Shree Tirupati Balajee Agro Trading, a Madhya Pradesh-based manufacturer and seller of industrial packaging solutions, has opened its initial public offering with a price band of ₹78-₹83 per share. The company is looking to raise ₹169.65 crore, with a major portion of it being a fresh issue of ₹122.43 crore. With the IPO closing on September 9, investors are keeping a close eye on the Madhya Pradesh-based company's performance.
Shree Tirupati Balajee Agro Trading: Initial Public Offering
Shree Tirupati Balajee Agro Trading (STBAT), a Madhya Pradesh-based industrial packaging solutions manufacturer and seller, has launched its initial public offering (IPO), offering shares within a price band of ₹78-₹83 per share.
Background
STBAT, established in 1998, operates in the niche market of industrial packaging, catering to sectors such as sugar, cement, food grains, and dairy products. The company offers a range of packaging solutions, including flexible intermediate bulk containers (FIBCs), high-density polyethylene (HDPE) bags, and woven sacks.
IPO Details
The IPO aims to raise a total of ₹169.65 crore, with ₹122.43 crore coming from a fresh issue of equity shares. The proceeds from the IPO will be utilized for setting up a new manufacturing facility in Madhya Pradesh, expanding its existing plant, and working capital requirements.
The issue will open for subscription on August 31st and close on September 9th, 2022.
Market Response
The IPO has received a positive response from analysts, who believe that the company's strong market position, focus on niche sectors, and expansion plans make it an attractive investment opportunity.
Top 5 FAQs and Answers
1. What is the market size for industrial packaging in India? A: The Indian industrial packaging market is estimated to be worth over ₹45,000 crore annually.
2. What is the competitive landscape of the industrial packaging sector? A: The sector is fragmented, with several regional and local players. However, STBAT holds a significant market share in its niche segments.
3. What are the key growth drivers for STBAT? A: The company's growth is driven by increasing demand for industrial packaging solutions, particularly from the sugar and food grain industries.
4. How has STBAT performed financially in recent years? A: STBAT's revenue and profitability have grown steadily in recent years. For the fiscal year ended March 2022, the company reported revenue of ₹233.89 crore and a net profit of ₹27.64 crore.
5. What is the company's long-term vision? A: STBAT aims to become a leading national player in the industrial packaging space by expanding its product portfolio, increasing its manufacturing capacity, and targeting new customer segments.
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