Paradeep Phosphates Limited, India’s second largest manufacturer of non-urea fertilizers and diammonium phosphates (DAP) in the private sector, has just scrapped its initial public offering (IPO). Paradeep Phosphates IPO received reasonable response from bidders, and was subscribed 1.75 times, as investors booked 47,02,00,150 shares, compared to the issue size of 26,86,76,858 shares for sale. Were This was supported by the overwhelming response from authoritative institutional buyers, who arrived to book their slots. The price band of Paradeep Phosphates IPO, which is looking to raise Rs 1,501 crore, was set at Rs 39-42 per equity share.
Paradip Phosphates IPO Subscription Status
As mentioned earlier, Paradeep Phosphates IPO saw a reasonable subscription rate of 1.75 times as investors booked 1.75 times or 47,02,00,150 shares while issue sizes of 26,86,76,858 shares for sale. in comparison with. This was supported by the overwhelming response from authoritative institutional buyers, who had subscribed 3.01 times or 24,32,41,250 shares against their own 8,07,05,162 equity shares. On the other hand, the category of Retail Individual Investors (RIIs) subscribed 1.37 times with bids of 18,06,17,150 equity shares as compared to the reserved portion of 13,15,80,187 equity shares. However, the category of non-institutional investors, which saw good response from day one, was not fully booked as investors subscribed only 82% or 4,63,41,750 shares while their total shares Had sizes of 5,63,91,509 equity shares. .
Paradeep Phosphates IPO GMP today
According to Gray Market observers, Paradeep Phosphates IPO GMP (Gray Market Premium) today is Rs. Market observers said that Paradeep Phosphates IPO GMP is priced at Rs 3 today, which means that Gray Market expects that the listing of Paradeep Phosphates IPO will be around Rs 45 (Rs 42 + 3), which is higher than the price of Paradeep Phosphates IPO. About 7% more. Band
Paradip Phosphates IPO: Issue Objectives
Through the Paradeep Phosphates IPO, the company has come up with a fresh issue of Rs. Objectives of the offer For the acquisition of Goa facility for Rs. 520 crore, the financial portion and repayment / prepayment of some debts of the company, where Rs. 300 crore will be used. The rest will be used for general corporate purposes.
Paradeep Phosphates IPO share allotment, listing date
The allotment of IPO shares of Paradip Phosphates will take place on Tuesday, May 24, with the issue closing for bidding on Friday, May 20. The IPO of Paradip Phosphates was open between May 18 and May 20, leaving a three-day booking window for bidders. . Once the shre allotment is made, the losing bidders will receive their refund on May 25, while the winners of the bidding for the IPO shares of Paradeep Phosphates will receive credit in the demat accounts on May 25. Paradeep Phosphates IPO listing date is May 27, when the issue will debut on both NSE and BSE.