Shree Tirupati Balajee Agro Trading IPO: Key Details

Upcoming IPO Announcement

Key Facts:

• Shree Tirupati Balajee Agro Trading Limited, an oilseed processor, has announced its initial public offering (IPO) to raise funds for expansion and working capital requirements.
• The IPO will open on September 5, 2023, and close on September 7, 2023.
• The company has set a price band of Rs 78-83 per share for the IPO.

The IPO is expected to raise around Rs 200 crore, with the funds being utilized for expanding the company's processing capacity, setting up new depots, and meeting working capital requirements.

Shree Tirupati Balajee Agro Trading is a leading player in the oilseed processing industry in India, with a market share of approximately 5%. The company processes a variety of oilseeds, including soybean, sunflower, and mustard seeds, and produces crude oil, refined oil, and other byproducts.

The company's revenue for the financial year 2022-23 was Rs 2,200 crore, with a net profit of Rs 150 crore. The company has a strong track record of profitability and has been consistently paying dividends to its shareholders.

The IPO is being managed by Axis Capital Limited and ICICI Securities Limited. The registrar to the issue is Link Intime India Private Limited.