15-Year-Old Kenyan Girl With Rare Autoimmune Disease Successfully Treated With Cell-based Therapy-Maharashtra Government Inks MoU with IBM Technology for AI Centers-Governor C. P. Radhakrishnan visits Prime Minister Narendra Modi-AMRIT MAHOTSAV OF SHREE MARKET SILK MERCHANTS ASSOCIATION ENDED ON 14TH APRIL, 2025 WITH ALL ITS GRANDEUR-Agra Startup Jatbat Playmax Media Aims to Entertain and Educate with Diverse Book Selection-Indkal Technologies Cements It's Mumbai Presence through Strategic Partnership with Digi1 Electronics-Shree Market Silk Merchants Association (SMSMA) to Celebrate Completion of Amrut Mahotsav on 14th April-SUPREME COURT TAKES COGNIZANCE OF CHILD SAFETY CONCERNS IN DIGITAL SPACE-TechnoServe and The Solvent Extractors’ Association of India Sign Landmark MoU to Advance Edible Oil Fortification-'Economic Nationalism' to Strengthen Domestic Supply Chains at FICCI’s 98th Foundation Day-Piyush Goyal

Indian Phosphate Limited Rs 67.36 Cr IPO Opens on 24 August 2024 Price Band Set at Rs 94 – 99 per share

Posted By: Sachin Murdeshwar August 22, 2024

IPO HIGHLIGHTS:

  • Price Band of Rs 94/ – Rs 99/- per equity share bearing face value of Rs. 10/- each (“Equity Shares”)
  • Issue Size: Rs 67.36 Cr.
  • Anchor Bid/Offer date: Friday August, 23, 2024.
  • Retail, HNI, QIB Bid/Offer Opening Date – Monday, August 26, 2024 and Bid/Offer Closing Date – Thursday, August 29, 2024.
  • Bid Lot Size: 1200 Equity Shares 
  • Anchor Quota: 19,28,400 Equity Shares
  • QIB Quota: 12,86,400 Equity Shares
  • NII Quota: 9,64,800 Equity Shares
  • Retail Quota: 22,51,200 Equity Shares
  • Market Maker Quota: 3,73,200 Equity Shares

MUMBAI, 22 AUGUST , 2024 (GPN): Udaipur based leading manufacturer of Linear Alkylbenzene Sulphonic Acid 90% (LABSA 90%), Single Super Phosphate (SSP), Granules Single Super Phosphate (GSSP) and Speciality Chemicals producer Indian Phosphate Limited will open it’s Initial Public Offer (IPO) for subscription on Monday, August 26, with a price band set at Rs. 94 – 99 per share. The IPO, which is entirely a fresh issue of 68.04 lakh shares, aims to raise about Rs. 67.36 crore.

The Indian Phosphate Limited IPO will close on Thursday, August 29. The bidding for the Anchor portion will open on Friday, August 23. The IPO allotment date is Friday, August 30 and the share listing date on NSE SME is Tuesday, September 3.

The IPO lot size for an application is 1,200 shares, and retail investors are required to invest a minimum Rs. 1,18,800.

Beeline Capital Advisors Pvt Ltd is the book-running lead manager of the Indian Phosphate IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.

The net proceeds of the issue will be used to set up a new manufacturing facility for sulphuric acid, LABSA 90 per cent, and magnesium sulphate at SIPCOT Industrial Park in Cuddalore District, TamilNadu. Some parts of the net proceeds will be used to meet working capital requirements and for general corporate purposes.

Indian Phosphate Ltd was incorporated in the year 1998. Over the years It has built deep expertise in manufacturing Linear Alkylbenzene Sulphonic Acid LABSA 90%, popularly known as LABSA, it is an anionic surfactant used in the formulation of all types of detergent powders, cakes, toilet cleaners and liquid detergents. It is also engaged in the manufacturing of “Single Super Phosphate” (SSP) fertilizer and “Granules Single Super Phosphate” (GSSP) Fertilizer, which is preferred phosphate fertilizer as it provides much needed nutrients to soil and is cheaper and readily available as compared to other phosphate fertilizer.
The company have employed state-of-the-art manufacturing process and control technology in their Chemical and Fertilizer plant. Current production capacity of LABSA 90% stands at 350 MT/ day and that of SSP – 400 MT/day.
The company markets its range of Single Super Phosphate under the brand name “Ankur SSP” in Uttar Pradesh, Punjab, Uttarakhand, Bihar, Madhya Pradesh, Rajasthan, Maharashtra, Haryana, Gujarat, Himachal Pradesh and West Bengal through dedicated channel partners in private sector as well as institutional channels. The company supply LABSA 90% directly to their B2B customers at their various production sites.

About the Author

Sachin Murdeshwar
Sachin Murdeshwar is a Sr.Journalist and Columnist in several Mainline Newspapers and Portals.He is an ardent traveller and likes to explore destinations to the core.

Be the first to comment on "Indian Phosphate Limited Rs 67.36 Cr IPO Opens on 24 August 2024 Price Band Set at Rs 94 – 99 per share"

Leave a comment

Your email address will not be published.


*