Tirupati Balaji Exim IPO

Tirupati Balaji Exim IPO is a fixed price issue comprising up to 85.40 lakh equity shares. The IPO consists of a fresh issue of up to 70.40 lakh equity shares and an offer for sale of up to 15.00 lakh equity shares.

Khandwala Securities Limited is the book-running lead manager to the issue, and Skyline Financial Services Private Limited is the registrar. The equity shares are proposed to be listed on the NSE SME. Key details such as the IPO dates, price band and lot size are yet to be announced.

About Tirupati Balaji Exim Limited

Tirupati Balaji Exim Limited was originally incorporated as Tirupati Balaji Exim Private Limited on June 15, 2001, under the Companies Act, 1956. The company was subsequently converted into a public limited company and renamed Tirupati Balaji Exim Limited in April 2025.

The company operates as an integrated wool processing and textile manufacturing business, catering primarily to business-to-business customers across domestic and international markets. It is engaged in the production and sale of wool tops, blended wool tops, scoured wool, worsted yarns, blended yarns, and wool-based woven fabrics, which are supplied to textile manufacturers, garment producers, exporters, and institutional buyers.

Tirupati Balaji Exim follows an integrated manufacturing model covering multiple stages of the wool processing value chain, including scouring, combing, spinning, dyeing, and weaving. The company operates a manufacturing facility in Ludhiana, Punjab, with installed capacities for wool tops, yarns, and wool-based fabrics, allowing it to maintain quality control and operational efficiency throughout the production process.

The company sources raw materials from both domestic and international markets, including countries such as Australia, New Zealand, China, Russia, and the United States. It also holds various industry certifications, including ISO 9001:2015, ISO 14001:2015, Global Organic Textile Standard (GOTS), Responsible Wool Standard (RWS), Global Recycled Standard (GRS), and OEKO-TEX certifications, supporting its presence in both domestic and export markets.

Tirupati Balaji Exim’s growth strategy focuses on expanding its customer base across India and overseas markets, strengthening long-term relationships with customers and suppliers, improving working capital efficiency, and leveraging its integrated manufacturing capabilities. The company also aims to benefit from increasing demand for wool-based products and supportive government initiatives within India’s textile sector.

Industry Outlook

• India’s textile sector is one of the country’s largest industries, contributing significantly to industrial production, exports, and employment, while serving as a key driver of manufacturing growth.
• The global textile market is projected to witness steady expansion over the coming years, supported by rising consumer demand, increasing disposable incomes, and evolving fashion preferences across developed and emerging economies.
• Demand for wool and wool-based products continues to be supported by applications across suiting, knitwear, shirting, home furnishings, automotive textiles, and specialised industrial uses.
• Government initiatives such as the Production Linked Incentive (PLI) Scheme, PM MITRA Parks, Amended Technology Upgradation Fund Scheme (ATUFS), National Technical Textiles Mission (NTTM), and SAMARTH are expected to support investment and modernisation in the textile industry.
• Growing urbanisation, increasing purchasing power, and the expansion of organised retail are creating additional opportunities for textile manufacturers across domestic markets.
• Sustainability and traceability have become important industry trends, increasing demand for certified products manufactured under recognised environmental and quality standards.
• The industry remains highly competitive, with success dependent on product quality, manufacturing efficiency, customer relationships, timely delivery, cost management, and the ability to adapt to changing market conditions.

Tirupati Balaji Exim IPO Objectives

The company proposes to utilise the net proceeds from the IPO for the following objectives:

• Prepayment and repayment of certain existing borrowings amounting to approximately ₹1,225 lakh.
• Funding the company’s working capital requirements to support business operations and future growth.
• Strengthening the company’s overall financial position through partial deleveraging of the balance sheet.
• Supporting increasing inventory and receivable requirements associated with business expansion.
• Meeting general corporate purposes in accordance with applicable regulations.
• Enhancing the company’s visibility, credibility, and market presence through listing on NSE Emerge.
• Providing a publicly traded platform for the company’s equity shares and improving liquidity for shareholders.

Financial Performance of Tirupati Balaji Exim Limited

Madhur Knit Crafts Limited Peer Details Comparison

Strengths and Opportunities of Tirupati Balaji Exim IPO

1. Integrated wool processing operations covering scouring, combing, spinning, dyeing, and weaving activities.
2. Diversified product portfolio comprising wool tops, yarns, blended products, and wool-based fabrics.
3. More than 2 decades of operating experience in the wool and textile industry.
4. Long-standing relationships with customers and suppliers, supporting repeat business generation.
5. Experienced promoter group and management team with extensive sector knowledge.
6. Recognised quality and sustainability certifications, including ISO, GOTS, RWS, GRS, and OEKO-TEX standards.
7. Presence in both domestic and export markets, providing geographical revenue diversification.
8. Potential to benefit from government textile sector initiatives, automation programmes, and export promotion measures.
9. Growing demand for premium, sustainable, and wool-based textile products in domestic as well as international markets.

Risks and Threats of Tirupati Balaji Exim IPO

1. High customer concentration, with the top customers contributing a significant proportion of total revenue.
2. Dependence on a limited number of key suppliers for procurement of raw wool and other materials.
3. Exposure to fluctuations in raw material prices, particularly imported wool.
4. Foreign currency risks arising from export sales and import purchases.
5. Working capital-intensive business operations requiring substantial inventory and receivable funding.
6. Intense competition from domestic and international textile and wool processing companies.
7. Potential disruptions in global supply chains due to geopolitical events, trade restrictions, or logistics challenges.
8. Dependence on key managerial personnel and experienced technical staff for business continuity.
9. Regulatory, environmental, labour, taxation, and compliance-related risks that may affect future operations and profitability.

Tirupati Balaji Exim IPO Reservation

Tirupati Balaji Exim IPO Promoter Holding

The promoters of the company are Sudesh Kumar Thapar, Veena Thapar, Rajesh Thapar, Shefali Thapar, Rohit Thapar and Anjali Thapar.

Tirupati Balaji Exim IPO Prospectus

• Tirupati Balaji Exim IPO DRHP

Tirupati Balaji Exim IPO Registrar and Lead Managers

Tirupati Balaji Exim IPO Lead Managers

• Khandwala Securities Limited

Registrar for Tirupati Balaji Exim IPO

Skyline Financial Services Private Limited

• Contact Number: 011-26812682
• Email Address: ipo@skylinerta.com

Tirupati Balaji Exim IPO Registrar

How To Apply for Tirupati Balaji Exim IPO Online?

1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
3. Select IPO: Find and select the Tirupati Balaji Exim IPO from the list of open IPOs.
4. Enter the Lot Size: Specify the number of lots you want to bid for.
5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

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Contact Details of Tirupati Balaji Exim IPO

Registered Office: 155, Industrial Area-A, Millerganj, Ludhiana, Punjab – 141003, India.

Phone: 82880 70689

E-mail: info@tbexim.com