Home / Markets / Ipo /  Paradeep Phosphates IPO share allotment announced, all eyes now on listing

The initial public offer (IPO) of Paradeep Phosphates was subscribed 1.75 times on the last day of its subscription. The issue received bids for 47,02,00,150 shares against 26,86,76,858 shares on offer.

The finalization of basis of share allotment of Paradeep Phosphates IPO has been done, therefore the allotment application can be checked on IPO's registrar Link Intime's website here or on the BSE website here.

After commanding premium in the last few sessions, there has been no GMP activity for Paradeep Phosphates shares in the grey market today. Shares of the company are expected to list on the stock exchanges BSE and NSE this week on Friday, May 27, 2022.

The initial public offer (IPO) had a fresh issue aggregating up to 1,004 crore and an offer for sale (OFS) of up to 11,85,07,493 equity shares. Price range for the offer was 39-42 per share. Paradeep Phosphates raised a little over 450 crore from anchor investors, ahead of its share sale.

Proceeds of fresh issue will be used to partly finance the acquisition of the fertiliser manufacturing facility in Goa, payment of debt and general corporate purposes. 

JM Financial Limited, SBI Capital Markets Limited, ICICI Securities Limited and Axis Capital were the managers to the offer.

Paradeep Phosphates is primarily engaged in manufacturing, trading, distribution and sales of a variety of complex fertilisers such as Di-Ammonium Phosphate (DAP) and NPK fertilisers.

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