The initial public offering of Indian Phosphate Limited received a fantastic response from the investors as the issue was subscribed more than 267 times on its fourth and final day on Thursday, led by demand from non-institutional investors.
Subscription Status: Day 4
The IPO was subscribed 267.89 times as of Thursday.
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Qualified institutional buyers: 181.58 times.
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Non-institutional investors: 441.01 times.
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Retail investors: 243.02 times.
The 4-day bidding for the SME issue saw it getting subscribed 12.10 times on Day 1, 37.75 times on Day 2, and 82.07 times on Day 3.
The allotment for the Indian Phosphate IPO will be finalised on Friday, August 30. Investors who bid for the issue can check Indian Phosphate IPO allotment status on the IPO registrar website.
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Visit the Bigshare Services website here.
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Select any one server to check your IPO Allotment Status.
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Choose "Indian Phosphate Limited" from the list of companies.
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In the Selection Type dropdown, choose either Application number, Beneficiary ID, or PAN ID.
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Enter the required information, which could be your application number, PAN (Permanent Account Number), or Beneficiary ID.
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Complete the 'captcha' to verify that you are not a robot.
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Finally, click the "Search" button to check your allotment status.
Indian Phosphate IPO Listing Date
The shares of Indian Phosphate Limited are set to be listed on NSE SME with Tuesday, September 3 as the likely listing date.
Indian Phosphate IPO Timeline
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IPO Open Date: Monday, August 26
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IPO Close Date: Thursday, August 29
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Basis of Allotment: Friday, August 30
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Initiation of Refunds: Monday, September 2
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Credit of Shares to Demat: Monday, September 2
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Listing Date: Tuesday, September 3
About Indian Phosphate IPO
Indian Phosphate launched its IPO on Aug. 26 to raise Rs 67.36 crores by issuing 68.04 lakh fresh shares. The price band for the IPO was set between Rs 94 and Rs 99 per share.
As per the company’s red herring prospectus, out of the 68,04,000 shares offered – 18.91% were reserved for Qualified Institutions, 14.18% for Non-institutional investors, 33.09% for Retail investors and 28.34% for Anchor investors.
Retail investors had to apply for a minimum of 1,200 shares, which amounts to a minimum investment of Rs 1,18,800. High net-worth individuals needed to apply for a minimum of 2,400 shares, totaling an investment of Rs 2,37,600. Beeline Capital Advisors Pvt. is the book-running lead manager for the IPO, while Bigshare Services Pvt will be the registrar. Spread X Securities is the market maker for the issue.
About Indian Phosphate Limited
Indian Phosphate Limited, established in 1998, is a company that produces LABSA 90%, a key ingredient used in making washing powders, toilet cleaners, and liquid detergents. They also manufacture Single Super Phosphate (SSP) and Granules Single Super Phosphate (GSSP), which are fertilizers enriched with Zinc and Boron. Their factory is in Udaipur, Rajasthan, near key raw materials like sulphuric acid and rock phosphate. LAB, another essential material, is sourced from companies like IOCL and Reliance. The company operates in several Indian states and employs 105 people as of March 31, 2024.
. Read more on IPOs by NDTV Profit.