Pradeep Phosphates IPO Share Allotment Finalised: How to Check Via BSE, KFin Tech, GMP

The share allotment status of Pradeep Phosphates‘ initial public offering (IPO) will be announced on Tuesday, May 24. Paradeep Phosphates IPO has been subscribed 1.75 times on the last day of the issue. The company, which is primarily engaged in manufacturing, trading, distribution and sales of a variety of complex fertilizers such as DAP, three grades of Nitrogen-Phosphorus-Potassium (NPK) (namely NPK-10, NPK-12 and NP-20) , Zypmite, Phospho-gypsum and Hydrofluorosilicic Acid (HFSA), set the price band at Rs 39-42 per share for this IPO.

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: Subscription Status

Paradeep Phosphates IPO saw a decent subscription rate as investors booked 1.75 times or 47,02,00,150 shares against the issue size of 26,86,76,858 shares up for sale. This was backed by the superb response by qualified institutional buyers, who subscribed 3.01 times or 24,32,41,250 shares against the 8,07,05,162 equity shares reserved for them. On the other hand, the retail individual investors (RIIs) category got subscribed by 1.37 times with bids of 18,06,17,150 equity shares on a consolidated basis against the reserved portion of 13,15,80,187 equity shares. However, the non institutional investors category, which had seen a tepid response from Day 1, did not get fully booked as investors only subscribed 82 per cent or 4,63,41,750 shares against their total portion size of 5,63,91,509 equity shares .

Paradeep Phosphates IPO: GMP Today

According to gray market observers, Paradeep Phosphates IPO GMP (grey market premium) today is Rs.50, which is lower from its yesterday’s gray market premium. Market observers said that Paradeep Phosphates IPO GMP today is Rs.50, which means the gray market is expecting that Paradeep Phosphates IPO listing would be around Rs 42.5 ( Rs 42 + Rs.50).

Paradeep Phosphates IPO: Allotment Status

How to check Paradeep Phosphates IPO allotment status on BSE

Step 1- Login at BSE link — bseindia.com/investors/appli_check.aspx

Step 2- Enter IPO name- Paradeep Phosphates

Step 3- Enter the IPO application number

Step 4- Enter PAN card details

Step 5 – Click at ‘I’m not a robot’

Step 6 – Click at ‘Submit’ button

How to check Paradeep Phosphates IPO allotment status on KFintech website

1) Login at direct KFintech website — https://ris.kfintech.com/ipostatus/ipos.aspx

2) Select the IPO name (Paradeep Phosphates) from the drop down- LIC IPO

3) Now select application number/DPID/Client ID/PAN

4) Enter application number followed by Captcha code

5) Now Click at ‘Submit’ option and your IPO application status will become available on your computer monitor or Smartphone screen.

The net proceeds from the fresh issue will be used for part financing of the acquisition of the Goa facility, repayment/prepayment of certain borrowings and for general corporate purposes, according to the details given in the red herring prospectus (RHP).

The listing of shares of Paradeep Phosphates is likely to take place on Friday, May 27, 2022, on both the NSE and BSE.

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