Shares of Paradeep Phosphates Ltd will be listed today at the bourses. The company has fixed the IPO price at ₹42, the upper end of the ₹39-42 price band. The ₹1,501-crore initial public offering of Paradeep Phosphates was subscribed 1.75 times. While the retail investors’ portion was subscribed 1.37 per cent, the HNIs quota and QIBs portions got 0.82 times and 3.01 times, respectively..
₹1,255 crore fresh issue
The IPO comprised a fresh issue of equity shares worth ₹1,255 crore and an offer for sale (OFS) of up to 12 crore shares by its existing shareholders and promoters. Under the OFS, the promoter, Zuari Maroc Phosphates Pvt Ltd (ZMPPL), will offer up to 75,46,800 shares, while the Centre will offer up to 11.25 crore shares. The Centre holds 19.55 per cent stake, while 80.45 per cent is held by ZMPPL.
Anchor investors
Ahead of the IPO, the fertiliser company had raised a little over ₹450 crore from anchor investors. Proceeds of the fresh issue will be used to partly finance the acquisition of the fertiliser manufacturing facility in Goa, payment of debt and general corporate purposes, the company said in a DRHP.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.