look news india
New Delhi, September 12 (HS). Shares of Shri Tirupati Balaji Agro Trading Limited Company were listed on Thursday with a gain of about 12 percent against its issue price of Rs 83. The company had priced the IPO of about Rs 170 crore at Rs 78-83 per share.
The company's share was listed at Rs 92.90 on the Bombay Stock Exchange (BSE), which shows a jump of 11.92 percent from the issue price. However, later during the trading, it rose by 17.51 percent to reach Rs 97.54. At the same time, the company's share was listed at Rs 90 on the National Stock Exchange (NSE) at the beginning of trading with a rise of 8.43 percent.
The company's shares are trading with a grey market premium (GMP) of Rs 25 ahead of its listing on both the major stock market indices. The initial public offering (IPO) of Shri Tirupati Balaji Agro Trading Limited got a premium of 11.9 per cent. The market valuation of the company was Rs 795.64 crore. The IPO of Shri Tirupati Balaji Agro Trading Company was subscribed 124.74 times till Monday, the last day of bidding.
It is noteworthy that Shri Tirupati Balaji Agro Trading Limited Company is engaged in the business of manufacturing and selling Flexible Intermediate Bulk Containers (FIBC) i.e. large flexible bags and other industrial packaging products like woven sacks, woven fabrics and narrow fabrics, tapes in the Indian domestic market and abroad.