Bookbuilding IPO | ₹67 Cr | Listed at NSE SME | Mon, Aug 26, 2024 - Thu, Aug 29, 2024
Indian Phosphate IPO is a book build issue of ₹67.36 crores. The issue is entirely a fresh issue of 0.68 crore shares of ₹67.36 crore.
Indian Phosphate IPO bidding started from Aug 26, 2024 and ended on Aug 29, 2024. The allotment for Indian Phosphate IPO was finalized on Aug 30, 2024. The shares got listed on NSE SME on Sep 3, 2024.
Indian Phosphate IPO price band is set at ₹99 per share. The lot size for an application is 1,200. The minimum amount of investment required by an retail is ₹1,18,800 (1200 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (2,400 shares), amounting to ₹2,37,600.
Beeline Capital Advisors Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Spread X Securities Pvt.Ltd..
Refer to Indian Phosphate IPO RHP for detailed Information.
IPO Open
Mon, Aug 26, 2024
IPO Close
Thu, Aug 29, 2024
Issue Price
₹99 per share
Market Cap (Pre-IPO)
₹247.40 Cr
| IPO Date | 26 to 29 Aug, 2024 |
| Listed on | Tue, Sep 3, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹94 to ₹99 |
| Issue Price | ₹99 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 68,04,000 shares (agg. up to ₹67 Cr) |
| Reserved for Market Maker | 3,73,200 shares Spread X Securities Pvt.Ltd. (agg. up to ₹4 Cr) |
| Fresh Issue (Ex Market Maker) | 64,30,800 shares (agg. up to ₹64 Cr) |
| Net Offered to Public | 64,30,800 shares (agg. up to ₹64 Cr) |
| Share Holding Pre Issue | 1,81,85,609 shares |
| Share Holding Post Issue | 2,49,89,609 shares |
| NSE Symbol | IPHL |
| ISIN | INE0DHF01018 |
Indian Phosphate IPO comprises a total issue size of 68,04,000 shares. The net offer to the public is 64,30,800 shares, after excluding 3,73,200 shares allotted on a firm basis. Of the Net offer 32,14,800 (49.99%) are allocated to QIB, 9,64,800 (15.00%) allocated to NII 22,51,200 (35.01%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 32,14,800 | 49.99% | 47.25% |
| − Anchor Investor Shares Offered | 19,28,400 | 28.34% | |
| − QIB (Ex. Anchor) Shares Offered | 12,86,400 | 18.91% | |
| NII (HNI) Shares Offered | 9,64,800 | 15.00% | 14.18% |
| Retail Shares Offered | 22,51,200 | 35.01% | 33.09% |
| Firm Reservations | |||
| Market Maker Shares Offered | 3,73,200 | 5.49% | |
| Total Shares Offered | 68,04,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,200 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹1,18,800 |
| Retail (Max) | 1 | 1,200 | ₹1,18,800 |
| HNI (Min) | 2 | 2,400 | ₹2,37,600 |
Indian Phosphate IPO raises ₹19.09 crore from anchor investors. Indian Phosphate IPO Anchor bid date is August 23, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Aug 23, 2024 |
| Shares Offered | 19,28,400 |
| Anchor Portion (₹ Cr.) | 19.09 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Sep 29, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, Nov 28, 2024 |
Indian Phosphate Limited, established in 1998, produces Linear Alkyl Benzene Sulfonic Acid LABSA 90%, commonly known as LABSA, an anionic surfactant used in the formulation of all types of washing powders, cakes, toilet cleaners, and liquid detergents.
The company also manufactures “Single Super Phosphate” (SSP) and “Granules Single Super Phosphate” (GSSP) which are manufactured and supplied in powder and granule form as per the norms of the Fertilizer Control Regulation of India and are fortified with Zinc and Boron.
The Company's manufacturing facility is located in Girwa district, Udaipur, Rajasthan, close to the two raw materials (a) sulphuric acid 98% and (b) rock phosphate used in the manufacture of the products. The other important raw material, linear alkyl benzene (LAB), is sourced from IOCL, Vadodara, Nirma Ltd, Vadodara and Reliance Industries Ltd, Patalganga.
