Paradeep Phosphates, Zuari Agro-Chemicals backed firm, has introduced a value band for its Rs 1,502 crore IPO, at Rs 39-42 apiece. The subject will open for subscription on 17 May and shut on 19 May, whereas the anchor investor bids will open on Friday, 13 May. The public subject consists of a contemporary subject of shares price Rs 1,004 crore whereas an offer-for-sale of as much as 11.85 crore shares by present shareholders and promoters. As a part of the OFS, promoting shareholders — Zuari Maroc Phosphates Pvt Ltd (ZMPPL) will offload 60.18 lakh fairness shares and Government of India will promote as much as 11.24 crore fairness shares.
Investors can bid for lots of 350 shares, and in multiples thereafter. Up to 50 per cent of the online supply can be reserved for Qualified Institutional Buyers (QIBs), 15 per cent for Non-Institutional Investors (NIIs), and remaining 35 per cent for retail buyers. The shares are prone to checklist on BSE and National Stock Exchange (NSE) on 27 May 2022.
Axis Capital, ICICI Securities, JM Financial and SBI Capital Markets are the e-book operating lead managers to the problem. Link Intime India Private Ltd would be the registrar to the problem. Upon profitable itemizing in inventory exchanges, Paradeep Phosphates will be a part of the likes of Coromandel International, Chambal Fertilizers Chemicals, and Deepak Fertilizers and Petrochemicals. The common business peer group P/E ratio stands at 15.73x. The agency intends to utilise the proceeds from the contemporary subject in the direction of part-financing the acquisition of a Goa facility and compensation and prepayment of sure of its borrowings.
Axis Capital, in an IPO notice, stated that Paradeep Phosphates is the second largest personal sector producer of non-urea fertilizers in India and 2nd largest by way of Di-Ammonium Phosphate (DAP) quantity gross sales for the 9 months ended December 31, 2021. It is primarily engaged in manufacturing, buying and selling, distribution and gross sales of quite a lot of complicated fertilizers reminiscent of DAP, three grades of NitrogenPhosphorus-Potassium (NPK) (particularly NPK-10, NPK-12 and NP-20), Zypmite, Phospho-gypsum and Hydroflorosilicic Acid (HFSA). Paradeep Phosphates can also be engaged within the buying and selling, distribution and gross sales of Muriate of Potash (MOP), Ammonia, Speciality Plant Nutrients (SPN) and City compost. Their fertilizers are marketed underneath a few of the key model names available in the market ‘Jai Kisaan – Navratna’ and ‘Navratna’.
Paradeep Phosphate’s manufacturing facility is situated in Paradeep, Odisha and features a DAP and NPK manufacturing facility, a Sulphuric acid manufacturing plant and a Phosphoric acid manufacturing plant. In addition, the plant has 3 operational concentrators to pay attention weak Phosphoric acid into sturdy Phosphoric acid.
Source: www.financialexpress.com”