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Paradeep Phosphate IPO opens on 17th May Govt to sell entire stake price range Rs 32 and Rs 42 – Business News India

Paradigm Phosphate IPO: If you missed investing in the LIC IPO, there’s another opportunity coming for you. After the LIC, the government sells its entire stake in another company. In fact, the government sells its entire stake in the fertilizer company Paradip Phosphates. Paradigm Phosphate will be announced on the stock exchange next week. Where ordinary investors can buy shares by bidding on shares. The Public Issue (IPO) for Paradip Phosphates Investment Company will open on May 17th. In this, investors will be able to bid until May 19. The government owns a 19.55 percent stake in Paradeep Phosphate and the government sells its entire stake.

Price range is 32-42 rupees
Paradip Phosphates share price range has been set at Rs 39-42 per share. According to Red Herring Prospectus (RHP), bids will open to major investors on May 13. The initial public offering of Paradip Phosphates consists of a new issue of Rs 1,004 crore. The promoters and other shareholders will sell Rs 11.85 crore of equity through Offer for Sale (OFS). As part of the OFS, the selling shareholders – Zuari Maroc Phosphates Private Limited (ZMPPL) will sell 60,18,493 shares while the Government of India will sell 11,24,89,000 shares through an IPO.

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their share
As per the upper price band, the promoter and government sale of secondary shares will be Rs 497.7 crore. At present, ZMPPL holds an 80.45 percent stake in Paradigm Phosphate, while the government owns 19.55 percent. Explain that the proceeds of the issuance will be spent by the company used in a factory in Goa and also to pay off the debt.

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He is the book director of the play book
Axis Capital, ICICI Securities, JM Financial and SBI Capital Markets are the lead issue managers who manage the issue. The company’s shares will be listed on the BSE and NSE stock exchanges on May 27, 2022.

Also Read- Top Circle In This Small Stock, Shares Increased From Rs 1 To Rs 8 In A Shake, 558% Return To Investors

About company
Established in 1981, Paradip Phosphates Limited is mainly engaged in the manufacture, trading, distribution and sales of various types of complex fertilizers such as Diammonium Phosphate (DAP) and NPK fertilizers. The company reported a profit of Rs 362.7 crore for the nine months period ended 31st December 2021, as against Rs 223 crore for the financial year 21.

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