HomeIPOParadeep Phosphates IPO opens tomorrow; Should you subscribe?

Paradeep Phosphates IPO opens tomorrow; Should you subscribe?

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Paradeep Phosphates IPO opens tomorrow; Should you subscribe? | Paradeep Phosphates IPO Good or Bad? | Check the details below

Paradeep Phosphates IPO opens tomorrow

Paradeep Phosphates is the second-largest private-sector manufacturer of non-urea fertilizers in India and the second-largest private-sector manufacturer in terms of Di-Ammonium Phosphate (“DAP”) volume sales.The issue consists of fresh equity shares worth Rs 1,004 crore, whereas existing shareholders and promoters will offload shares worth Rs 497.73 crore. The issue aggregates to Rs 1,501.73 crore

Date: Paradeep Phosphates IPO subscription to start from May 17 to May 19, 2022

Price band: The price range for the offer has been fixed at Rs 39 – 42 per share.

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IPO Lot size: Investors can bid for a minimum of 350 equity shares and in multiples thereof. At the upper end of the price band, one lot is worth Rs 14,700 and maximum of 13 lots, i.e. 4550 equity shares and its worth Rs. 1,91,100

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Grey market premium: As per the sources, the Paradeep Phosphates IPO is trading at a premium of Rs 3 per shares in the grey market

Investor categories: Fifty percent of the issue size has been reserved for qualified institutional buyers (QIBs), 15 percent for non-institutional investors, and 35 percent for retail investors.

Peers: As per the Paradeep Phosphates IPO RHP, Coromandel International Limited, Chambal Fertilizers Chemicals Limited and Deepak Fertilizers and Petrochemicals Limited are the peer group for Paradeep Phosphates Limited

Promoters: Zuari Maroc Phosphates Private Limited, Zuari Agro Chemicals Limited, OCP S.A and President of India, Acting through the Ministry of Chemicals and Fertilizers, Government of India are the company promoters

Lead managers: Axis Capital Limited, ICICI Securities Limited, JM Financial Limited and SBI Capital Markets Limited are the book running lead managers to the issue.

Registrar: Link Intime India Private Limited is the Registrar for this issue.

Financials: Paradeep Phosphates reported a profit of Rs 2232.68 million for FY21, up from just Rs 300.48 million in FY20.

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