Bookbuilding IPO | ₹50 Cr | Listed at NSE SME | Fri, Feb 28, 2025 - Tue, Mar 4, 2025
Balaji Phosphates IPO is a book build issue of ₹50.11 crores. The issue is a combination of fresh issue of 0.59 crore shares aggregating to ₹41.58 crores and offer for sale of 0.12 crore shares aggregating to ₹8.53 crores.
Balaji Phosphates IPO bidding started from Feb 28, 2025 and ended on Mar 4, 2025. The allotment for Balaji Phosphates IPO was finalized on Mar 5, 2025. The shares got listed on NSE SME on Mar 7, 2025.
Balaji Phosphates IPO price band is set at ₹70 per share. The lot size for an application is 2,000. The minimum amount of investment required by an retail is ₹1,40,000 (2000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (4,000 shares), amounting to ₹2,80,000.
Arihant Capital Markets Ltd. is the book running lead manager and Skyline Financial Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is NNM Securities Pvt.Ltd..
Refer to Balaji Phosphates IPO RHP for detailed Information.
IPO Open
Fri, Feb 28, 2025
IPO Close
Tue, Mar 4, 2025
Issue Price
₹70 per share
Market Cap (Pre-IPO)
₹166.44 Cr
| IPO Date | 28 Feb to 4 Mar, 2025 |
| Listed on | Fri, Mar 7, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹66 to ₹70 |
| Issue Price | ₹70 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 71,58,000 shares (agg. up to ₹50 Cr) |
| Reserved for Market Maker | 3,58,000 shares NNM Securities Pvt.Ltd. (agg. up to ₹3 Cr) |
| Fresh Issue (Ex Market Maker) | 55,82,000 shares (agg. up to ₹39 Cr) |
| Offer for Sale | 12,18,000 shares of ₹10 (agg. up to ₹9 Cr) |
| Net Offered to Public | 68,00,000 shares (agg. up to ₹48 Cr) |
| Share Holding Pre Issue | 1,78,37,100 shares |
| Share Holding Post Issue | 2,37,77,100 shares |
| NSE Symbol | BALAJIPHOS |
| ISIN | INE0PQ601019 |
Balaji Phosphates IPO comprises a total issue size of 71,58,000 shares. The net offer to the public is 68,00,000 shares, after excluding 3,58,000 shares allotted on a firm basis. Of the Net offer 20,40,000 (30.00%) are allocated to QIB, 20,40,000 (30.00%) allocated to NII 27,20,000 (40.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 20,40,000 | 30.00% | 28.50% |
| − Anchor Investor Shares Offered | 5,72,000 | 7.99% | |
| − QIB (Ex. Anchor) Shares Offered | 14,68,000 | 20.51% | |
| NII (HNI) Shares Offered | 20,40,000 | 30.00% | 28.50% |
| Retail Shares Offered | 27,20,000 | 40.00% | 38.00% |
| Firm Reservations | |||
| Market Maker Shares Offered | 3,58,000 | 5.00% | |
| Total Shares Offered | 71,58,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,40,000 |
| Retail (Max) | 1 | 2,000 | ₹1,40,000 |
| HNI (Min) | 2 | 4,000 | ₹2,80,000 |
Balaji Phosphates IPO raises ₹4.00 crore from anchor investors. Balaji Phosphates IPO Anchor bid date is February 27, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Thu, Feb 27, 2025 |
| Shares Offered | 5,72,000 |
| Anchor Portion (₹ Cr.) | 4.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Apr 4, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Jun 3, 2025 |
Incorporated in 1996, Balaji Phosphates Limited manufactures and supplies Single Super Phosphate (SSP), NPK Granulated and Mixed Fertilizers, and Zinc Sulphate, all compliant with India's Fertilizer Control Order standards.
The company markets its products under the brands ‘RATNAM’ and ‘BPPL’ to various customers, including retailers, wholesalers, and cooperatives, with farmers as end users.
The product portfolio consists of Phosphate fertilizers like SSP, zinc sulfate, and NPK Mix enhance plant growth in agricultural soils.
