New Delhi: Indian Phosphate’s book-built IPO opened on Monday, August 26, 2024, with 68,04,000 shares on offer with a price band of Rs 94-99 per share. The minimum IPO lot size is 1,200 shares priced at Rs 1,18,000 for retail investors.
Indian Phosphate IPO subscription status
At the time of writing, Indian Phosphate’s IPO was subscribed 3.92X overall. While the 12,86,400 QIB investor category shares remained unsubscribed, according to Chittorgarh.com, the NII investor category had subscribed 2X of the 9,64,800 shares on offer.
Retail investors had bid 6.99X for the 22,51,200 shares on offer. The company raised Rs 189.37 crore from anchor investors on August 23, 2024, from the sale of 1,91,28,400 shares.
Indian Phosphate IPO GMP
Indian Phosphate IPO’s GMP stood at Rs 90 apiece, indicating a listing price of Rs 189 apiece, a 90.91 per cent premium over the IPO price of Rs 99 apiece, according to Investorgain. GMP or grey market premium is the extra sum that an investor is willing to pay in order to acquire one share of a company.
Indian Phosphate IPO key dates
Indian Phosphate IPO subscription opens on August 26, 2024 and closes on August 28, 2024. IPO allotment will be finalised on August 30, 2024. Indian Phosphate IPO listing date has been fixed on September 3, 2024.
The company’s stock will be listed on the NSE SME index. Indian Phsopate manufactures Alkyl Benzene Sulfonic Acid, or LABSA 90 per cent, a key ingredient used in washing powders, toilet cleaners and detergents. The company was founded in Udaipur, Rajasthan in 1998, The company has facilities in states such as Punjab, Bihar, Gujarat, UP, and West Bengal among other states.
Indian Phosphate reported a 7 per cent year-on-year decline in revenue to Rs 71,757.81 crore in the period ending March 31, 2024. Its profit was down 27 per cent to Rs 1,210.21 crore during the same period. Indian Phosphate aims to utilise the IPO proceeds towards setting up a new plant in Tamil Nadu’s Cuddalore district. IPO proceeds will also be used to meet the company’s working capital requirements and for general corporate purposes. Beeline Capital Advisors will act as the book running lead manager on the IPO, while Bigshare Services will act as registrar on the offer. Spread X Securities is acting as a market maker for the Indian Phosphate IPO.
(Disclaimer: This article is only meant to provide information. News9live.com does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
India Phosphate IPO worth Rs 67.36 crore opened on August 26, 2024 with over 68 lakh shares on offer. Check the GMP, subscription status and key dates. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
