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HomeBusinessParadeep Phosphates IPO Opens For Subscription: Price Bank, Other Details

Paradeep Phosphates IPO Opens For Subscription: Price Bank, Other Details


Paradeep Phosphates is engaged in manufacturing, buying and selling, distribution and gross sales of advanced fertilisers.

New Delhi:

Fertiliser firm Paradeep Phosphates Ltd’s preliminary public providing (IPO) opened for subscription on Tuesday. The worth band for the general public concern, which concludes on May 19, has been fastened at Rs 39-42 per share.

Through the preliminary share sale, the federal government might be offloading its complete 19.55 per cent stake within the firm.

The IPO includes contemporary issuance of fairness shares price Rs 1,004 crore and a suggestion on the market part of 11.85 crore fairness shares by promoters and different promoting shareholder.

As a part of the offer-for-sale (OFS), promoting shareholders — Zuari Maroc Phosphates Pvt Ltd (ZMPPL) will offload 60,18,493 fairness shares and the Centre will promote as much as 11,24,89,000 fairness shares.

At current, ZMPPL owns 80.45 per cent shareholding in Paradeep Phosphates, whereas the federal government has 19.55 per cent stake.

Incorporated in 1981, Paradeep Phosphates Ltd is primarily engaged in manufacturing, buying and selling, distribution and gross sales of advanced fertilisers comparable to Di-Ammonium Phosphate (DAP) and NPK fertilisers.

It has raised a bit over Rs 450 crore from anchor traders days earlier than the roll-out of its preliminary public providing.

Goldman Sachs, BNP Paribas Arbitrage, Kuber India Fund, Copthall Mauritius Investment and Societe Generale are among the many anchor traders.

Axis Capital, ICICI Securities, JM Financial and SBI Capital Markets are the ebook working lead managers to the difficulty.



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