Indian Phosphate Limited IPO Overview
The Indian Phosphate IPO is a book-built issue aiming to raise ₹67.36 crores through a fresh issue of 68.04 lakh shares. The IPO is open for subscription from August 26 to August 29, 2024, with the allotment expected on August 30 and the listing on the NSE SME scheduled for September 3, 2024. The price band is set at ₹94 to ₹99 per share, with a minimum investment of ₹118,800 for retail investors (1,200 shares) and ₹237,600 for HNIs (2 lots). Beeline Capital Advisors Pvt Ltd is the lead manager, Bigshare Services Pvt Ltd is the registrar, and Spread X Securities is the market maker. Refer to the Indian Phosphate IPO RHP for detailed information.
Indian Phosphate Limited IPO Important dates
Indian Phosphate IPO opens on August 26, 2024, and closes on August 29, 2024.
| IPO Open Date | Monday, August 26, 2024 |
| IPO Close Date | Thursday, August 29, 2024 |
| Basis of Allotment | Friday, August 30, 2024 |
| Initiation of Refunds | Monday, September 2, 2024 |
| The credit of Shares to Demat | Monday, September 2, 2024 |
| Listing Date | Tuesday, September 3, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 29, 2024 |
Indian Phosphate Limited Financial Performance
Indian Phosphate Limited’s revenue decreased by -7%, and profit after tax (PAT) dropped by -27% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 25,518.6 | 17,407.45 | 10,789.93 | 6,313.71 |
| Revenue | 71,757.81 | 77,093.2 | 55,838.56 | 41,501.81 |
| Profit After Tax | 1,210.21 | 1,659.53 | 1,616.61 | 509.44 |
| Net Worth | 8,099.06 | 6,751.8 | 5,092.27 | 3,475.66 |
| Reserves and Surplus | 6,280.56 | 6,480.37 | 4,820.84 | 3,204.23 |
| Total Borrowing | 4,023.17 | 1,535.48 | 1,830.58 | 434.04 |
Key Performance Indicator
The market capitalization of Indian Phosphate IPO is Rs 247.4 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 18.14% |
| ROCE | 20.93% |
| RoNW | 16.63% |
| P/BV | 2.23 |
| PAT Margin (%) | 1.91 |
Indian Phosphate Limited IPO Objectives
The proceeds from the Fresh Issue will be allocated for the following purposes:
- Establishing a new manufacturing facility at SIPCOT Industrial Park Phase-I, Kudikadu Village, Cuddalore District (Plot No. C-17/A), Tamil Nadu, for the production of Sulphuric Acid, LABSA 90%, and Magnesium Sulphate.
- Meeting working capital requirements.
- Funding general corporate purposes.
Indian Phosphate Limited IPO Lot Size
Investors can bid for a minimum of 1200 shares and in multiples thereof. The table below depicts the minimum and maximum investment by retail investors and HNI regarding shares and amounts.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹118,800 |
| Retail (Max) | 1 | 1200 | ₹118,800 |
| HNI (Min) | 2 | 2,400 | ₹237,600 |
Indian Phosphate Limited IPO Details
| IPO Date | August 26, 2024 to August 29, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹94 to ₹99 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 6,804,000 shares (aggregating up to ₹67.36 Cr) |
| Fresh Issue | 6,804,000 shares (aggregating up to ₹67.36 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE Emerge |
| Shareholding pre-issue | 18,185,609 |
| Shareholding post issue | 24,989,609 |
| Market Maker portion | 373,200 shares |
Indian Phosphate Limited: Company Overview and Services
Founded in 1998, Indian Phosphate Limited specializes in the production of Linear Alkyl Benzene Sulfonic Acid (LABSA 90%), an anionic surfactant essential in manufacturing various washing powders, cakes, toilet cleaners, and liquid detergents.
The company also produces “Single Super Phosphate” (SSP) and “Granules Single Super Phosphate” (GSSP), available in both powder and granule forms, adhering to the Fertilizer Control Regulation of India. These products are fortified with Zinc and Boron.
Indian Phosphate’s manufacturing facility is strategically located in Girwa district, Udaipur, Rajasthan, near key raw materials—sulphuric acid (98%) and rock phosphate. The company sources Linear Alkyl Benzene (LAB), another crucial raw material, from IOCL Vadodara, Nirma Ltd. Vadodara, and Reliance Industries Ltd. Patalganga.
The company has a strong presence in major states across India, including Punjab, Bihar, Gujarat, Haryana, Madhya Pradesh, Maharashtra, Rajasthan, Uttar Pradesh, Himachal Pradesh, West Bengal, and Uttarakhand.
As of March 31, 2024, Indian Phosphate Limited employed 105 people.
Indian Phosphate Limited IPO GMP Details
Indian Phosphate SME IPO last GMP is ₹100, last updated Aug 29th 2024 04:25 PM. With a price band of 99.00, the Indian Phosphate SME IPO‘s estimated listing price is ₹199 (cap price + today’s GMP). The expected percentage gain/loss per share is 101.01%.
