Shree Tirupati Balajee Share Listed at Rs 90, Investors Gain Up to 8.43%

The IPO of Shree Tirupati Balajee was open for subscription from September 5, 2024, to September 9, 2024, to be listed on exchanges like NSE and BSE on September 12, 2024. Shree Tirupati Balajee had issued 20,440,000 shares out of these 14,750,000 shares were offered as a fresh issue and 5,690,000 shares were offered as an offer for sale.

The IPO was oversubscribed by 124.74 times the issue price reflecting strong investor confidence in the company. This led to the last grey market premium(GMP) of Rs. 27 expecting a listing price of Rs. 110. 

The issue price of Shree Tirupati Balajee was at a price band of Rs. 78 to Rs. 83 per share and the company was listed in the exchange at Rs. 90 which is an 8.43% increase from the issue price. This listing gain was marked lower than the expected Grey Market Premium Price, and it is considered a negative listing as per GMP. The stock closed for a price of Rs. 94.50 a gain of 13.86%.

Shree Tirupati Balajee is a company engaged in the business of manufacturing and selling Flexible Intermediate Bulk Containers (FIBCs) i.e. large flexible bags and other industrial packaging products such as woven sacks, woven fabric, and narrow fabric, tapes.

The company provides customized products and caters to the bulk packaging requirements of clients across multiple industries, including chemicals, agrochemicals, food, mining, waste management, agriculture, lubricants, and edible oil.

To understand more about this stock you can check out our article on Shree Tirupati Balajee IPO Analysis on Rupeezy’s Blog. The article explores the company’s financial health, competitive advantages, and the reasons behind the strong market response to its IPO.

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