Balaji Phosphates IPO: Check Offer Size, Price Band, GMP, Subscription And More
The grey market premium (GMP) for Balaji Phosphates IPO stood at Rs 0 as of 8:53 a.m. on Feb. 28, according to InvestorGain.
Balaji Phosphates Ltd. launched its initial public offer on Friday. The company, which manufactures fertilisers such as Single Super Phosphate (SSP) and NPK Granulated, aims to raise over Rs 50 crore from investors in the primary market. Those looking to invest in this NSE SME offer can check out these key details before submitting their bids in the IPO.
Balaji Phosphates IPO: Key Details
Balaji Phosphates IPO is a book-built issue of Rs 50.11 crore. It comprises a fresh issue of 59.40 lakh shares worth Rs 41.58 crore and an offer for sale of 12.18 lakh shares worth Rs 8.53 crore.
The price band for the IPO is set at Rs 66 to Rs 70 per share.
Balaji Phosphates has reserved 30% of the net issue size for qualified institutional buyers (QIBs), 40% for retail investors and the remaining 30% for non-institutional investors (NIIs).
Retail investors can bid with a minimum lot size of 2,000, requiring an investment of Rs 1,40,000.
The subscription window for the IPO will be open from Feb. 28 to Mar. 4. Allotment of shares is proposed to be finalised on Mar. 5. Credit of shares into the demat account of successful bidders will be done on Mar. 6 along with refund to non-allottees.
Shares of Balaji Phosphates Ltd. are proposed to be listed on the NSE SME platform, Emerge, on Mar. 7.
Arihant Capital Markets Ltd. is the book-running lead manager of the Balaji Phosphates IPO. Skyline Financial Services Pvt. is the registrar and NNM Securities Pvt. is the market maker for the SME issue.
Balaji Phosphates IPO Subscription Status
*The subscription status will be updated soon
Balaji Phosphates IPO GMP Today
The grey market premium (GMP) for Balaji Phosphates IPO stood at Rs 0 as of 8:53 a.m. on Feb. 28, according to InvestorGain. It indicates a potential flat listing for the shares of Balaji Phosphates Ltd.
Note: GMP does not represent official data and is based on speculation.
Balaji Phosphates Ltd.: Business and Financials
Balaji Phosphates Limited is engaged in the business of manufacturing and selling fertilisers like single super phosphate (SSP), NPK granulated and mixed fertilisers, and zinc sulphate. These products are sold under the brand names ‘Ratnam’ and ‘BPPL’.
Use of Proceeds
The company will use net proceeds from the fresh offer for capital expenditure requirements, working capital requirements and general corporate purposes.
Financials
Balaji Phosphates Ltd. posted a profit after tax of Rs 6.04 crore in FY24 compared to Rs 6.09 crore in FY23. Its revenue for FY24 stood at Rs 151.68 crore, marking an increase from Rs 144.64 crore in FY23
For the period ending Aug. 31 in FY25, the company posted a revenue of Rs 54.85 crore along with a profit after tax of Rs 4.15 crore.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
