Paradeep Phosphates IPO, which was open for public subscription between May 18 and May 20, received a decent response from investors and was subscribed 1.75 times as 47,02.00,150 shares were bid at the issue size of 26,86,76,858 shares for sale. Shares will be allocated to investors on Tuesday (24 May).
Paradeep Phosphates IPO: Venus Pipes & Tubes IPO GMP
According to chanakyanipothi.com, the shares of Paradeep Phosphates Ltd (PPL) are currently trading at a premium of Rs 0.20 in the gray market, above the upper band of Rs 326. It is almost no gain from the issue price and yet as the highest issue price. It means the shares are trading in the gray market at Rs 326.2 each. It also indicates that the expected listing price of the company’s shares will be the same as the issue price. The premium fluctuates based on market sentiment.
Paradeep Phosphates IPO: how to check the allocation status?
According to the red herring prospectus, Paradeep Phosphates will finalize the allotment by Tuesday (May 24). Here’s how to check the assignment status:
a) Go to the official website of BSE or Bombay Stock Exchange. The link is (https://www.bseindia.com/investors/appli_check.aspx)
b) You will be taken to a page called ‘Status of Issue Application’
c) After landing on the page, click on the option ‘Equity’
d) From the drop-down menu that appears next to the problem name, select ‘Paradeep Phosphates Limited’
e) Write your application number on the page
f) Then write your Permanent Account Number or PAN
g) Click on the Captcha that says ‘I am not a Robot’ and click submit
h) After clicking the option, the details of your bid allocation status will be displayed. The status is only visible after the allocation of the shares has been completed.
Apart from this, applicants can also check the status of their allocation on the website of the registrar of the IPO, in this case Link Intime India (Click here: https://linkintime.co.in/MIPO/Ipoallotment.html). Applicants should select Paradeep Phosphates Limited – IPO from the drop-down menu and enter their PAN, Application Number or DP Client ID. and click search to view their assignment status.
Paradeep Phosphates IPO: Basic Details
The IPO of Paradeep Phosphates, which was expected to push up Rs 1,501 crore, had set its price range at Rs 39-Rs 42 per share share. Through the Paradeep Phosphates IPO, the company has brought a new issue of Rs 1004 crore and a sale offer of Rs 498 crore by the selling shareholders with the GOI selling its entire stake.
The listing of Paradeep Phosphates shares is likely to take place on May 27 on both the NSE and BSE.
The aim of the offer is to facilitate a partial financing of the acquisition of the Goa facility for Rs 520 crore and the repayment/prepayment of a portion of the company’s loans, which will use Rs 300 crore. The remainder will be used for general corporate purposes.
Paradeep Phosphates IPO: The Analyst Take
Axis Securities said in its report: “PPL’s tailwind is expected to outpace cost inflation headwinds. The strategic acquisition of the Goa plant will strengthen PPL’s position in the domestic fertilizer market, with a greater presence in key We believe that the IPO is priced at a price lower than fair value.
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