New Delhi [India], September 5: Shree Tirupati Balajee Agro Trading Company Limited– a leading manufactures Flexible Intermediate Bulk Containers (FIBCs) and other packaging products plans to raise up to Rs. 169.65 crore from its public issue.

Highlights:-

Public issue opens for subscription from September 5 and closes on September 9
Funds raised through the public issue will be used for corporate purposes, repayment &/or prepayment of outstanding borrowings, investment in the subsidiaries HPPL, STBFL & JPPL for repayment or prepayment of borrowings, working capital requirements of company and subsidiaries
PNB Investment Services Ltd and Unistone Capital Pvt Ltd are the book running lead managers of the issue.

The initial public offering of up to 20,440,000 equity shares of face value Rs. 10 each comprises of fresh issue of up to 14,750,000 equity shares and an offer for sale of up to 5,690,000 equity shares by the promoter group. Company has fixed price band of Rs. 78-83 per equity share for the public issue. The minimum lot size for an application is 180 Shares. The minimum amount of investment required by retail investors is Rs. 14,940.

Out of the total issue proceeds, company plans to utilise Rs. 31.45 crore for repayment and/or prepayment, in part or full, of certain of our outstanding borrowings, Rs. 20.82 crore investment in subsidiaries HPPL, STBFL and JPPL for repayment and/or prepayment, in part or full, of certain of outstanding borrowings, Rs 13.50 crore towards working capital requirements, Rs. 10.74 crore for investment in subsidiaries HPPL, STBFL and JPPL for funding working capital requirements and general corporate purposes. The public issue opens for subscription on September 05 and closes on September 09, 2024. The company’s shares will be listed n the BSE & NSE.

Established in October 2001, Shree Tirupati Balajee Agro Trading Company Limited manufactures and sells Flexible Intermediate Bulk Containers (FIBCs), i.e., 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. The company offers customized products and caters to the bulk packaging needs of clients from various industries, including chemicals, agrochemicals, food, mining, waste disposal, agriculture, lubricants, and edible oil. The company operates through subsidiaries such as Honourable Packaging Private Limited (HPPL), Shree Tirupati Balajee FIBC Limited (STBFL), and Jagannath Plastics Private Limited (JPPL).

The company operates five manufacturing units. Units I and II are certified with ISO 9001:2015 and ISO 14001:2018. Unit III is certified with ISO 9001:2015, ISO 45001:2018, ISO 14001:2015, ISO 14064-1:2018, and the SEDEX SMETA four-pillar. The company’s certifications cover the production of Flexible Intermediate Bulk Containers (FIBC), Woven Sacks, and Fabrics of PP (Polypropylene) and HDPE (High-Density Polyethylene). As of July 2024, the company has 857 department employees.

The financial performance of the company has exhibited considerable progress over the years. The company has seen a consistent increase in revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs. 454 crore in FY22 to Rs 478 crore in FY23 to Rs 553 crore in FY24. PAT increased from Rs 13.66 crore in FY22 to Rs 20.72 crore in FY23 to Rs 36.07 crore in FY24.

Particulars
FY24
FY23
FY22

Total Income (Rs. in Cr)
552.82
478.13
453.78

EBITDA (%)
13.58%
10.61%
8.93%

PAT (%)
6.53%
4.33%
3.01%

ROE (%)
20.84%
18.80%
10.02

IPO Highlights – Shree Tirupati Balajee Agro Trading Company Ltd

IPO Opens on
September 05, 2024

IPO Closes on
September 09, 2024

Issue Price Band
Rs. 78- 83 Per Share

Issue Size (No of Shares)
20,440,000 Equity Shares

Fresh Issue (No of Shares)
14,750,000 Equity Shares

Offer for Sale (No of Shares)
5,690,000 Equity Shares

Issue Size (Rs. Cr)
Rs. 169.65 crore (At Rs. 83 per share)

Listing on
BSE & NSE

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