Price Band fixed at ₹ 39 per Equity Share to ₹ 42 per Equity Share of face value of ₹ 10 each

Offer to remain open from May 17, 2022 to May 19, 2022

Bids can be made for a minimum of 350 Equity Shares and in multiples of 350 Equity Shares thereafter

MUMBAI, MAY 12, 2022 (GPN): Paradeep Phosphates Limited (The “Company”) to open its initial public offering (the “Offer”) on May 17, 2022. The Anchor Investor Bid/Offer Period is one Working Day prior to Bid/Offer Opening Date, that is, May 13, 2022.

The Price Band of the Offer has been fixed at ₹ 39 per Equity Share to ₹ 42 per Equity Share of face of ₹ 10 each. Bids can be made for a minimum of 350 Equity Shares and in multiples of 350 Equity Shares thereafter.

The Issue offer comprises (i) fresh issue of equity shares face value ₹ 10 each share aggregating to ₹ 10,040 million (The “Fresh Issue”) and (ii) Offer for Sale up to 118,507,493 equity shares by Promoter Selling Shareholders and GoI Selling Shareholder (The “Offer for Sale”). 

The Company intends to utilise net proceeds from fresh issue towards (i) Part-financing the acquisition of the Goa Facility; (ii) Repayment/prepayment of certain of our borrowings; and (iii) General corporate purposes.  

The offer for sale comprises of up to 6,018,493 equity shares by Zuari Maroc Phosphates Private Limited and up to 112,489,000 equity shares by The President of India, acting through the Ministry of Chemicals and Fertilizers, Government of India. (The “Promoter Selling Shareholders” and GoI Selling Shareholder) 

The Offer is being made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”) read with Regulation 31 of the SEBI ICDR Regulations and in compliance with Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50 % of the Offer shall be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”, the “QIB Portion”), provided that our Company may, in consultation with the Book Running Lead Managers, allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to all QIB Bidders (other than Anchor Investors). 

Further, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders, of which (a) one-third portion shall be reserved for applicants with application size of more than ₹200,000 and up to ₹1,000,000; and (b) two-thirds portion shall be reserved for applicants with application size of more than ₹1,000,000, provided that the unsubscribed portion in either of such sub-categories may be allocated to applicants in the other sub-category of Non-Institutional Bidders, subject to valid Bids being received at or above the Offer Price Not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. All potential Bidders (except Anchor Investors) are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process providing details of their respective ASBA accounts, and UPI ID in case of RIBs using the UPI Mechanism, if applicable, in which the corresponding Bid Amounts will be blocked by the SCSBs or by the Sponsor Bank under the UPI Mechanism, as the case may be, to the extent of respective Bid Amounts. Anchor Investors are not permitted to participate in the Offer through the ASBA process.

The Equity Shares offered in this Offer are proposed to be listed on both BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”, together with BSE, the “Stock Exchanges”). 

Axis Capital Limited, ICICI Securities Limited, JM Financial Limited and SBI Capital Markets Limited are the Book Running Lead Managers to the Offer.Ends

The RHP shall be available on the website of SEBI at www.sebi.gov.in, websites of the Stock Exchanges i.e. BSE Limited and National Stock Exchange of India Limited at www.bseindia.com and www.nseindia.com, respectively, and is available on the websites of the BRLMs, i.e. Axis Capital Limited, ICICI Securities Limited, JM Financial Limited and SBI Capital Markets Limited at www.axiscapital.co.in, www.icicisecurities.com, www.jmfl.com and www.sbicaps.com, respectively.