Balaji Phosphates was established on April 4, 1996. The company manufactures and supplies Single Super Phosphate (SSP), NPK Granulated & Mixed Fertilizers, and Zinc Sulphate, adhering to India's Fertilizer Control Order. Products are sold under ‘RATNAM’ and ‘BPPL’ to retailers, wholesalers, and state-owned cooperatives, with farmers as end users
| Bidding Dates |
|---|
| 28 Feb 2025 - 04 Mar 2025 |
| Subscription |
|---|
| 1.2x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,32,000 | 1 | 1 | 2000 | 7.2 M | ₹66 - ₹70 | 69.9 % | ₹472.4 M - ₹501.1 M | RHP DOC |
Balaji Phosphates IPO SUBSCRIPTION STATUS
04 Mar '25Balaji Phosphates IPO overall subscription rate was 1.2 times the total available shares
Balaji Phosphates IPO retail subscription rate was 1.13 times in the retail segment
Balaji Phosphates IPO non-institutional investor subscription rate was 1.56 times in the non-institutional investor category
Balaji Phosphates IPO Qualified Institutional Bidder subscription rate was 0.93 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 40% | 30% | 30% |
04 Mar 2025 (Day 3) | 1.13x | 1.56x | 0.93x |
03 Mar 2025 (Day 2) | 0.56x | 1.19x | - |
28 Feb 2025 (Day 1) | 0.22x | 4.05x | - |
Balaji Phosphates FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 5MFY25 | 41.5 | 533.7 | -4.2 | -8.6 | 10.7% |
| FY24 | 60.4 | 1,515.5 | -34.8 | -43.6 | 8.0% |
| FY23 | 60.9 | 1,445.4 | -36.3 | -37.4 | 8.1% |
| FY22 | 31.9 | 1,236.5 | 33.9 | 30.1 | 6.4% |
Balaji Phosphates IPO SUBSCRIPTION STATUS DETAILS
Balaji Phosphates had 7.2 M shares on offer
Balaji Phosphates IPO offer price was in the range ₹66 - ₹70
Balaji Phosphates IPO minimum Investment was ₹132000
Balaji Phosphates IPO issue size was ₹ 472.4 M - ₹ 501.1 M
Balaji Phosphates had a minimum lot size of 2000 Shares per application
Balaji Phosphates NUMBER OF SHARES ON OFFER
Balaji Phosphates IPO IMPORTANT DATES
| Issue Open Date | 28 Feb 2025 |
| Issue close Date | 04 Mar 2025 |
| Allotment Date | 05 Mar 2025 |
| Refund Date | 06 Mar 2025 |
| Demat Account Credit Date | 06 Mar 2025 |
| Listing Date | 07 Mar 2025 |
| Listing on Exchange(s) | NSE |
| Balaji Phosphates Allotment Status | Exchange |
Balaji Phosphates IPO subscription opened on 28 Feb 2025, and closed on 04 Mar 2025
IPO allotment for Balaji Phosphates was finalized on Wednesday, 05 Mar 2025
IPO listing for Balaji Phosphates was on NSE on Friday, 07 Mar 2025
Balaji Phosphates IPO LISTING GAINS
| Issue Price (adjusted) | 70.0 |
| Listing Open Price | 75.0 |
| Listing Close Price | 74.3 |
| Listing Gain% | 7.1% |
| Current Gain% | 27.1% |
Balaji Phosphates Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balaji Phosphates Ltd. | 89 | 211.6 | 20.7 | 0.7 | 1.2 | 11.3 | 6.3 | 171.2 | 33.2 | 10.2 | 29.1 | 4.3 | 29.1 |
| Coromandel International Ltd. | 2069.3 | 61047.7 | 33.3 | -1.8 | 1.9 | 15.6 | 8 | 31827.4 | 30.2 | 1956.2 | -5.3 | 62.1 | -19 |
| The Fertilisers and Chemicals Travancore Ltd. | 839.4 | 54315.2 | -1371.6 | 7 | 9.5 | -2.9 | -0.7 | 5900.1 | 38.3 | -39.6 | -196 | -0.6 | -196 |
| Chambal Fertilisers & Chemicals Ltd. | 450.7 | 18057.4 | 9.4 | 0.9 | 0.9 | 18.8 | 13.6 | 20920.5 | 24.1 | 1953.4 | 18.4 | 48.1 | 10.2 |
| Paradeep Phosphates Ltd. | 149.4 | 15515.5 | 14.5 | 0.4 | 0.7 | 14.7 | 5.6 | 21972.9 | 57.7 | 996.4 | 80.6 | 10.3 | 33.6 |
