Paradeep Phosphates Ipo Subscribe 29 Percent In First Day On 17 May 2022 Check All Details Here

Paradeep Phosphates IPO: Today the IPO of Paradeep Phosphates, a...

Paradeep Phosphates IPO: Today the IPO of Paradeep Phosphates, a non-urea fertilizer company, has been opened for subscription in the market. The company’s IPO will be open from May 17 to May 19. If you are not able to invest today, then you have two more days. Let us tell you that the IPO has been subscribed 29 percent on the first day.

How much was subscribed IPO on the first day?
According to the data available on NSE, out of 26,86,76,858 shares offered under the IPO, bids have been received for 7,86,87,000 shares. The reserve share for retail investors was subscribed 57 per cent and the category of non-institutional investors was subscribed six per cent.

1,004 crores to be fresh issue
Let us tell you that under the IPO, fresh shares worth up to Rs 1,004 crore have been issued and the promoters and other shareholders of Paradip have come with an offer for sale (OFS) of 11,85,07,493 equity shares. Through IPO, the government will sell 19.55 percent stake in the company. Paradip Phosphates on Friday raised Rs 450 crore from anchor investors.

Let’s check the details of IPO-

  • Paradeep Phosphates IPO
  • When will it be closed – 19 May 2022
  • Price Band – Rs 39 – 42 per share
  • Minimum investment – Rs 13,650
  • Lot Size – 350 Shares
  • Issue Size – 1501 Crore

Who are the company’s lead managers?
Let us tell you that the list of Lead Managers of the company includes Axis Capital, ICICI Securities, JM Financial Consultants Pvt and SBI Capital Markets and the names of Registrar Link Intime India Pvt.

When can allotment and listing take place?
It is believed that the allotment of shares of the company can be done on May 24. At the same time, listing is expected in the market on May 27.

Where will the funds be used?
Let us tell you that the company will finance some part of the acquisition of Goa Facility through this money. Along with this, the money will be used to pay off the debt and settle the corporate work.

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