The initial public offering (IPO) of Shree Tirupati Balajee Agro Trading Company (Tirupati Balajee Agro IPO) has sparked significant excitement in the market.
Tirupati Balajee Agro IPO Date
The IPO, which opened on September 5 and is set to close on September 9, has already seen a remarkable subscription rate of 18.17 times by the end of its second day.
The buzz extends beyond the primary market, with the IPO attracting substantial attention in the gray market. Currently, the shares are being traded at a premium of Rs 40 in this unofficial market, suggesting a potential listing price of Rs 123. If this scenario unfolds, investors could see a substantial gain of 48 percent on their investment.
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The company is looking to raise Rs 169.65 crore through this IPO, with a price range set between Rs 78 and Rs 83 per share. Following the IPO, share allotments to successful bidders are expected to occur on September 10, 2024, with shares likely to be listed on the Bombay Stock Exchange and the National Stock Exchange by September 12.
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The IPO comprises the issuance of 1.47 crore fresh equity shares, valued at Rs 122.43 crore. Additionally, 56.90 lakh equity shares worth Rs 47.23 crore will be offered through an Offer for Sale (OFS) by promoter Binod Kumar Agarwal. Investors can apply for a minimum of 180 equity shares, with subsequent bids to be made in multiples of 180 shares.
As the IPO continues to garner interest, both in the official and gray markets, it remains to be seen how the shares will perform upon listing and whether the anticipated gains will materialize for early investors.
Tags: tirupati balaji agro ipo gmp, grey market, tirupati balajee agro ipo gmp
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