Shree Tirupati Balajee IPO allotment: Check application status, GMP & listing date

Shree Tirupati Balajee Agro Trading Company (STBATCL) is scheduled to finalise the basis of allotment of its shares on Tuesday, September 10. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Wednesday, September 11. The packaging solutions provider had received a strong response from the investors.
 

The IPO of Shree Tirupati Balajee Agro Trading Company was open for bidding between September 5 and September 9. It had offered its shares in the fixed price band of Rs 78-83 per share with a lot size of 180 shares. The company raised a total of Rs 169.65 crore from its IPO, which included a fresh share sale of Rs 122.43 crore and an offer-for-sale (OFS) up to 46.90 lakh shares.
 

The issue was overall subscribed a total of 124.75 times, thanks to a strong push from non-institutional investors (NIIs), whose quota was booked 210.12 times. The quota for qualified institutional bidders (QIBs) was subscribed 150.87 times. The portion reserved for retail investors saw bidding for 73.22 times during the three-day bidding process.
 

Grey market premium (GMP) of Shree Tirupati Balajee Agro Trading Company has remained stable amid the volatile market sentiments. Last heard, the company was commanding a premium of Rs 38-40 per share, suggesting a listing pop of nearly 45-48 per cent for the investors. However, it was around Rs 35 when the issue had opened for bidding.
 

Incorporated in October 2001, Shree Tirupati Balajee Agro Trading Company manufactures and sells flexible intermediate bulk containers (FIBCs) including large flexible bags, and other industrial packaging products such as woven sacks, woven fabric, narrow fabric, and tapes in the Indian domestic market and overseas.
 

Brokerages are mostly positive on the issue, suggesting investors to subscribe to it for a long-term citing its strong market share, diverse product portfolio, quality and efficient product and rising demand of its solutions. On the other hand, concentration in a single region, tepid financial, use of plastic in the products and negative cash flows are the key concerns of the business.
 

Unistone Capital and PNB Investment Services are the book running lead managers of the Shree Tirupati Balajee IPO, while Link Intime India is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE with Thursday, September 12 as the tentative date of listing.
 

Investors, who had bid for the issue of Shree Tirupati Balajee Agro Trading Company, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select Shree Tirupati Balajee Agro Trading Company Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit search button
 

Investors can also check the allotment status on the online portal of Link Intime India (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.
 

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.
 

1) Go to the web portal of Link Intime Limited

2) Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized

3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.