On Tuesday, May 24, Pradeep Phosphates’ public offering share allocation status (IPO) will be announced. On the last day of issue, Paradeep Phosphates has been subscribed 1.75 times. The company, mainly engaged in the production, trade, distribution and sales of a variety of complex fertilizers such as DAP, three kinds of nitrogen-phosphorus-potassium (NPK) (namely NPK-10, NPK-12 and NP-20), Zypmite, Phospho-gypsum and Hydroflorosilicic Acid (HFSA), are fixing the price band at Rs 39-42 per share for this IPO.
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: Subscription Status
Paradeep Phosphates’ IPO saw a decent subscription rate as investors booked 1.75 times or 47,02.00,150 shares against the issue size of 26,86,76,858 shares for sale. This was supported by the excellent response from qualified institutional buyers, who subscribed 3.01 times or 24,32,41,250 shares against the 8,07,05,162 shares reserved for them. On the other hand, the Private Retail Investors (RIIs) class was subscribed 1.37 times with bids of 18,06,17,150 shares on a consolidated basis against the reserved portion of 13,15,80,187 shares. However, the non-institutional investor category, which had received a lukewarm response from day 1, was not fully booked as investors subscribed for only 82 percent or 4,63,41,750 shares against their total portion size of 5,63,91,509 shares. †
Paradeep Phosphates IPO: GMP today
According to gray market observers, Paradeep Phosphates IPO GMP (Gray Market Premium) today is Rs 0.50 which is lower than yesterday’s gray market premium. Market observers said the IPO GMP of Paradeep Phosphates today is Rs 0.50 meaning the gray market expects the IPO quote of Paradeep Phosphates to be around Rs 42.5 (Rs 42 + Rs 0.50).
Paradeep Phosphates IPO: Assignment Status
How to Check Paradeep Phosphates IPO Allocation Status for BSE?
Step 1- Login to the BSE link — bseindia.com/investors/appli_check.aspx
Step 2- Enter the IPO Name – Paradeep Phosphates
Step 3- Enter the IPO Application Number
Step 4- Enter PAN Card Details
Step 5 – Click on ‘I am not a robot’
Step 6 – Click the ‘Send’ button
How to check Paradeep Phosphates IPO allocation status on KFintech website?
1) Login to the direct KFintech website — https://ris.kfintech.com/ipostatus/ipos.aspx
2) Select the IPO name (Paradeep Phosphates) from the drop-down list – LIC IPO
3) Now select application number/DPID/Client ID/PAN
4) Enter the application number followed by the Captcha code
5) Now click on ‘Submit’ option and your IPO application status will be available on your computer monitor or smartphone screen.
The net proceeds of the new issuance will be used to partially finance the acquisition of the Goa facility, repayment/prepayment of certain loans and for general corporate purposes, as per details in the red herring prospectus (RHP).
The listing of Paradeep Phosphates shares is likely to take place on Friday, May 27, 2022, on both the NSE and the BSE.
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