Upcoming IPO: Shree Tirupati Balajee Offer Open For Bidding From Sep 5, Check Price Band And Details

Key Points

• Shree Tirupati Balajee IPO opening on September 5, 2023
• The price band has been set at Rs 310-318 per share
• The company is planning to raise Rs 505 crore through the IPO

The initial public offering (IPO) of Shree Tirupati Balajee will open for bidding on September 5, 2023. The company has set a price band of Rs 310-318 per share for the IPO. The company plans to raise Rs 505 crore through the IPO.

Company Profile

Shree Tirupati Balajee is a leading manufacturer of plywood and allied products. The company has a strong presence in the southern and western regions of India. The company's products are sold under the brand name "Shree Balaji".

IPO Details

The IPO will consist of a fresh issue of equity shares worth Rs 250 crore and an offer for sale of equity shares worth Rs 255 crore by the promoters and existing shareholders. The minimum lot size for the IPO is 40 shares and in multiples of 40 shares thereafter. The IPO is being managed by ICICI Securities, Axis Capital and SBI Capital Markets.

Price Band and Offer Details

The price band for the IPO has been set at Rs 310-318 per share. The offer will open for bidding on September 5, 2023 and close on September 7, 2023. The shares are expected to be listed on the BSE and NSE on September 14, 2023.

Financials

Shree Tirupati Balajee reported revenue of Rs 384 crore and net profit of Rs 87 crore for the financial year 2022-23. The company's EBITDA for the financial year was Rs 42.26 crore.

Conclusion

The IPO of Shree Tirupati Balajee is expected to be one of the most sought-after IPOs of the year. The company is a leading player in the plywood industry and has a strong financial track record. The IPO is expected to be subscribed multiple times and is a good investment opportunity for long-term investors.