| Gujarat Narmada Valley Fertilizers & Chemicals Ltd. | 535.5 | 7868.7 | 7.6 | 0.1 | 0.9 | 8.9 | 7.1 | 8272 | -1.4 | 808 | 35.2 | 70.6 | 84.5 |
Balaji Phosphates INFORMATION ON IPO ISSUE
About Balaji Phosphates
Balaji Phosphates was established on April 4, 1996. The company manufactures and supplies Single Super Phosphate (SSP), NPK Granulated & Mixed Fertilizers, and Zinc Sulphate, adhering to India's Fertilizer Control Order. Products are sold under ‘RATNAM’ and ‘BPPL’ to retailers, wholesalers, and state-owned cooperatives, with farmers as end users
Object of the Issue
- To meet capital expenditure requirements
- To meet working capital requirements
- General corporate purposes
Balaji Phosphates - PROMOTERS
| Name |
|---|
| Mohit Airen |
| Alok Gupta |
Balaji Phosphates Lead Manager of the Issue
Arihant Capital Markets Limited
mbd@arihantcapital.com
Balaji Phosphates Registrar to the issue
Skyline Financial Services Private Limited
ipo@skylinerta.com
Balaji Phosphates Strengths
Market reputation
The company has strong expertise in fertilizer manufacturing, strategic dealer selection, and competitive pricing. Its market reputation ensures favourable supplier terms and a stable supply chain
Wide spread network
The company operates in Madhya Pradesh, Chhattisgarh, Maharashtra, Andhra Pradesh, and Telangana, demonstrating its commitment to serving diverse customers and adapting to regional needs
Quality
The company’s in-house testing laboratory ensures strict quality control of its fertilizers. Equipped with advanced instruments, it monitors raw materials and finished products to maintain high standards in composition, packaging, and labelling
Balaji Phosphates Risks
Dependent on the agriculture sector
The company's business relies on the agricultural sector's performance. Any changes impacting agriculture can affect its operations, financial condition, and overall business results
Trade risks
The company's manufacturing depends on key raw materials like Rock Phosphate and Sulfuric Acid, with Rock Phosphate imported from Jordan, Morocco, and Egypt. Reliance on international suppliers exposes it to risks like supply chain disruptions, trade policies, and geopolitical tensions
Climate risks
The company's business is highly affected by weather conditions like droughts, floods, and natural disasters, as well as pest infestations. Adverse weather can reduce crop planting, leading to lower demand for fertilizers
IPO FAQs
This IPO consists of an offer for sale of up to Rs 8.5 crore, of 1,218,000 shares. It also consists of a fresh issue of Rs 41.6 crore.
The promoters of the company are Mohit Airen and Alok Gupta.
The category allocation of qualified institutional buyers is 30.0%, the category allocation of non individual investors or high networth individuals is 30.0% and for retail investors it is 40.0%.
The price band of the IPO is Rs 66.0 - 70.0.
The IPO application opens on Feb 28, 2025 and closes on Mar 04, 2025.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 132,000.0, the maximum value for this IPO is Rs 140,000.0.
This IPO will be allotted on Mar 05, 2025.
The refund will be credited to your account on Mar 06, 2025.
The allotted shares will be credited to your demat on Mar 06, 2025.
Balaji Phosphates Ltd.’s shares listed on the stock exchanges on Mar 07, 2025.