Paradeep Phosphates IPO, which was open for public subscription between May 18 to May 20, received a decent response from investors and got subscribed 1.75 times as it got bids for 47,02,00,150 shares against the issue size of 26,86,76,858 shares up for sale. The share allotment to investors will take place on Tuesday (May 24).
Paradeep Phosphates IPO: Venus Pipes & Tubes IPO GMP
According to chanakyanipothi.com, the shares of Paradeep Phosphates Ltd (PPL) are currently trading at a premium of Rs 0.20 in the gray market, over the upper band of Rs 326. It is almost no gain over the issue price and just the same as the upper issue price. It means the shares in the gray market are trading at Rs 326.2 apiece. It also indicates the expected listing price of the company’s shares is going to be the same as the issue price. The premium gets fluctuated based on the sentiments in the markets.
Paradeep Phosphates IPO: How to Check Allotment Status
According to the red herring prospectus, Paradeep Phosphates will finalize the allotment by Tuesday (May 24). Here’s how you can check allotment status:
a) Go to the official website of BSE or Bombay Stock Exchange. The link is (https://www.bseindia.com/investors/appli_check.aspx)
b) It will take you to a page called ‘Status of Issue Application’
c) After you land on the page, click on the ‘Equity’ option
d) From the drop-down menu that will be displayed beside the issue name, select the option ‘Paradeep Phosphates Limited’
e) Write your application number on the page
f) After that, write you Permanent Account Number or PAN
g) Click on the Captcha that says ‘I am not a Robot’ and click on submit
h) After you click on the option, the details of your allotment status of your bid. The status will be visible only after the share allotment gets finalised.
Apart from this, applicants can also check the status of their allotment on the website of the registrar of the IPO, which in this case is Link Intime India (Click here: https://linkintime.co.in/MIPO/Ipoallotment.html). Applicants will need to select Paradeep Phosphates Limited – IPO in the drop-down menu and enter either their PAN, application number or DP Client ID. and click on search to view their allotment status.
Paradeep Phosphates IPO: Basic Details
Paradeep Phosphates IPO, which was expected to mop up Rs 1,501 crore, had fixed its price band at Rs 39-Rs 42 per equity share. Through the Paradeep Phosphates IPO, the company has brought a fresh issue of Rs 1004 crore and an offer for sale of Rs 498 crore by the selling shareholders, with the Government of India selling its entire stake.
The listing of shares of Paradeep Phosphates is likely to take place on May 27 on both the NSE and BSE.
The objects of the offer are to facilitate part financing of the acquisition of the Goa facility for Rs 520 crore and Repayment/ prepayment of some of the company’s borrowings, where Rs 300 crore will be utilized. The remaining portion will be used for general corporate purposes.
Paradeep Phosphates IPO: The Analyst Take
Axis Securities in its report has said, “PPL tailwind are expected to overpower the cost inflation headwinds, the strategic acquisition of Goa plant will solidy PPL’s position in the domestic fertilizer market, with increased presence in key states. We believe the IPO is priced at discount to its fair value.
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