The company sells its products in regions such as Madhya Pradesh, Chhattisgarh, Maharashtra, Andhra Pradesh and Telangana.
The company's manufacturing unit is in Dewas, Madhya Pradesh. As of March 31, 2024, the company's manufacturing unit had capacities of 120,000 MT per year for Single Super Phosphate, 3,300 MT for Zinc Sulphate, and 49,500 MT for NPK Granulated & Mix.
As of August 31, 2024, the company employs 40 individuals, including skilled and unskilled labour, administrative staff, management, and operations teams.
Competitive Strength
| Period Ended | 31 Aug 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 95.28 | 88.48 | 96.83 | 82.35 |
| Total Income | 54.85 | 151.68 | 144.64 | 124.12 |
| Profit After Tax | 4.15 | 6.04 | 6.09 | 3.19 |
| NET Worth | 39.15 | 35.00 | 28.97 | 22.86 |
| Reserves and Surplus | 21.31 | 17.17 | 20.05 | 16.92 |
| Total Borrowing | 35.58 | 33.22 | 26.32 | 19.88 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To meet Capital expenditure towards establishing a warehouse at our subsidiaries factory premise & upgradation of existing facilities | 12.88 |
| 2 | To meet the working Capital requirements | 19.00 |
| 3 | General Corporate Purposes | 4.69 |
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 18.89% |
| ROCE | 16.7% |
| Debt/Equity | 0.95 |
| RoNW | 17.26% |
| PAT Margin | 4.00% |
| Price to Book Value | 3.57 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 3.39 | 4.19 |
| P/E (x) | 20.67 | 16.72 |
| Promoter Holding | 100% | 69.9% |
| Market Cap | ₹166.44 Cr. |
The Balaji Phosphates IPO is subscribed 1.21 times on March 4, 2025 6:19:59 PM (Day 3). The public issue subscribed 1.09 times in the retail category, 1.26 times in the QIB category, and 1.34 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| QIB | 1.26 | 14,68,000 | 18,46,000 | 4 |
| NII* | 1.34 | 20,40,000 | 27,26,000 | 126 |
| Retail | 1.09 | 27,20,000 | 29,60,000 | 1,480 |
| Total | 1.21 | 62,28,000 | 75,32,000 | 1,610 |
Total Application : 1,610
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager Fees | 0.45 |
| 2 | Registrar to the Offer | 0.01 |
| 3 | Legal Advisors | 0.01 |
| 4 | Advisor to the Offer | |
| 5 | Advertising and marketing Expenses | 0.05 |
| 6 | Regulators including Stock Exchange | 0.04 |
| 7 | Printing and Distribution of issue stationery | 0.01 |
| 8 | Others fees payable to Marketing & Distribution expenses, Selling Commission, Brokerage, Underwriter, Market Maker, Processing fees, etc and other miscellaneous expenses | 4.45 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹70.00 |
| Open | ₹75.00 |
| Low | ₹73.50 |
| High | ₹78.00 |
| Last Trade | ₹74.35 |
Lead Manager Reports
Balaji Phosphates IPO is a SME IPO of 71,58,000 equity shares of the face value of ₹10 aggregating up to ₹50 Crores. The issue is priced at ₹70 per share. The minimum order quantity is 2000.
The IPO opens on Fri, Feb 28, 2025, and closes on Tue, Mar 4, 2025.
Skyline Financial Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Balaji Phosphates IPO using UPI as a payment gateway. Zerodha customers can apply in Balaji Phosphates IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Balaji Phosphates IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Balaji Phosphates IPO opens on Fri, Feb 28, 2025 and closes on Tue, Mar 4, 2025.
Balaji Phosphates IPO lot size is 2000, and the minimum amount required for application is ₹1,40,000.
You can apply in Balaji Phosphates IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Balaji Phosphates IPO will be done on Wednesday, March 5, 2025, and the allotted shares will be credited to your demat account by Thu, Mar 6, 2025. Check the Balaji Phosphates IPO allotment status.
The Balaji Phosphates IPO listing date is on Fri, Mar 7, 2025.
