Shree Tirupati Balajee Agro Trading Company files draft paper for IPO

Shree Tirupati Balajee Agro Trading Business has actually submitted a draft red herring program with the monetary markets regulatory authority, the Securities and Exchange Board of India for its initial public offering (IPO).

DRHP is a record that includes the business’s economic information, future potential customers, and other key aspects relating to the business and is submitted with the regulator to raise money basically via public offerings of its shares.

The recommended public concern will make up 2.04 crore show 1.47 crore fresh shares and an offer-for-sale (OFS) of 56.9 lakh shares by marketer Binod Kumar Agarwal, the draft paper revealed. Offer for Sale implies the marketers (owners) selling their shares to increase extra funds for the firm.

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Apparently, the company carried December 28 in 2015 submitted the draft documents for an IPO of 1.67 crore equity shares and called it off later.

Marketer Agarwal holds 88.38 percent in the mass packaging options business, the draft paper showed.

The company is participated in business of manufacturing and selling of Flexible Intermediate Mass Containers (FIBCs)– large adaptable bags and various other industrial product packaging items such as woven sacks, woven material and slim fabric, and tapes in the Indian domestic market and overseas.

It accommodates clients from diverse markets like chemicals, agrochemicals, food mining, garbage disposal industry, agriculture sector, lubricants and edible oil by supplying them FIBC products for transport functions and their packaging need.

According to the draft, the firm will use Rs 57.3 crore out of the web fresh issue proceeds for repaying financial obligations, Rs 24.24 crore for working funding needs, and the staying quantity for general company functions.

At The Same Time, Mumbai-based Stallion India Fluorochemicals has actually submitted a draft red herring prospectus with the monetary markets regulator, the Stocks and Exchange Board of India for its going public (IPO).

The recommended going public (IPO) will certainly be a mix of 1,78,58,740 fresh equity shares and an offer-for-sale (OFS) of 43,02,656 equity shares by marketer Shazad Sheriar Rustomji, the paper said.

Shazad Sheriar Rustomji holds 94.60 percent stake in the business, and 5.37 percent shares are held by the public shareholder Geetu Yadav, the record showed.

Stallion remains in business of selling cooling agent gases and commercial gases and related products. Its main service contains debulking, blending and handling of refrigerant and Commercial gases and selling of pre filled containers.

It has more than 20 years of considerable experience in this domain.

Supposedly, Stallion India had withdrawn its previous draft documents filed with the regulator for an initial public offering on December 18, 2023.

The internet profits of the fresh problem will certainly be utilised in funding incremental functioning capital needs of the business; financing capital investment demands for its semi-conductor and specialized gas debulking and mixing facility (Khalapur, Maharashtra); funding capital expenditure needs for cooling agent debulking and blending center (Mambattu, Andhra Pradesh); and basic company purposes., the DRHP file revealed. (ANI).

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