Key Highlights:
- Retail Subject to Sauda: ₹82,100
- Lowest GMP: ₹0
- Highest GMP: ₹90
Based on the last eight sessions of grey market activity, the GMP trend is pointing upward, signalling a strong listing expectation. So stay tuned for the latest price trends and expected listing prices for the Indian Phosphate SME IPO.
| GMP Date | IPO Price | GMP | Sub2 Sauda Rate | Estimated Listing Price | Last Updated |
|---|---|---|---|---|---|
| 29-08-2024 Close | 99.00 | ₹100  |
91200 | ₹199 (101.01%) | 29-Aug-2024 16:25 |
| 28-08-2024 | 99.00 | ₹135  |
123100 | ₹234 (136.36%) | 28-Aug-2024 23:32 |
| 27-08-2024 | 99.00 | ₹125 |
114000 | ₹224 (126.26%) | 27-Aug-2024 23:29 |
| 26-08-2024 Open | 99.00 | ₹110 |
100300 | ₹209 (111.11%) | 26-Aug-2024 23:31 |
| 25-08-2024 | 99.00 | ₹90  |
82100 | ₹189 (90.91%) | 25-Aug-2024 23:29 |
| 24-08-2024 | 99.00 | ₹90 |
82100 | ₹189 (90.91%) | 24-Aug-2024 23:26 |
| 23-08-2024 | 99.00 | ₹90 |
82100 | ₹189 (90.91%) | 23-Aug-2024 23:25 |
Indian Phosphate Limited IPO subscription status
Indian Phosphate IPO subscribed 264.97 times. The public issue subscribed 237.51 times in the retail category, 181.58 times in QIB, and 440.20 times in the NII category by August 29, 2024.
| Investor Category | Subscription (times) | Shares Offered* | Shares bid for | Total Amount (Rs Cr.)* |
|---|---|---|---|---|
| Anchor Investors | 1 | 19,28,400 | 19,28,400 | 19.09 |
| Market Maker | 1 | 3,73,200 | 3,73,200 | 3.69 |
| Qualified Institutions | 181.58 | 12,86,400 | 23,35,89,600 | 2,312.54 |
| Non-Institutional Buyers*** | 440.20 | 9,64,800 | 42,47,06,400 | 4,204.59 |
| Retail Investors | 237.51 | 22,51,200 | 53,46,93,600 | 5,293.47 |
| Total ** | 264.97 | 45,02,400 | 1,19,29,89,600 | 11,810.60 |
Total Application: 445,578
Note:
-
*: “Shares Offered” and “Total Amount” are calculated based on the upper price of the issue price range.
-
**: The portion of anchor investors (or market makers) is not included in the total number of shares offered.
- ***: Market Maker portion is not included in NII/HNI.
Indian Phosphate IPO Subscription Details (times)
| Date | QIB | NII* | Retail | Total |
|---|---|---|---|---|
| Day 1 Aug 26, 2024 |
0.39 | 8.50 | 20.33 | 12.10 |
| Day 2 Aug 27, 2024 |
3.63 | 26.50 | 62.06 | 37.75 |
| Day 3 Aug 28, 2024 |
8.90 | 61.84 | 132.55 | 82.07 |
Indian Phosphate Limited IPO Allotment status
Indian Phosphate IPO allotment is expected on August 30, 2024.
Indian Phosphate IPO allotment status is not available at this time. Indian Phosphate IPO – The allotment status will be available once the basis of allotment is finalized. Please revisit us to check the latest updates for the Indian Phosphate Limited IPO allotment status.
To check the Indian Phosphate IPO allotment status, follow the steps below:
- Click on the allotment status check button below.
- Select Company Name.
- Enter your PAN Number, Application Number, or DP Client ID (Anyone).
- Click on Search.
When you secure the allotment, you will receive the credit for equivalent shares in your Demat account.
If you have any concerns or queries about the allotment status, contact Bigshare Services Pvt Ltd either by phone or email. Investors can call +91-22-6263 8200 or send an email with all relevant details to ipo@bigshareonline.com.
Indian Phosphate Limited Contact Details
Indian Phosphate Limited
Plot 638, Sector-11,
Udaipur City, Girwa,
Girwa – 313001
Phone: 0294-2946959
Email: investor@indianphosphate.com
Website: http://www.indianphosphate.com/
Here is the list of Upcoming SME IPO in August 2024
Disclaimer: Investing in Initial Public Offerings (IPOs) involves substantial risk, and financial returns are not guaranteed. The information provided should not be construed as financial or investment advice. Prospective investors are advised to consider their economic situation, investment objectives, and risk tolerance before participating in an IPO.
It is recommended to consult with a qualified financial advisor or professional before making any investment decisions. Past performance is not indicative of future results. Investments in IPOs may be subject to market risk, including the potential loss of principal.
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