The initial public offering (IPO) of Paradeep Phosphates Ltd was fully subscribed helped by strong demand from Qualified Institutional Buyers (QIBs). The IPO was opened during May 17 -19 and received 1.75 times subscription.
Paradeep Phosphates IPO received bids for 47.02 crore shares against 26.87 crore shares on the offer. The retail investors bid for 1.37 times the number of shares reserved for them, while the portion reserved for Non-Institutional Investors’ was subscribed just 82%. The portion set aside for QIB received 3.01 times subscription.
The company sold the shares at a price band of Rs 39 to 42 apiece in the public issue. The Rs 1,501.73-crore worth IPO comprised fresh issuance of equity shares worth Rs 1,004 crore and an offer for sale (OFS) of 11.85 crore shares by promoters and other selling shareholders.
Paradeep Phosphates Ltd will finalise the share allotment on May 24, 2022. Check out the important dates and details about the IPO below:
Paradeep Phosphates IPO – Important Dates & Details
|Issue Opening Date||May 17, 2022|
|Issue Closing Date||May 19, 2022|
|IPO Size||Rs 1,501.73 crore|
|Price Band||Rs 39 – 42 per share|
|Bid Lot||350 shares and in multiples thereof|
|Face Value||Rs 10 per share|
|IPO Allotment Date||May 24, 2022|
|Initiation of Refunds||May 25, 2022|
|Credit of Shares to Demat||May 26, 2022|
|IPO Listing Date||May 27, 2022|
Documents/details you will require to check Paradeep Phosphates IPO allotment status:
DP client ID
How to check Paradeep Phosphates IPO allotment status?
Investors who had bid for the Paradeep Phosphates IPO can check the IPO allotment status of their application online, through these 2 modes:
The websites of BSE/NSE OR
The registrar – Link Intime India Pvt Ltd
How to check Paradeep Phosphates IPO allotment status through BSE/NSE website:
Step 1: Visit https://www.bseindia.com/investors/appli_check.aspx
Step 2: Select ‘Equity’ in ‘Issue Type’
Step 3: Select ‘Paradeep Phosphates Ltd.’ in the Issue Name
Step 4: Enter the Application Number or PAN
Step 5: Verify and click on ‘I’m not a robot’
Step 6: Click on ‘Search’
How to check Paradeep Phosphates IPO allotment status through the registrar’s website:
Step 1: Visit https://linkintime.co.in/mipo/ipoallotment.html
Step 2: Select the Query by ‘PAN’, ‘Application No’ Or ’DPID/Client ID’
Step 3: Select ‘Paradeep Phosphates Ltd.’
Step 4: Enter the PAN, Application number or DPID/Client ID as per the selected option. Finally, click on the ‘Search’ button.
Here’s how a typical IPO allotment search result page will look like:
Paradeep Phosphates Ltd
|Sole/1st Applicant||Payal Jain|
|Cut off price||42|
|Securities Allotted||Amount Adjusted|
About – Paradeep Phosphates Ltd
Paradeep Phosphates Ltd is the second-largest private sector manufacturer of non-urea fertilisers and Di-Ammonium Phosphate (DAP) in terms of volume sales. The company manufactures a variety of complex fertilisers such as three grades of Nitrogen-Phosphorus-Potassium, DAP, Phospho-gypsum, Hydroflorosilicic Acid and Zypmite.
The company markets its fertilisers under the brand names Jai Kisaan-Navratna and Navratna. Its manufacturing facility located in Paradeep, Odisha, has a storage capacity of up to 120,000 MT, 65,000 MT, 55,000 MT and 35,000 MT of Phosphate Rock, Phosphoric acid, Sulphur and MOP, respectively.
Paradeep Phosphates distributes its products across 14 states in the country. Its network includes 4,761 dealers and over 67,150 retailers serving over 5 million farmers in India.
Financials – Paradeep Phosphates Ltd
Paradeep Phosphates Ltd has seen decent profit growth over the past three years. The company’s net profit rose to Rs 223.27 crore in FY21 from Rs 193.22 crore in FY20. The revenue increased to Rs 5,183.94 crore in FY21 as against Rs 4,227.78 crore in FY20.
Management – Paradeep Phosphates Ltd
Saroj Kumar Poddar Chairman and Non-executive Director and Narayanan Krishnan is the Executive Director and Managing Director of Paradeep Phosphates Ltd.
Soual Mohamed the Non-executive Director, while Kiran Dhingra, Marco Phillipus Ardeshir Wadia, Satyananda Mishra and Dipankar Chatterji are the Independent Directors of the company.
Sabaleel Nandy is the President and Chief Operating Officer, while Pranab Kumar Bhattacharyya is the Chief Manufacturing Officer – PPL Plant.
Alok Saxena is the General Manager and Head of Corporate Finance and Bijoy Kumar Biswal is the Chief Financial Officer of the company.