Indian Phosphate, a company that produces specialty chemicals, is set to launch its Initial Public Offering (IPO) on Monday, August 26. The price range for the IPO is between ₹94 and ₹99 per share. The company plans to raise around ₹67.36 crore by offering 68.04 lakh new shares.
Key Dates for the IPO
- The IPO will close on Thursday, August 29.
- Bidding for the Anchor portion begins on Friday, August 23.
- The allotment of shares will be finalized on Friday, August 30.
- The shares are expected to list on the NSE SME platform on Tuesday, September 3.
Investment Details
- The minimum lot size for an application is 1,200 shares, meaning retail investors will need to invest at least ₹1,18,800.
Purpose of the IPO
The money raised from the IPO will be used to build a new manufacturing facility for producing sulphuric acid, LABSA 90%, and magnesium sulphate in SIPCOT Industrial Park, located in Cuddalore District, Tamil Nadu. Some of the funds will also be used for working capital needs and general corporate purposes.
About Indian Phosphate Limited
Indian Phosphate produces Linear Alkylbenzene Sulfonic Acid, which is used in making detergent powders, cakes, liquid detergents, and toilet cleaners. The company also makes “Single Super Phosphate” fertilizer, which meets Indian Fertilizer Control Order standards, available in both powder and granulated forms, and sometimes fortified with zinc and boron.
Their manufacturing facility is located in Umarda, Girwa district, Udaipur, Rajasthan.
Financial Performance
- Revenue for FY21 was ₹414.52 crore, which increased to ₹557.15 crore in FY22, and ₹768.69 crore in FY23.
- Profit after tax for FY21 was ₹5.09 crore, growing to ₹16.17 crore in FY22, and ₹16.60 crore in FY23.
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