Shree Tirupati Balajee Agro Trading Co. Ltd IPO

Shree Tirupati Balajee Agro Trading Company Limited was originally incorporated as `Shree Tirupati Balajee Agro Trading Company Private Limited', as a private limited company under the provisions of Companies Act, 1956, pursuant to certificate of incorporation dated October 23, 2001 issued by the Registrar of Companies, Madhya Pradesh and Chattisgarh. Upon the conversion of the Company into a public limited company, pursuant to the approval accorded by its Shareholders at their Extra-Ordinary General Meeting held on November 20, 2023, the name of the Company was changed to Shree Tirupati Balajee Agro Trading Company Limited and a fresh certificate of incorporation consequent upon change of name upon conversion to public limited company was issued to the Company by the RoC on November 21, 2023.

The FIBC market in India has grown by almost 38% in the last 10 years. The installed capacity of the FIBC Industry grew by around 3.3% y-o-y (year-on-year) in 2022. It reaches around 205.5 million units by the end of 2023. The production of the FIBC industry declined by around 3.3% y-o-y in 2022 but increased by 8% y-o-y in 2023. The FIBC market was valued at 926 USD million in 2023 and has grow at a CAGR of 6.7% during the period, 2020-2023. FIBCs offer a convenient way to store and transport food products. This is because they are lightweight, easy to handle, and can be stacked to save space. India is a major exporter of food products. Foodgrade FIBCs are used to transport food products to overseas markets. Moreover, the FIBC industry's consumption is likely to reach 69 million units at the end of the 2024. It has been growing at a CAGR of 5% during 2020-2023, owing to the increasing consumption from the chemicals & petrochemicals, food & agriculture, construction & mining sectors. This expansion can be majorly attributed to expanding businesses such as food and agriculture, medicinal products, and chemicals and fertilizers. The global FIBC consumption market was valued at USD 4,647 million in 2022. The global FIBC consumption market was valued at USD 4,856 million in 2023. Under the global FIBC market, Type A Bulk Bags stand at 43% market share followed by Type B Bulk Bags, Type C Bulk Bags, and Type D Bulk Bags, which account for 37%, 14% and 7% respectively in 2023. The market growth is attributed to the rising need to reduce the weight of bulk packaging, the thriving food and pharmaceutical industries, and the expanding manufacturing and construction sectors in developing regions. Moreover, the FIBC market is expanding due to growing environmental concerns and the rising demand for lightweight, biodegradable bulk packaging materials, particularly in the pharmaceutical sector.

Shree Tirupati Balajee Agro Trading Company Limited is engaged in the business of manufacturing and selling of Flexible Intermediate Bulk Containers (FIBCs) i.e. large flexible bags and other industrial packaging products such as woven sacks, woven fabric and narrow fabric, tapes in the Indian domestic market and overseas. The Company offers customised products and cater to the bulk packaging solutions of its clients from diverse industries like chemicals, agrochemicals, food mining, waste disposal industry, agriculture industry, lubricants and edible oil by supplying them its FIBC products for transportation purposes and their packaging requirement. The Company provides a labor-saving alternative for packaging and transportation, making loading and unloading of vessels, containers, or trucks more efficient.