Shree Tirupati Balajee Agro Trading Company IPO

Shree Tirupati Balajee Agro Trading Company IPO is offering a 100% book-built public issue. This upcoming IPO is offering a fresh issue of up to 1.48 Crores of equity shares and up to 0.57 Crore as an offer for sale, which summed up to 2.05 Crore of total offering size. The face value is reported as Rs. 10 for each share. This new IPO issue is being made through the book-building process with a reservation of not more than 50% of the new offer is reserved for Qualified Institutional Investors, not less than 15% reserved for Non-Institutional Investors and the remaining 35% or more is reserved for Retail Individuals. Public issue subscription opening and closing date and other important dates will be announced soon.

About the Company

The company is engaged in the business of manufacturing and selling of Flexible Intermediate Bulk Containers (FIBCs). The company offer customised products and caters to the bulk packaging solutions of our clients from diverse industries. The company offer a wide range of packaging solutions to their clients since they manufacture a variety of FIBC bags, woven bags and container liners etc. The company manufactures FIBC bags for packaging all possible products, including food products, chemicals, mining, etc. The company is managed by a professionals management team led by Mr Binod Kumar Agarwal, our Promoter and Managing Director, who is a qualified Chemical Engineer with over three and a half decades of experience. Mr. Agarwal's leadership has guided our company to its current market position in the packaging industry. The FIBC produced by our company are engineered to accommodate loads ranging from 500 kg to 2,500 kg. FIBC accounts for 67.79%, 67.89%, 78.30% and 70.72% of revenue from operations as of september  30, 2023 and for the year ended Fiscal 2023, Fiscal 2022 and Fiscal 2021, respectively.

Objectives of the Public Offering

The company intend to utilise the net proceeds of the Fresh Issue, i.e. gross proceeds of the Fresh Issue less the offer-related expenses apportioned to our company ("Net Proceeds") are proposed to Repayment and/or prepayment, in part or full of certain of the outstanding borrowings availed by the Company and its Subsidiaries namely Honourable Packaging Private Limited ("HPPL"), Shree Tirupati Balajee FIBC Ltd. ("STBFL") and Jagannath Plastics Pvt. Ltd. ("JPPL"); Funding the incremental working capital requirements of the company and subsidiaries; and General corporate purposes.

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Financials of the Company

The company reported net revenue of Rs 478.14 Crore, Assets worth Rs 392.48 Crore and Profit After Tax is reported Rs 207.20 Crore for the year ended March 31, 2023. If we look at the company's sales statistics, we can see that it has experienced decent growth in recent years. The company's export sales accounts for 63.06%, 64.13%, 84.44% and 67.73% of total revenue for the period ended September 30, 2023 and in Fiscal 2023, Fiscal 2022 and Fiscal 2021 respectively.

Lead Manager, Registrar & Promoter of Public Offering

The IPO is managed by PNB Investment Services Limited, Unistone Capital Private Limited, which is the book-running lead managers. Link Intime India Private Limited has been appointed as the registrar for the issue. The promoter of the Company Binod Kumar Agrawal. The IPO listing will be on National Stock Exchange (NSE) & the Bombay Stock Exchange (BSE).

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