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20 Nov 2024
Indian Phosphate Limited IPO And Its GMP
Indian Phosphate Limited is mainly engaged in the production of Linear Alkylbenzene Sulphonic Acid LABSA 90%, popularly known as LABSA, is an anionic surfactant and it is used in the formulation of all types of detergent powders, cakes, toilet cleaners and liquid detergents. They are also engaged in the manufacturing of “Single Super Phosphate” (SSP) fertilizer and “Granules Single Super Phosphate” (GSSP) Fertilizer which is manufactured and supplied as per the standards of Fertilizer Control Order of India in powder and granulated form as well as fortified with zinc and boron.
Single Super Phosphate and Granules Single Super Phosphate is a natural fertilizer used in agriculture. Their company operates from its manufacturing facility located at Udaipur, Rajasthan which is close to the supply of both raw materials (a) Sulphuric Acid 98% (b) Rock Phosphate used in the manufacturing of our products. The other major raw material Linear Alkylbenzene (LAB) is sourced from IOCL, Vadodara, Nirma Ltd., Vadodara and Reliance Industries Ltd., Patalganga.
IPO Size: ₹67.36 crores
Issue Type: Fresh issue of 68.04 lakh shares
Price Band: ₹94 to ₹99 per share
Subscription Period: August 26, 2024, to August 29, 2024
Minimum Lot Size: 1200 shares
Book Running Lead Manager: Beeline Capital Advisors Pvt Ltd
Registrar: Bigshare Services Pvt Ltd
WHAT IS GMP?
GMP stands for Grey Market Premium, and if you are planning your IPO then GMP plays an important role. A grey market is a place where stocks/shares get traded before getting officially listed on any stock exchange. The difference between the IPO price and the grey market price is known as GMP (grey market premium). GMP is a premium amount paid at which initial public offering (IPO) shares are traded before it is listed on the stock exchanges.
Indian Phosphate IPO GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 02-09-2024 | 99 | 100.0 (101%) | 02-Sep-2024 13:10 |
| 30-08-2024 | 99 | 100.0 (101%) | 30-Aug-2024 13:10 |
| 29-08-2024 | 99 | 115.0 (116%) | 29-Aug-2024 12:30 |
| 28-08-2024 | 99 | 135.0 (136%) | 28-Aug-2024 13:30 |
| 27-08-2024 | 99 | 125.0 (126%) | 27-Aug-2024 13:10 |
| 25-08-2024 | 99 | 90.0 (91%) | 25-Aug-2024 12:20 |
| 24-08-2024 | 99 | 90.0 (91%) | 24-Aug-2024 13:17 |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Indian Phosphate IPO Overview
| Detail | Description |
|---|---|
| IPO Date | August 26, 2024 to August 29, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹94 to ₹99 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 6,804,000 shares (aggregating up to ₹67.36 Cr) |
| Fresh Issue | 6,804,000 shares (aggregating up to ₹67.36 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 18,185,609 |
| Shareholding post issue | 24,989,609 |
| Market Maker portion | 373,200 shares |
Indian Phosphate IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| IPO Open Date | Monday, August 26, 2024 |
| IPO Close Date | Thursday, August 29, 2024 |
| Basis of Allotment | Friday, August 30, 2024 |
| Initiation of Refunds | Monday, September 2, 2024 |
| Credit of Shares to Demat | Monday, September 2, 2024 |
| Listing Date | Tuesday, September 3, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 29, 2024 |
Indian Phosphate IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹118,800 |
| Retail (Max) | 1 | 1200 | ₹118,800 |
| HNI (Min) | 2 | 2,400 | ₹237,600 |
Indian Phosphate IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Indian Phosphate IPO Promoter Holding
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue |
Company & Financials
Indian Phosphate Limited, established in 1998, produces 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. IPL, a company specializing in manufacturing and supplying Single Super Phosphate (SSP) fertilizer, began its journey by trading dolomite and limestone. In 2004, it commissioned a manufacturing facility of SSP with an installed capacity of 200 MT/day. In 2009, it diversified into the chemical business by setting up its first Sulphonation Plant of LABSA 90% with an installed 150 MT/day capacity. Later on, in 2010, to meet increased demand, the company expanded its SSP fertilizer capacity from 200 MT/day to 400 MT/day and also commenced manufacturing of Granules Single Super Phosphate with an installed capacity of 200 MT/day. Subsequently, in 2011, the company expanded its Granules Single Super Phosphate fertilizer capacity from 200 MT/day to 400 MT/day. In 2022, it commissioned a second LABSA 90% plant with an installed capacity of 200 MT/day increasing its combined capacity for manufacturing LABSA 90% to 350 MT/day. In November 2022, the company also ventured into the non-renewable energy sector (for captive consumption) by setting up a 750 KWh solar plant in Bikaner.
