Paradeep Phosphates Ltd

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At 10:07 am; Paradeep Phosphates was trading at Rs 45.85, up 5 per cent from its opening level on the BSE. A combined around 56 million equity shares had changed hands on the BSE and NSE.

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Retail investor portion subscribed 91%, HNI 20%; institutional investor category received negligible bids

The initial public offer of Paradeep Phosphates was subscribed 29 per cent on the first day of subscription on Tuesday. The IPO received bids for 7,86,87,000 shares against 26,86,76,858 shares on offer, according to data available with NSE. The category for Retail Individual Investors (RIIs) was subscribed 57 per cent and the portion for non-institutional investors attracted 6 per cent subscription. The Initial Public Offer (IPO) has a fresh issue of equity shares aggregating to Rs 1,004 crore and an offer for sale of up to 11,85,07,493 equity shares. As part of the OFS, Zuari Maroc Phosphates Pvt Ltd (ZMPPL) will offload 60,18,493 equity shares and the government of India will sell up to 11,24,89,000 equity shares. The government will be offloading its entire 19.55 per cent stake in the company. Currently, ZMPPL holds 80.45 per cent stake and the government of India owns the rest 19.55 per cent stake in the company. The price range for the offer is at Rs 39-42 per share. On Fr

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Fertilizer company Paradeep Phosphates on Friday said it has raised a little over Rs 450 crore from anchor investors days before the roll-out of its initial public offering.

The company prepared a draft red herring prospectus and sought views, as well as a go-ahead, from DIPAM

The plant is located in Goa

The company has more than 900 regular employee and around 3,500 contractual employees working in its plant

The Paradeep plant of PPL, at present, has a capacity to produce 1.2 million tonnes of Di-ammonium phosphate (DAP) and NPK fertilisers