Indian Phosphate Limited has a presence in major states like Punjab, Bihar, Gujarat, Haryana, Madhya Pradesh, Maharashtra, Rajasthan, Uttar Pradesh, Himachal Pradesh, West Bengal, and Uttarakhand.
As of March 31, 2024, the company had 105 employees.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 255.19 | 174.07 | 107.90 | 63.14 |
| Total Income | 717.58 | 770.93 | 558.39 | 415.02 |
| Profit After Tax | 12.10 | 16.60 | 16.17 | 5.09 |
| NET Worth | 80.99 | 67.52 | 50.92 | 34.76 |
| Reserves and Surplus | 62.81 | 64.80 | 48.21 | 32.04 |
| Total Borrowing | 40.23 | 15.35 | 18.31 | 4.34 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | For Setting up a new manufacturing facility at SIPCOT Industrial Park Phase-I, Kudikadu Village, Cuddalore District ('C' District) Plot(s) - Plot No.C-17/A, TamilNadu for manufacturing of Sulphuric Acid, LABSA 90%, and Magnesium Sulphate | 33.18 |
| 2 | To Meet Working Capital Requirements. | 24.90 |
| 3 | For General Corporate Purposes | 0.78 |
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 18.14% |
| ROCE | 20.93% |
| Debt/Equity | 0.50 |
| RoNW | 16.63% |
| PAT Margin | 1.91% |
| Price to Book Value | 2.23 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 6.65 | 4.84 |
| P/E (x) | 14.88 | 20.44 |
| Promoter Holding | 100% | 72.77% |
| Market Cap | ₹247.40 Cr. |
The Indian Phosphate IPO is subscribed 267.89 times on August 29, 2024 6:19:58 PM (Day 4). The public issue subscribed 243.02 times in the retail category, 181.58 times in the QIB category, and 441.01 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 181.58 | 12,86,400 | 23,35,89,600 |
| NII* | 441.01 | 9,64,800 | 42,54,86,400 |
| Retail | 243.02 | 22,51,200 | 54,70,89,600 |
| Total | 267.89 | 45,02,400 | 1,20,61,65,600 |
Total Application : 4,55,908
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manger Fees | 0.25 |
| 2 | Fees Payable to Registrar to the Issue | 0.01 |
| 3 | Fees Payable to Legal Advisors | 0.03 |
| 4 | Fees Payable Advertising, Marketing Expenses and Printing Expenses | 0.15 |
| 5 | Fees Payable to Regulators including Stock Exchanges and other Intermediaries | 0.05 |
| 6 | Fees payable to Peer Review Auditor | 0.02 |
| 7 | Fees Payable to Market Maker (for One Year) | 0.04 |
| 8 | Others (Fees payable for marketing & distributing expenses, selling commission, brokerage, processing fees, underwriting fees and miscellaneous expenses.) | 7.94 |
| 9 | Escrow Bank Fees | 0.01 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹99.00 |
| Open | ₹188.10 |
| Low | ₹178.70 |
| High | ₹197.50 |
| Last Trade | ₹178.70 |
Lead Manager Reports
Indian Phosphate IPO is a SME IPO of 68,04,000 equity shares of the face value of ₹10 aggregating up to ₹67 Crores. The issue is priced at ₹99 per share. The minimum order quantity is 1200.
The IPO opens on Mon, Aug 26, 2024, and closes on Thu, Aug 29, 2024.
Bigshare 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 Indian Phosphate IPO using UPI as a payment gateway. Zerodha customers can apply in Indian Phosphate IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Indian Phosphate IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Indian Phosphate IPO opens on Mon, Aug 26, 2024 and closes on Thu, Aug 29, 2024.
Indian Phosphate IPO lot size is 1200, and the minimum amount required for application is ₹1,18,800.
You can apply in Indian Phosphate 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 Indian Phosphate IPO will be done on Friday, August 30, 2024, and the allotted shares will be credited to your demat account by Mon, Sep 2, 2024. Check the Indian Phosphate IPO allotment status.
The Indian Phosphate IPO listing date is on Tue, Sep 3, 2024.
