Indian Phosphate Limited’s Initial Public
Offering to open on Monday, August 26th, 2024, price band set at ₹ 94/- to ₹ 99/-
per Equity Shares
Udaipur, August
22, 2024: Udaipur based leading manufacturer of Linear Alkylbenzene Sulphonic Acid 90% (LABSA 90%),
Single Super Phosphate (SSP), Granules Single
Super Phosphate (GSSP) has fixed
the price band of ₹94/- to ₹99/- per Equity Share of face value ₹10/- each for its
maiden initial public offer. The Initial Public Offering (“IPO” or “Offer”) of the
Company will open on Monday, August 26th,
2024, for subscription
and close on Thursday, August 29th, 2024. Investors can bid for a minimum of
1,200 Equity Shares and in multiples of 1,200 Equity Shares thereafter.
·
Price Band of ₹94/
– ₹99/- per equity share bearing face value of ₹10/- each (“Equity Shares”)
·
Issue Size: ₹ 67.36
Cr.
·
Anchor Bid/Offer
date: Friday August, 23, 2024.
·
Retail, HNI, QIB Bid/Offer
Opening Date – Monday, August 26, 2024 and Bid/Offer Closing Date – Thursday, August
29, 2024.
·
Bid Lot Size: 1200
Equity Shares
·
Anchor Quota:
19,28,400 Equity Shares
·
QIB Quota:
12,86,400 Equity Shares
·
NII Quota: 9,64,800
Equity Shares
·
Retail Quota:
22,51,200 Equity Shares
·
Market Maker Quota:
3,73,200 Equity Shares
The IPO consists of fresh issue of up
to Rs 67.36 crores. The
proceeds from its fresh issuance to the extent of Rs 33.18 crores will be used
for setting up a new facility at SIPCOT Industrial Park, Tamil Nadu for manufacturing of LABSA 90%, Sulphuric
Acid and Magnesium Sulphate and Rs. 24.90 crore to meet working Capital
Requirement and for general corporate purpose. The
company have also acquired 1,00,000 Sq. Mtr land on lease from MIDC Dhule,
Maharashtra to manufacture Single Super Phosphate fertiliser, Di-Calcium
Phosphate, Sulphuric Acid, Oleum 65% and Organic Fertilizers
Indian
Phosphate Ltd was incorporated in the year 1998. Over the years It has built
deep expertise in manufacturing Linear Alkylbenzene Sulphonic Acid LABSA 90%,
popularly known as LABSA, it is an anionic surfactant used in the formulation
of all types of detergent powders, cakes, toilet cleaners and liquid
detergents. It is also engaged in the manufacturing of “Single Super Phosphate”
(SSP) fertilizer and “Granules Single Super Phosphate” (GSSP) Fertilizer, which
is preferred phosphate fertilizer as it provides much needed nutrients to soil
and is cheaper and readily available as compared to other phosphate fertilizer.
The
company have employed state-of-the-art manufacturing process and control
technology in their Chemical and Fertilizer plant. Current production capacity
of LABSA 90% stands at 350 MT/ day and that of SSP - 400 MT/day.
The
company markets its range of Single Super Phosphate under the brand name “Ankur
SSP” in Uttar Pradesh, Punjab, Uttarakhand, Bihar, Madhya Pradesh, Rajasthan,
Maharashtra, Haryana, Gujarat, Himachal Pradesh and West Bengal through
dedicated channel partners in private sector as well as institutional channels.
The company supply LABSA 90% directly to their B2B customers at their various
production sites.
The
Revenue from Operations for FY24 stood at Rs. 704.17 crore, FY23 Rs.768.69
crore and FY22 Rs.557.15 crore and Profit After Tax in FY24 RS.13.47 crore,
FY23 Rs.16.59 crore and FY22 Rs.16.16 crore
Beeline Capital Advisors Private Limited is the sole book
running lead manager and Bigshare Services Private Limited is the registrar to
the issue. The equity shares are proposed to be listed on NSE.
The Offer
is being made through the Book Building Process, wherein not more than 50% of the Offer shall be available for
allocation to Qualified Institutional Buyers, not less than 15% of the net offer shall be available
for allocation to Non-Institutional Investors and not less than 35% of the Offer shall be available for
allocation to Retail Individual Investors.
