Today's Paradeep Phosphates IPO GMP, Share Allotment and Listing Date, and Other Important Information

  • May 21, 2022, 12:14 p.m.

India’s second-largest manufacturer of non-urea fertilisers and di-ammonium phosphates (DAP) in the private sector, Paradeep Phosphates Limited, has just ended its initial public offering (IPO). The Paradeep Phosphates IPO received a decent response from bidders and got subscribed 1.75 times, as investors booked 47,02,00,150 shares against the issue size of 26,86,76,858 shares up for sale. This was backed by the superb response by qualified institutional buyers, who rushed in to book their slots. The Paradeep Phosphates IPO, which looks to mop up Rs 1,501 crore, had its price band fixed at Rs 39 to Rs 42 per equity share.

Paradeep Phosphates IPO Subscription Status

As mentioned earlier, Paradeep Phosphates IPO saw a decent subscription rate of 1.75 times as investors booked 1.75 times or 47,02,00,150 shares against the issue size of 26,86,76,858 shares up for sale. This was backed by the superb response by qualified institutional buyers, who subscribed 3.01 times, or 24,32,41,250 shares, against the 8,07,05,162 equity shares reserved for them. On the other hand, the retail individual investors (RIIs) category got subscribed by 1.37 times with bids of 18,06,17,150 equity shares on a consolidated basis against the reserved portion of 13,15,80,187 equity shares. However, the non-institutional investors' category, which had seen a tepid response from Day 1, did not get fully booked as investors only subscribed 82 per cent, or 4,63,41,750 shares, against their total portion size of 5,63,91,509 equity shares.

According to grey market observers, Paradeep Phosphates IPO GMP (grey market premium) today is Rs 3, which is unchanged from yesterday’s grey market premium. Market observers said that Paradeep Phosphates IPO GMP today is Rs 3, which means the grey market is expecting that Paradeep Phosphates IPO listing would be around Rs 45 (Rs 42 + Rs 3), which is around 7 per cent higher than the Paradeep Phosphates IPO price band.

IPO: Objectives of Issue

Through the Paradeep Phosphates IPO, the company has brought a fresh issue of Rs 1004 crore and an offer for sale of Rs 498 crore by the selling shareholders, with the government of India selling its entire stake. The objects of the offer are to facilitate part financing of the acquisition of the Goa facility for Rs 520 crore and the repayment/prepayment of some of the company’s borrowings, where Rs 300 crore will be utilised. The remaining portion will be used for general corporate purposes.

Paradeep Phosphates IPO Share Allotment, Listing Date

The Paradeep Phosphates IPO share allotment will be done on May 24, Tuesday, with the issue being closed for bidding on Friday, May 20. The Paradeep Phosphates IPO was open from May 18 to May 20, giving a three-day booking window for bidders. Once the share allotment is done, losing bidders will receive their refunds on May 25, while those who win the bids for the Paradeep Phosphates IPO shares will get credits to their demat accounts on May 25. The Paradeep Phosphates IPO listing date is May 27, when the issue will debut on both the NSE and BSE.

Author : Rajdhani Delhi Representative

Rajdhani delhi representative

Related News