The price band set at Rs 94/- to Rs 99/- per Equity Shares; The IPO consists of fresh issue of up to Rs 67.36 crores
FinTech BizNews Service
Mumbai, August 22, 2024: Udaipur based leading manufacturer of Linear Alkylbenzene Sulphonic Acid 90% (LABSA 90%), Single Super Phosphate (SSP), Granules Single Super Phosphate (GSSP) Indian Phosphate has fixed the price band of Rs94/- to Rs99/- per Equity Share of face value Rs10/- each for its maiden initial public offer. The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Monday, August 26 th, 2024, for subscription and close on Thursday, August 29th, 2024. Investors can bid for a minimum of 1,200 Equity Shares and in multiples of 1,200 Equity Shares thereafter.
• Price Band of Rs94/ – Rs99/- per equity share bearing face value of Rs10/- each (“Equity Shares”)
• Issue Size: Rs 67.36 Cr.
• Anchor Bid/Offer date: Friday August, 23, 2024.
• Retail, HNI, QIB Bid/Offer Opening Date – Monday, August 26, 2024 and Bid/Offer Closing Date – Thursday, August 29, 2024.
• Bid Lot Size: 1200 Equity Shares
• Anchor Quota: 19,28,400 Equity Shares • QIB Quota: 12,86,400 Equity Shares • NII Quota: 9,64,800 Equity Shares
• Retail Quota: 22,51,200 Equity Shares • Market Maker Quota: 3,73,200 Equity Shares The IPO consists of fresh issue of up to Rs 67.36 crores. The proceeds from its fresh issuance to the extent of Rs 33.18 crores will be used for setting up a new facility at SIPCOT Industrial Park, Tamil Nadu for manufacturing of LABSA 90%, Sulphuric Acid and Magnesium Sulphate and Rs. 24.90 crore to meet working Capital Requirement and for general corporate purpose. The company have also acquired 1,00,000 Sq. Mtr land on lease from MIDC Dhule, Maharashtra to manufacture Single Super Phosphate fertiliser, Di-Calcium Phosphate, Sulphuric Acid, Oleum 65% and Organic Fertilizers Indian Phosphate Ltd was incorporated in the year 1998. Over the years It has built deep expertise in manufacturing Linear Alkylbenzene Sulphonic Acid LABSA 90%, popularly known as LABSA, it is an anionic surfactant used in the formulation of all types of detergent powders, cakes, toilet cleaners and liquid detergents. It is also engaged in the manufacturing of “Single Super Phosphate” (SSP) fertilizer and “Granules Single Super Phosphate” (GSSP) Fertilizer, which is preferred phosphate fertilizer as it provides much needed nutrients to soil and is cheaper and readily available as compared to other phosphate fertilizer. The company have employed state-of-the-art manufacturing process and control technology in their Chemical and Fertilizer plant. Current production capacity of LABSA 90% stands at 350 MT/ day and that of SSP - 400 MT/day. The company markets its range of Single Super Phosphate under the brand name “Ankur SSP” in Uttar Pradesh, Punjab, Uttarakhand, Bihar, Madhya Pradesh, Rajasthan, Maharashtra, Haryana, Gujarat, Himachal Pradesh and West Bengal through dedicated channel partners in private sector as well as
