Shree Tirupati Balajee Agro Trading Company will debut on the stock exchanges on September 12, 2024. The company, which specializes in making Flexible Intermediate Bulk Containers (FIBCs) and other industrial packaging products, collected considerable interest during its IPO subscription period.
The public issue, priced between ₹78 to ₹83 per share, was highly oversubscribed by almost 124.74 times, recalling strong demand from all investor categories. Non-institutional investors showed the pack with 210.12 times subscription, followed by qualified institutional buyers at 150.87 times and retail investors at 73.22 times.
Despite the strong initial interest, the grey market premium (GMP) for Shree Tirupati Balajee shares has undergone changes. Originally peaking at ₹40, the GMP has recently seen a drop, settling at around ₹23 per share. This means a premium of about 27.71% over the IPO price, suggesting that the shares could list around ₹106 on the bourses, providing investors with a significant increase of around 27% from the issue price.
ALSO READ: Shree Tirupati Balajee IPO Allotment Status Today: Oversubscribed 124.74 Times
The declining trend in GMP since the IPO’s opening on September 5, 2024, has caused some concern among investors. The drop from ₹40 to ₹23 highlights the volatile nature of market views leading up to the listing. However, the GMP remains positive, showing a typically bright outlook for the company’s market debut. If the shares hold the current GMP, it could signal a strong opening on the listing date.
Overall, Shree Tirupati Balajee’s IPO has drawn considerable attention and is poised for a promising entry into the stock market, albeit with some delays reflected in the fluctuating grey market premium. Investors should watch market conditions as the listing date approaches to make informed decisions about their investments.
For more information on checking the IPO allotment status or understanding the latest updates on the GMP, you can visit official sources like the BSE website or the IPO registrar Link Intime India Pvt Ltd.
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