Paradeep Phosphates IPO
Paradeep Phosphates IPO — date, price band, lot size & details 2022
Paradeep Phosphates listed on 27 May 2022 at ₹44, 4.8% above the ₹42 issue price.
Paradeep Phosphates makes non-urea fertilisers such as DAP and NPK grades at Paradeep, Odisha, and is the second largest private maker of DAP in India by volume. Its total income was Rs 5,183.94 crore in FY2021.
Stock price
Paradeep Phosphates is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 17 May 2022
- Close 19 May 2022
- Allotment 24 May 2022
- Refund/credit 25 May 2022
- Listing 27 May 2022
Issue summary
The terms of the offer, as filed.
| IPO Dates | 17 to 19 May, 2022 |
|---|---|
| Price Band | ₹39 – ₹42 |
| Face Value | ₹10 |
| Lot Size | 350 Shares |
| Issue Size | ₹1501.73 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,700 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 350 shares at the ₹42 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 350 | ₹14,700 |
| Retail (max) | 13 | 4,550 | ₹1,91,100 |
| S-HNI (min) | 14 | 4,900 | ₹2,05,800 |
| S-HNI (max) | 68 | 23,800 | ₹9,99,600 |
| B-HNI (min) | 69 | 24,150 | ₹10,14,300 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Profit after tax rose from Rs 158.96 crore in FY2019 to Rs 223.27 crore in FY2021.
- 02Profit after tax was Rs 362.78 crore in the nine months to 31 December 2021, above the full FY2021 figure.
- 03The pre-issue P/E was 10.82 at the upper band of Rs 42, based on EPS of Rs 3.88.
- 04Rs 1,004.00 crore of fresh capital was raised to buy the Goa facility and cut debt.
- 05Total income rose from Rs 4,397.21 crore in FY2019 to Rs 5,183.94 crore in FY2021.
Risks · 5
- 01Fertiliser profits depend on government subsidy rates and on imported raw material prices. The source puts the PAT margin at 4.30%.
- 02Total borrowing rose from Rs 1,251.17 crore on 31 March 2021 to Rs 2,240.91 crore on 31 December 2021.
- 03All production before the Goa purchase came from one plant at Paradeep, Odisha, with total income of Rs 5,973.69 crore in nine months.
- 04Rs 497.73 crore of the issue was offer for sale by the government, so that part did not reach the company.
- 05Promoter holding fell from 100% before the issue to 56.84% after it, as the government sold its entire stake.
Three years of numbers
All figures in ₹ crore, as reported in the Paradeep Phosphates offer document.
| Metric | 31 Dec 2021 | 31 Mar 2021 | 31 Mar 2020 | 31 Mar 2019 |
|---|---|---|---|---|
| Assets | 7,186.27 | 4,423.17 | 5,010.33 | 5,627.66 |
| Total Income | 5,973.69 | 5,183.94 | 4,227.78 | 4,397.21 |
| Profit After Tax | 362.78 | 223.27 | 193.22 | 158.96 |
| EBITDA | 593.06 | 561.26 | 493.83 | 480.75 |
| NET Worth | 2,188.79 | 1,827.51 | 1,603.53 | 1,482.71 |
| Reserves and Surplus | 1,613.34 | 1,252.06 | 1,028.08 | 907.26 |
| Total Borrowing | 2,240.91 | 1,251.17 | 2,297.95 | 3,123.00 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Paradeep Phosphates RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Paradeep Phosphates IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹3.88 | ₹5.94 |
| P/E Ratio (x) | 10.82 | 7.07 |
| Market Cap at Offer Price (₹ Cr) | ₹3,927.00 | ₹2,565.11 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹42 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹963.15 Cr of the issue is earmarked to named objects.
About the company
It was the second largest private maker of non-urea fertilisers and DAP by sales volume in the nine months to 31 December 2021. Its brands are Jai Kisaan-Navratna and Navratna.
Its plant at Paradeep in Odisha has DAP and NPK, sulphuric acid and phosphoric acid units. Before the issue it was owned by Zuari Maroc Phosphates, which held 80.45%, and the Government of India, which held 19.55% and sold all of it in the offer.
The IPO was Rs 1,501.73 crore, with Rs 1,004.00 crore of fresh issue and Rs 497.73 crore of offer for sale by the government. Rs 520.00 crore was planned for buying the Goa facility and Rs 300.00 crore for repaying borrowings.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Paradeep Phosphates IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
125 issues handledBest listing: Tata Technologies (+140.0%). Weakest: ACME Solar Holdings (-13.1%).
SBI Capital Markets Ltd.
70 issues handledBest listing: Bajaj Housing Finance (+114.3%). Weakest: Kalyan Jewellers India (-15.0%).
Axis Capital
126 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
ICICI Securities
133 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Paradeep Phosphates?
The current Grey Market Premium is ₹3, or 7% over the issue price.
What is the Paradeep Phosphates IPO price band?
₹39 to ₹42, on a face value of ₹10.
When is the allotment?
The basis of allotment is 24 May 2022, with listing on 27 May 2022.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
