KPI | Values |
|---|---|
| Market Cap | ₹ 677.04 Cr. |
| ROE | 20.84% |
| ROCE | 16.29% |
| EPS | ₹22.09 |
| P/E (x) | 23.95 |
| Debt/ Equity | 1.41 |
| RoNW | 20.84% |
| P/BV | 3.01 |
Objects of the Issue:
The company has plans to use the net proceeds generated from the Fresh Issue for the following purposes:
- Repayment and/or prepayment, either partially or fully, of specific outstanding borrowings obtained by the Company.
- Making investments in the subsidiaries HPPL, STBFL, and JPPL to facilitate repayment and/or prepayment, either partially or entirely, of specific outstanding borrowings acquired.
- Supporting the incremental working capital needs of the company;
- Making investments in the subsidiaries HPPL, STBFL, and JPPL to cater to the funding requirements for working capital and
- Addressing general corporate objectives.
Prospectus Links:
Prospectus: Official documents that provide detailed information about the IPO and the company.
