Paradeep Phosphates IPO GMP Today, Share Allotment and Listing Date, Key Details

Paradigm Phosphate Subscription: Paradeep Phosphates Limited, India’s second largest manufacturer of non-urea and diammonium phosphate (DAP) fertilizers in the private sector, has completed its initial public offering (IPO). The initial public offering of Paradeep Phosphate received a good response from the bidders, and it was subscribed 1.75 times, with investors booking 47,02.00,150 shares against 26,868.76,858 shares offered for sale. This was supported by the impressive response from qualified institutional buyers, who were quick to book their slots. The IPO of Paradeep Phosphates, which is looking to dump Rs 1,501 crore, has set its price range at Rs 39 to Rs 42 per share.

Subscription status for subscribing to phosphate paradigms

As mentioned earlier, Paradeep Phosphates’ IPO saw a decent 1.75x oversubscription rate with investors registering 1.75x or 47,02.00,150 shares against the issue volume of 26.86.76885 shares offered for sale. This was supported by the impressive response from qualified institutional buyers, who subscribed 3.01 times or 24,32,41,250 shares for 8,07,05,162 shares reserved for them. On the other hand, RIIs were oversubscribed 1.37 times with bids of 18,06,17,150 shares on a consolidated basis against the reserved portion of 13,115,80.187 shares. However, the non-institutional investor category, which saw a lukewarm response from day one, was not fully booked with investors subscribing only 82 percent or 4,63,41,750 shares for their total stake size of 5,63,91, 509 shares. .

Paradeep Phosphate IPO Today

According to gray market watchers, today’s Paradeep Phosphates IPO GMP (Grey Market Premium) is Rs 3, which is unchanged from yesterday’s gray market premium. Market watchers said that Paradeep Phosphates IPO GMP today is Rs 3, which means the gray market expects the listing of Paradeep Phosphates IPO to be around Rs 45 (Rs 42 + Rs 3), which is about 7 per cent higher than the IPO price of Paradeep Phosphates IPO space saver.

Paradigm Phosphate Offering: Release Objectives

Through the initial public offering of Paradeep Phosphates, the company made a new issue of Rs 1,004 crore and an offer to sell Rs 498 crore by the selling shareholders, with the Government of India selling its entire stake. The objectives of the offer are to facilitate partial financing of the acquisition of the Goa facility for Rs 520 crore and repayment/prepayment of some of the company’s loans, of which Rs 300 crore will be used. The remainder will be used for general corporate purposes.

Paradeep Phosphates IPO Share Allocation, Listing Date

Paradeep Phosphates’ initial public offering shares will be allocated on May 24, Tuesday, with the issue closing for bidding on Friday, May 20. . Once the shre allocation is completed, losing bidders will receive refunds on May 25th, while those who win Paradeep Phosphates IPO share bids will receive credits to demat accounts on May 25th. The date of listing for Paradeep Phosphates IPO is on May 27, when will the issue appear in both NSE and BSE.

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