IPO

Indian Phosphate Limited IPO

NSE SME

Listed On: Sep 3, 2024 at ₹ 188.1

₹ 237600 /2400 Shares
*Min Investment

Check Allotment

26 Aug, 2024

Open Date

29 Aug, 2024

Close Date

30 Aug, 2024

Allotment Date

03 Sep, 2024

Listing Date
Indian Phosphate IPO Issue Details
  • Issue Price ₹94-99 per equity share
  • Face Value ₹10 Per Equity Share
  • Total Issue Size 68,04,000 shares(aggregating up to ₹67.36 crore)
  • Fresh Share 68,04,000 shares(aggregating up to ₹67.36 crore)
  • Listing at NSE SME
  • List Price 188.1
  • Listing Date 2024-09-03
  • Lead Manager Beeline Capital Advisors Pvt Ltd
  • Registrar Bigshare Services Pvt Ltd
Market Lot Size

Investors can bid for a minimum of 1200 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

ApplicationLotsSharesAmount
Retail (min)11200₹1,18,800
Retail(max)11200₹1,18,800
NII (min) 22400₹2,37,600
Indian Phosphate IPO Reservation

Indian Phosphate IPO offers total 68,04,000 shares. Out of which 12,86,400 (18.91%) allocated to QIB, 9,64,800 (14.18%) allocated to NII,22,51,200 (33.09%) allocated to RII, NA (NA%) allocated to employees and 19,28,400 (28.34%) allocated to Anchor investors.

Investor CategoryShares OfferedMaximum Allottees
Anchor Investor Shares Offered19,28,400 (28.34%)
Market Maker Shares Offered3,73,200 (5.49%)
QIB Shares Offered12,86,400 (18.91%)
NII (HNI) Shares Offered9,64,800 (14.18%)
Retail Shares Offered22,51,200 (33.09%)
Total Shares Offered68,04,000 (100%)
Indian Phosphate IPO Documents
DRHP
Indian Phosphate IPO Details


Indian Phosphate Limited IPO is an SME IPO, priced at ₹94-99 per equity share. The equity shares have a face value of ₹10 Per Equity Share each and will be listed on the NSE SME platform. The IPO comprises a total issue of 68,04,000 equity shares, aggregating up to ₹67.36 crores..

The IPO bidding window is open from Aug 26, 2024 to Aug 29, 2024. The allotment is expected to be finalized on Aug 30, 2024, and the tentative listing date is Sep 3, 2024.

The minimum lot size for retail investors is 1200 shares, with a minimum investment of ₹1,18,800. For HNIs, the minimum application size is 2 lots , amounting to ₹ 2,37,600.

Beeline Capital Advisors Pvt Ltd is acting as the lead manager to the issue. The registrar of the IPO is Bigshare Services Pvt Ltd, and Spread X Securities Private Limited will act as the market maker for this issue.

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Indian Phosphate IPO Subscription Analysis And Details
Retail
238.44x
Total
265.53x
As onQIB / NIIRetailTotal
Shares Offered / Reserved1,286,400 / 964,8002,251,2004,502,400
Day 1 26-08-24 06:00 PM
0.39 / 8.50 x20.33 x12.10 x
Day 2 27-08-24 06:00 PM
3.63 / 26.50 x62.06 x37.75 x
Day 3 28-08-24 06:00 PM
8.90 / 61.84 x132.55 x82.07 x
Day 4 29-08-24 06:00 PM
181.58 / 440.69 x238.44 x265.53 x
Total No of Applications
4,49,404
Indian Phosphate Valuations
EPS Pre IPO ₹9.13/-
EPS Post IPO ₹6.23/-
P/E Pre IPO 10.85
P/E Post IPO 15.88
ROE 18.14%
ROCE 20.93%
Debt/Equity 0.50
RoNW 16.63%
PAT Margin 1.91
Price to Book Value 2.23
Indian Phosphate Company Financials
In Lakhs
In Lakh
31-Mar-2431-Mar-2331-Mar-2231-Mar-21
Assets25,518.617,407.4510,789.936,313.71
Revenue71,757.8177,093.255,838.5641,501.81
Profit After Tax1,210.211,659.531,616.61509.44
Net Worth8,099.066,751.85,092.273,475.66
Reserves & Surplus6,280.566,480.374,820.843,204.23
Total Borrowing4,023.171,535.481,830.58434.04
About Indian Phosphate Company

Indian Phosphate Limited was established in 1998. It manufactures Linear Alkyl Benzene Sulfonic Acid LABSA 90%, commonly known as LABSA, an anionic surfactant used in the formulation of all types of washing powders, cakes, toilet cleaners, and liquid detergents.

In addition, the company manufactures Single Super Phosphate (SSP) and Granules Single Super Phosphate (GSSP) manufactured and supplied in powder and granule form as per the norms of the Fertilizer Control Regulation of India and are fortified with Zinc and Boron.

The Company has its manufacturing plant in Girwa district, Udaipur, Rajasthan, near the two raw materials that are used to manufacture the products: (a) sulphuric acid 98%, and (b) rock phosphate. The second important raw material is linear alkyl benzene (LAB) obtained from IOCL, Vadodara, Nirma Ltd, Vadodara and Reliance Industries Ltd, Patalganga.

Indian Phosphate Limited has presence in major states like Punjab, Bihar, Gujarat, Haryana, Madhya Pradesh, Maharashtra, Rajasthan, Uttar Pradesh, Himachal Pradesh, West Bengal, and Uttarakhand.

The company had 105 employees as of March 31, 2024.

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Indian Phosphate - Promoter(s)

Mr. Ravindra Singh

Mrs. Mamta Arora

Mr. Rushil Arora

Pre Issue Share Holding : 100%

Post Issue Share Holding : 72.77%

Indian Phosphate IPO - Issue Objectives
1

For Setting up a new manufacturing facility at SIPCOT Industrial Park Phase-I, Kudikadu Village, Cuddalore District ('C' District) Plot(s) - Plot No.C-17/A, TamilNadu for manufacturing of Sulphuric Acid, LABSA 90%, and Magnesium Sulphate.

2

To Meet Working Capital Requirements.

3

For General Corporate Purposes

Indian Phosphate IPO - Peers Comparison
Company NameEPS (Basic)EPS (Diluted)NAV (per share) (Rs)P/E (x)RoNW (%)P/BV RatioFinancial statements
Indian Phosphate Limited6.65N/A44.34N/A15.012.25Consolidated
Rama Phosphates Ltd.-17.56N/A199.41N/A-8.810.8Standalone

Notes:

  1. The P/E Ratio has been computed based on the closing market price of equity shares on the NSE/BSE on March 28, 2024, divided by the Diluted EPS.
  2. RoNW is computed as net profit after tax divided by the closing net worth. Net worth has been computed as the sum of share capital, reserves, and surplus.
  3. NAV is computed as the closing net worth divided by the closing outstanding number of equity shares adjusted for bonus shares.
Contact Details

Indian Phosphate

Plot 638, Sector-11, Udaipur City, Girwa, Girwa - 313001

0294-2946959

investor@indianphosphate.com

http://www.indianphosphate.com/

Registrar Contact Details

Bigshare Services Pvt Ltd

+91-22-6263 8200

ipo@bigshareonline.com

https://ipo.bigshareonline.com/ipo_status.html