Balaji Phosphates IPO: Balaji Phosphates Ltd has launched its IPO for subscription today (Friday, February 28) and will remain open until Tuesday, March 4. ₹66 and ₹70 face value per fair share ₹10 each. A minimum bid of 2,000 shares can be made, followed by bidding of 2,000 shares.
The structure of equity sharing distribution is as follows: the QIB anchor portion is allocated up to 12,24,000 shares; qualified institutional buyers will be entitled to 8,16,000 shares; non-institutional investors will receive at least 20,40,000 shares; retail individual investors guarantee no less than 27,20,000 shares; market makers will receive a distribution of 3,58,000 shares.
The company specializes in the manufacture of powder and granule formats and provides single superphosphate (SSP), as well as NPK pellets and mixed fertilizers as well as zinc sulfate, all following the Indian fertilizer control sequence. It sells its products under the “Ratnam” and “BPPL” brands to various customers including retailers, wholesalers and state-owned cooperatives, with the end users being farmers.
In fiscal year 2024, the company received revenue ₹Rs 15,154.63 lakh, while EBITDA OFF ₹12.097 million, shot ₹6.0405 million. In the five months ending August 24, the company reported revenue ₹Rs 53,3706 crore, Ebitda Off ₹57.255 lakh rupees, shot ₹4.1465 million.
Balaji Phosphate IPO Subscription Status
So far, the Balaji Phosphate IPO subscription status is 14%. The retail part was subscribed 16% and the NII part was pre-ordered 22%. The QIB part has not been booked yet.
According to data on Chittorgarh.com, the company received a bid for 8,86,000 shares on 14:49 IST, with the company’s shares with 62,28,000 shares.
Balaji Phosphate IPO Details
Balaji Phosphate IPO value ₹501,100, consisting of 59,40,000 shares, summarizing ₹415,800. Offer (OFS) shares total with 12,18,000 shares ₹85,300.
The proceeds from the IPO will be allocated for capital improvements to establish warehouses at the subsidiary’s manufacturing locations, upgrade current facilities, meet working capital needs, and assist overall company goals. The anchor phase is scheduled to begin on February 27, 2025 and the product will end on March 4, 2025.
Arihant Capital Markets Limited is the chief manager overseeing the issue, while Skyline Financial Services Limited is the registrar for the issue.
Balaji Phosphate IPO Today IPO GMP
Balaji Phosphates IPO GMP or Gray Market Premium is ₹0, which means that the stock is traded at its issue price ₹According to InvestorGain.com, 70 has no premium or discount on the gray market
“Gray Market Premium” means that investors are ready to exceed the issue price.
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