Shree Tirupati Balajee Agro Trading's IPO attracted an enormous reaction from investors, resulting in an aggregate subscription of 124 times at closing.
The company will use net proceeds from the fresh issue towards repayment of debts, investing in subsidiary and for other working capital requirements.
The IPO consists of a fresh issue of 1.47 Crore equity shares and an offer-for-sale (OFS) of 56.90 lakh equity shares by promoter Binod Kumar Agarwal.
According to BSE data, Shree Tirupati Balajee has received bidding for 88,30,70,280 shares against the company's offer of 1,43,08,000 shares.
The IPO aims to raise ₹169.65 Crore through a fresh issue of 14,750,000 shares and an offer for sale of 5,690,000 shares, each with a face value of ₹10.
PNB Investment Services Ltd and Unistone Capital Private Ltd have been named Lead Managers of the public offering.
The Shree Tirupati Balajee IPO will be up for subscriptions on September 5, 2024 and end on September 9, 2024.
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