Paradeep Phosphates was incorporated on December 24, 1981. The company is primarily engaged in manufacturing, trading, distribution, and sales of a variety of complex fertilizers such as DAP, three grades of Nitrogen-Phosphorus-Potassium. It is also engaged in the trading, distribution, and sales of Muriate of Potash, Ammonia, Speciality Plant Nutrients, and city compost.
| Bidding Dates |
|---|
| 17 May 2022 - 19 May 2022 |
| Subscription |
|---|
| 1.75x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,700 | 1 | 13 | 350 | 357.6 M | ₹39 - ₹42 | 56.1 % | ₹13944.7 M - ₹15017.3 M | RHP DOC |
Paradeep Phosphates IPO SUBSCRIPTION STATUS
19 May '22Paradeep Phosphates IPO overall subscription rate was 1.75 times the total available shares
Paradeep Phosphates IPO retail subscription rate was 1.37 times in the retail segment
Paradeep Phosphates IPO non-institutional investor subscription rate was 0.82 times in the non-institutional investor category
Paradeep Phosphates IPO Qualified Institutional Bidder subscription rate was 3.01 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
19 May 2022 (Day 3) | 1.37x | 0.82x | 3.01x |
18 May 2022 (Day 2) | 0.95x | 0.2x | 0x |
17 May 2022 (Day 1) | 0.57x | 0.07x | 0x |
Paradeep 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) |
| 9MFY22 | 3,627.84 | 59,599.70 | 1354.8 | -4,328.83 |
| FY21 | 2,232.68 | 51,647.34 | 15011.48 | 13,324.25 |
| FY20 | 1,932.20 | 41,928.65 | 12697.36 | 11,307.82 |
| FY19 | 1,589.63 | 43,579.12 | -9204.48 | -10,466.27 |
Paradeep Phosphates IPO SUBSCRIPTION STATUS DETAILS
Paradeep Phosphates had 357.6 M shares on offer
Paradeep Phosphates IPO offer price was in the range ₹39 - ₹42
Paradeep Phosphates IPO minimum Investment was ₹14700
Paradeep Phosphates IPO issue size was ₹ 13944.7 M - ₹ 15017.3 M
Paradeep Phosphates had a minimum lot size of 350 Shares per application
Paradeep Phosphates NUMBER OF SHARES ON OFFER
Paradeep Phosphates IPO IMPORTANT DATES
| Issue Open Date | 17 May 2022 |
| Issue close Date | 19 May 2022 |
| Allotment Date | 24 May 2022 |
| Refund Date | 25 May 2022 |
| Demat Account Credit Date | 26 May 2022 |
| Listing Date | 27 May 2022 |
| Listing on Exchange(s) | NSE and BSE |
| Paradeep Phosphates Allotment Status | Exchange |
Paradeep Phosphates IPO subscription opened on 17 May 2022, and closed on 19 May 2022
IPO allotment for Paradeep Phosphates was finalized on Tuesday, 24 May 2022
IPO listing for Paradeep Phosphates was on NSE and BSE on Friday, 27 May 2022
Paradeep Phosphates IPO LISTING GAINS
| Issue Price (adjusted) | 42.0 |
| Listing Open Price | 44.0 |
| Listing Close Price | 43.9 |
| Listing Gain% | 4.8% |
| Current Gain% | 255.8% |
Paradeep 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Paradeep Phosphates Ltd. | 149.4 | 12172.7 | 14.5 | 0.4 | 0.7 | 14.7 | 5.6 | 21972.9 | 57.7 | 996.4 | 80.6 | 10.3 | 33.6 |
| 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 |
| 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 |
| Rashtriya Chemicals & Fertilizers Ltd. | 126.9 | 7002 | 16.4 | 0.2 | 0.4 | 8.3 | 2.6 | 18690.9 | 9.3 | 427.4 | 76.3 | 7.7 | 76.3 |
Paradeep Phosphates INFORMATION ON IPO ISSUE
About Paradeep Phosphates
Paradeep Phosphates was incorporated on December 24, 1981. The company is primarily engaged in manufacturing, trading, distribution, and sales of a variety of complex fertilizers such as DAP, three grades of Nitrogen-Phosphorus-Potassium. It is also engaged in the trading, distribution, and sales of Muriate of Potash, Ammonia, Speciality Plant Nutrients, and city compost.
Object of the Issue
1. Part-financing the acquisition of the Goa Facility
2. Repayment/prepayment of certain borrowings
3. General corporate purposes
Paradeep Phosphates - PROMOTERS
| Name |
|---|
| Zuari Maroc Phosphates Private Limited |
| Zuari Agro Chemicals Limited |
| OCP |
| President of India, acting through the Ministry of Chemicals and Fertilizers, Government of India |
Paradeep Phosphates Book Running Lead Manager
Axis Capital Limited
ppl.ipo@axiscap.in
ICICI Securities Limited
ppl.ipo@icicisecurities.com
JM Financial Limited
paradeep.ipo@jmfl.com
SBI Capital Markets Limited
ppl.ipo@sbicaps.com
Paradeep Phosphates Registrar to the Offer
Link Intime India Private Limited
ppl.ipo@linkintime.co.in
Paradeep Phosphates Strengths
Positioned to capture fertilizer industry
Well-positioned to capture the fertilizer industry dynamics supported by conducive government regulations
Second-largest manufacturer
The second-largest manufacturer of Phosphatic fertilizers in India
Backward integration
Driving raw material efficiency through backward integration of facilities and effective sourcing
Manufacturing facility
Secure and certified manufacturing facility and infrastructure with unutilized land available for expansion. The company's manufacturing facility is located strategically with sizeable material storage, handling, and port facilities.
Established brand
Established brand name backed by an extensive sales and distribution network
Experienced management team
Strong parentage, experienced management team, and prominent shareholders
Paradeep Phosphates Risks
Dependent on agricultural sector
The business is dependent on the performance of the agricultural sector which is subject to climatic conditions and is cyclical in nature
One Manufacturing facility
The company has only one manufacturing facility
Outstanding litigations
There are outstanding litigations involving the company, its promoters, and directors.
IPO FAQs
This IPO consists of an offer for sale of up to Rs 497.7 crore, of 118,507,493 shares. It also consists of a fresh issue of Rs 1,004.0 crore.
The promoters of the company are Zuari Maroc Phosphates Private Limited, Zuari Agro Chemicals Limited, OCP and President of India, acting through the Ministry of Chemicals and Fertilizers, Government of India.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 39.0 - 42.0.
The IPO application opens on May 17, 2022 and closes on May 19, 2022.
The minimum lot size for the IPO is 350. The maximum lot size for the IPO is 4550.
For all category investors, the minimum application amount for this IPO is Rs. 14,700.0, the maximum value for this IPO is Rs 191,100.0.
This IPO will be allotted on May 24, 2022.
The refund will be credited to your account on May 25, 2022.
The allotted shares will be credited to your demat on May 26, 2022.
Paradeep Phosphates Ltd.’s shares listed on the stock exchanges on May 27, 2022.