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Indian Phosphate IPO

  • Status: Closed
  • RHP:
  • ₹ 112,800 / 1200 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    03 Sep 2024

  • Listing Price

    ₹ 188.10

  • Listing Change

    90.00%

  • Last Traded Price

    ₹ 131.30

IPO Details

  • Open Date

    26 Aug 2024

  • Close Date

    29 Aug 2024

  • IPO Price Range

    ₹ 94 to ₹ 99

  • IPO Size

    ₹ 67.36 Cr

  • Listing Exchange

    NSE SME

  • Listing Date

    03 Sep 2024

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IPO Timeline

Indian Phosphate IPO Subscription Status

Last Updated: 29th August 2024, 5:50 PM by 5paisa

Indian Phosphate IPO is set to open on 26 August 2024 and will close on 29 August 2024. The company is a key producer of Linear Alkyl Benzene Sulfonic Acid (LABSA 90%).

The IPO includes a fresh issue of 68,04,000 shares aggregating up to ₹67.36 Cr. The price is ₹94 to ₹99 per share and the lot size is 1200 shares. 

The allotment is scheduled to be finalized on 30 August 2024. It will go public on NSE SME, with a tentative listing date of 03 September 2024.

Beeline Capital Advisors Pvt Ltd is the book-running lead manager, while Bigshare Services Pvt Ltd is the registrar. 

Indian Phosphate IPO Size

Types Size (₹Cr)
Total IPO size 67.36
Offer for sale -
Fresh issue 67.36

Indian Phosphate IPO Lot Size

Application Lots Shares Amount (₹)
Retail (Min) 1 1200 1,18,800
Retail (Max) 1 1200 1,18,800
HNI (Min) 2 2400 2,37,600

 

Indian Phosphate IPO Reservation

Investors Category Subscription (times) Shares Offered Shares bid for Total Amount (Cr.)
QIB 181.58 12,86,400 23,35,89,600 2,312.54
NII (HNI) 440.51 9,64,800 42,50,07,600 4,207.58
Retail 239.88 22,51,200 54,00,28,800 5,346.29
Total 266.22     45,02,400 1,19,86,26,000 11,866.40

 

Indian Phosphate IPO Anchor Allocation

Anchor Bid Date 23 August, 2024
Shares Offered 19,128,400
Portion Size for Anchor Investors 189.37
Lock in Period for 50% shares (30 days) 29 September, 2024
Lock in Period for rest of shares (90 days) 28 November, 2024

 

1. Setting up a new manufacturing facility for manufacturing of Sulphuric Acid, LABSA 90%, and Magnesium Sulphate.
2. To Meet Working Capital Requirements.
3. For General Corporate Purposes.
 

Established in 1998, Indian Phosphate Limited is a key producer of Linear Alkyl Benzene Sulfonic Acid (LABSA 90%), a widely used anionic surfactant found in the formulation of washing powders, detergent cakes, toilet cleaners, and liquid detergents.

In addition to LABSA, the company manufactures Single Super Phosphate (SSP) and Granulated Single Super Phosphate (GSSP), available in both powder and granule forms. These fertilizers are produced in compliance with the Fertilizer Control Regulation of India and are fortified with essential nutrients like Zinc and Boron.

The company’s manufacturing facility is strategically located in the Girwa district of Udaipur, Rajasthan, near key raw materials like sulfuric acid (98%) and rock phosphate. The crucial ingredient, linear alkyl benzene (LAB), is sourced from trusted suppliers such as IOCL (Vadodara), Nirma Ltd. (Vadodara), and Reliance Industries Ltd. (Patalganga).

Indian Phosphate Limited has a broad market presence across several key states, including Punjab, Bihar, Gujarat, Haryana, Madhya Pradesh, Maharashtra, Rajasthan, Uttar Pradesh, Himachal Pradesh, West Bengal, and Uttarakhand.

As of January 31, 2024, the company employed a workforce of 103 individuals.

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23 FY22 FY21
Revenue 770.93 558.39 415.02
EBITDA 24.76 23.62 8.66
PAT 16.60 16.17 5.09
Particulars (in Rs. Crores) FY23 FY22 FY21
Total Assets 174.07 107.90 63.14
Share Capital 2.71 2.71 2.71
Total Borrowings 15.35 18.31 4.34
Particulars (in Rs. Crores) FY23 FY22 FY21
Net Cash Generated From / (used in) operating activities 17.07 -6.05 11.34
Net Cash Generated From / (used in) investing activities -10.58 -5.32 -3.04
Net Cash Generated From / (used in) financing activities -6.59 11.48 -10.61
Net Increase (Decrease) In Cash And Cash Equivalents -0.10 0.10 2.31


Strengths

1. The company has over two decades of experience in the production of LABSA and phosphate-based fertilizers.
2. The company produces both industrial surfactants and agricultural fertilizers, allowing it to tap into multiple industries.
3. The plant is located in Girwa, Udaipur, close to vital raw materials like sulfuric acid and rock phosphate, which reduces transportation costs.
4. Indian Phosphate Limited sources its key raw material, linear alkyl benzene (LAB), from reliable suppliers ensuring consistency in production.
5. The company’s fertilizers are produced in accordance with the Fertilizer Control Regulation of India.
With a presence in major states across India, the company has an extensive distribution network.

Risks

1. The prices of raw materials like sulfuric acid, rock phosphate, and LAB can be highly volatile. 
2. The fertilizer and chemical industries are heavily regulated. 
3. The company operates in a competitive market with numerous established players in both the surfactant and fertilizer sectors. 
4. A significant portion of the company’s revenue is derived from the sale of SSP and GSSP fertilizers. 
5. Being dependent on key raw material suppliers and operating in multiple states, any disruptions due to logistical challenges could affect the operations.
6. While the company has a presence in many states, any downturn in key regions like Rajasthan or Gujarat, could disproportionately impact overall revenue.

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FAQs

Indian Phosphate IPO opens from 26nd August to 29th August 2024.

The size of the Indian Phosphate IPO is ₹67.36 Cr.

The price of Indian Phosphate IPO is fixed at ₹94 to ₹99 per share. 

To apply for Indian Phosphate IPO, follow the steps given below:

●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for the Indian Phosphate IPO.    
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    

You will receive a mandate notification to block funds in your UPI app.

The minimum lot size of Indian Phosphate IPO is 1,200 shares and the investment required is ₹1,18,800.

The share allotment date of Indian Phosphate IPO is 30th August 2024

The Indian Phosphate IPO will be listed on 03rd September 2024.

Beeline Capital Advisors Pvt Ltd is the book-running lead manager for Indian Phosphate IPO.

Indian Phosphate plans to utilize the raised capital from the IPO for:

1. Setting up a new manufacturing facility for manufacturing of Sulphuric Acid, LABSA 90%, and Magnesium Sulphate.
2. To Meet Working Capital Requirements.
3. For General Corporate Purposes.