.jpg)
Indian Phosphate Limited’s Initial Public Offering opens on Monday, August 26th, 2024, price band set at ₹ 94/- to ₹ 99/- per Equity Shares
Udaipur (Rajasthan) [India], August 26: 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 opens on Monday, [...]
Udaipur (Rajasthan) [India], August 26: 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 opens on Monday, August 26th, 2024, for subscription and closes 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. (Upper Price Band)
- 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
- 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.
