Shree Tirupati Balajee Agro Trading Secures ₹50.89 Crore from Anchor Investors Before IPO Launch

Shree Tirupati Balajee Agro Trading has raised ₹50.89 crore from anchor investors just before its initial public offering (IPO), which opens to the public on September 5.

The company allocated 61,32,000 shares at ₹83 each to these investors on September 4. The anchor investors include NAV Capital VCC – NAV Capital Emerging Star Fund, Chanakaya Opportunities Fund I, Next Orbit Growth Fund III, Saint Capital Fund, Steptrade Revolution Fund, and Astorne Capital VCC – Arven.

IPO Details:

• Fresh Issue: Up to 14,750,000 shares
• Offer for Sale (OFS): Up to 5,690,000 shares by Binod Kumar Agarwal

The IPO will run from September 5 to September 9, 2024. Shares will be priced between ₹78 and ₹83 each, with the total amount raised expected to be ₹169.65 crore if priced at the higher end.

Investors can bid for a minimum of 180 shares and additional multiples of 180 shares. The IPO will use the Book Building Process, with up to 50% of shares allocated to Qualified Institutional Buyers, at least 15% to Non-Institutional Bidders, and at least 35% to Retail Individual Bidders.