Indian Phosphate Limited Financial Information
| Period Ended | 31 Oct 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | ||||||||||||||||||||||||||||||||||||
| Assets | 16,419.52 | 17,407.45 | 10,789.93 | 6,313.71 | ||||||||||||||||||||||||||||||||||||
| Revenue | 41,140.58 | 77,093.2 | 55,838.56 | 41,501.81 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 908.82 | 1,659.53 | 1,616.61 | 509.44 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 7,660.61 | 6,751.8 | 5,092.27 | 3,475.66 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 7,389.18 | 6,480.37 | 4,820.84 | 3,204.23 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 3,374.56 | 1,535.48 | 1,830.58 | 434.04 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 18.14% |
| ROCE | 20.93% |
| RoNW | 16.63% |
| P/BV | 2.23 |
| PAT Margin (%) | 1.91 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 9.13 | 6.23 |
| P/E (x) | 10.85 | 15.88 |
Objectives of Indian Phosphate IPO
The Issue Proceeds from the Fresh Issue will be utilized towards the following 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 Review
Though the company started as a fertiliser products manufacturing and marketing business, it diversified into the chemical industry with the manufacturing of LABSA and has turned into a preferred partner by HUL for key ingredient LABSA suppliers for its major products like detergents, toiletries, soaps etc. It established its association with HUL in 2009 and its bond has strengthened with the new chemical plant being earmarked for a 100% supply point for HUL, it is poised for bright prospects ahead. Based on FY24 earnings, though the issue appears relatively fully priced, investors may park funds for the medium to long term.
FAQs for Indian Phosphate IPO
-
What is the Indian Phosphate IPO?
Indian Phosphate IPO is an NSE SME IPO. They are going to raise ₹67.36 Crores via IPO. The issue is priced at ₹94 to ₹99 per equity share. The IPO is to be listed on NSE.
-
When will the Indian Phosphate IPO open?
The IPO is to open on August 26, 2024, for QIB, NII, and Retail Investors.
-
What is the Indian Phosphate IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
-
What is Indian Phosphate IPO Size?
Indian Phosphate IPO size is ₹67.36 crores.
-
What is the Indian Phosphate IPO Price Band?
Indian Phosphate IPO Price Band is ₹94 to ₹99 per equity share.
-
What is the Indian Phosphate IPO Minimum and Maximum Lot Size?
The IPO bid is 1200 shares with ₹118,800.
-
What is the Indian Phosphate IPO Allotment Date?
Indian Phosphate IPO allotment date is August 30, 2024.
-
What is the Indian Phosphate IPO Listing Date?
Indian Phosphate IPO listing date is September 3, 2024. The IPO to list on NSE SME.
-
What is the current GMP of the Indian Phosphate?
The current GMP of Indian Phosphate is 100.0 (101%)).
RHP:
RHP of Indian Phosphate Limited IPO.
DRHP:
DRHP of Indian Phosphate Limited IPO.
-
What is the Indian Phosphate IPO?
Indian Phosphate IPO is an NSE SME IPO. They are going to raise ₹67.36 Crores via IPO. The issue is priced at ₹94 to ₹99 per equity share. The IPO is to be listed on NSE.
-
When will the Indian Phosphate IPO open?
The IPO is to open on August 26, 2024, for QIB, NII, and Retail Investors.
-
What is the Indian Phosphate IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
-
What is Indian Phosphate IPO Size?
Indian Phosphate IPO size is ₹67.36 crores.
-
What is the Indian Phosphate IPO Price Band?
Indian Phosphate IPO Price Band is ₹94 to ₹99 per equity share.
-
What is the Indian Phosphate IPO Minimum and Maximum Lot Size?
The IPO bid is 1200 shares with ₹118,800.
-
What is the Indian Phosphate IPO Allotment Date?
Indian Phosphate IPO allotment date is August 30, 2024.
-
What is the Indian Phosphate IPO Listing Date?
Indian Phosphate IPO listing date is September 3, 2024. The IPO to list on NSE SME.
-
What is the current GMP of the Indian Phosphate?
The current GMP of Indian Phosphate is 100.0 (101%)).
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