Indian Phosphate Limited, established in 1998, is a key player in the Indian chemical industry. It produces linear Alkylbenzene Sulfonic Acid (LABSA 90%), an essential anionic surfactant used in various cleaning products. Additionally, the company manufactures "Single Super Phosphate" (SSP) and "Granules Single Super Phosphate" (GSSP), fortified with Zinc and Boron, in compliance with India's Fertiliser Control Regulations.
Their manufacturing facility in Girwa district, Udaipur, Rajasthan, benefits from proximity to essential raw materials like sulphuric acid and rock phosphate, with LAB sourced from IOCL, Nirma, and Reliance Industries. The company, which has a strong presence across major Indian states, employs 105 people as of March 31, 2024, and is gearing up for its IPO. Continue reading this blog to understand the recently listed IPO, Indian Phosphate Limited IPO date and how to apply online for the IPO.
Indian Phosphate IPO is a book-built issue of ₹67.36 crores, comprising 68.04 lakh fresh shares. The IPO will be open for subscription from August 26 to August 29, 2024, with a price band of ₹94 to ₹99 per share. Listing on NSE SME is expected on September 3, 2024, with a minimum investment requirement of ₹118,800 for retail investors. As of August 22, 2024, 11:25 AM, the last Indian Phosphate IPO GMP is ₹0. With a price band set at ₹99.00, the estimated listing price for the Indian Phosphate SME IPO is ₹99 (cap price plus today's GMP). This results in an expected percentage gain or loss per share of 0.00%.
| IPO date | August 26, 2024 to August 29, 2024 |
| Listing date | Tuesday, September 3, 2024 |
| Price band | ₹94 to ₹99 per share |
| Face value | ₹10 per share |
| Indian Phosphate Limited IPO lot size | 1200 Shares |
| Share holding pre-issue | 18,185,609 |
| Share holding post issue | 24,989,609 |
| Total issue size | SME IPO of 6,804,000 shares(aggregating up to ₹67.36 Cr) |
| Fresh issue | SME IPO of 6,804,000 shares(aggregating up to ₹67.36 Cr) |
| Market maker portion | 373,200 sharesSpread X Securities |
| Listing at | NSE SME |
| Issue type | Book Built Issue IPO |
Understanding the lot size is crucial for investors. Below is a table detailing the minimum investment requirements and lot sizes for retail investors and HNIs in Indian Phosphate IPO.
| Application | Shares | Amount | Lots |
| HNI (Min) | 2,400 | ₹237,600 | 2 |
| Retail (Min) | 1200 | ₹118,800 | 1 |
| Retail (Max) | 1200 | ₹118,800 | 1 |
The Indian Phosphate IPO offers an exciting opportunity for investors to participate in a fresh issue of 68.04 lakh shares, with a total issue size of ₹67.36 crores. Scheduled to open for subscription on August 26, 2024, and close on August 29, 2024, this IPO is set to make its debut on the NSE SME with a tentative listing date of September 3, 2024. The price band is set between ₹94 and ₹99 per share, with investment options for both retail and HNI investors.
| Indian Phosphate Limited IPO open date | August 26, 2024, Monday |
| Indian Phosphate Limited IPO Close date | August 29, 2024, Thursday |
| Indian Phosphate Limited IPO allotment date | August 30, 2024, Friday |
| Initiation of refunds | September 2, 2024, Monday |
| Credit of shares to demat | September 2, 2024, Monday |
| Indian Phosphate Limited IPO listing date | September 3, 2024, Tuesday |
| Cut-off time for UPI mandate confirmation | August 29, 2024, at 5 PM |
Get ready for the Indian Phosphate IPO with our detailed reservation table. It covers essential information on the IPO's price band, subscription dates, and minimum investment amounts, ensuring you have all you need to make an informed decision.
| Investor Category | Shares Offered |
| NII (HNI) shares offered | Not less than 15.00% of the offer |
| Retail shares offered | Not less than 35.00% of the offer |
| QIB shares offered | Not more than 50.00% of the net offer |
Indian Phosphate Limited experienced a decline in financial performance between the fiscal years ending March 31, 2023, and March 31, 2024. The company's revenue decreased by 7%, while profit after tax (PAT) saw a significant drop of 27% during this period. The following table provides a detailed breakdown of the restated consolidated financial information for Indian Phosphate Limited.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Net worth | 8,099.06 | 6,751.80 | 5,092.27 | 3,475.66 |
| Revenue | 71,757.81 | 77,093.20 | 55,838.56 | 41,501.81 |
| Profit after tax | 1,210.21 | 1,659.53 | 1,616.61 | 509.44 |
| Reserves and surplus | 6,280.56 | 6,480.37 | 4,821 | 3,204.23 |
| Assets | 25,518.60 | 17,407.45 | 10,789.93 | 6,313.71 |
| Total borrowing | 4,023.17 | 1,535.48 | 1,831 | 434.04 |
*Amount in ₹ Lakhs
As of March 31 2024, the market capitalisation of Indian Phosphate IPO is valued at ₹247.4 crores. Key performance indicators (KPIs) include:
The company's price-to-book value (P/BV) ratio stands at 2.23, with a profit after tax (PAT) margin of 1.91%. The pre-IPO earnings per share (EPS) is ₹6.65, decreasing to ₹4.84 post-IPO, resulting in a price-to-earnings (P/E) ratio of 14.88x pre-IPO and 20.44x post-IPO.
The Indian Phosphate IPO aims to drive the company's growth by utilising the proceeds from the fresh issue for several key objectives. These include setting up a new manufacturing facility at SIPCOT Industrial Park in Tamil Nadu to produce sulphuric acid, LABSA 90%, and magnesium sulphate. Additionally, the shares will be allocated to meet working capital necessities and general corporate objectives. As you evaluate this IPO, consider how these strategic investments may enhance the company's market position. Staying informed about Indian Phosphate Limited's upcoming IPOs is crucial, as they provide further opportunities for investors looking to expand and strengthen their portfolios. Indian Phosphate Limited's growth potential makes this IPO an exciting opportunity to watch.
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