Paradeep Phosphates IPO to open on May 17

The Initial Public Offering of Paradeep Phosphates Limited will open on May 17, 2022. The Price Band of the Offer has been fixed at Rs 39 per equity share to Rs 42 per equity share of the face of Rs 10 each. Bids for the IPO of Paradeep Phosphates can be made for a minimum of 350 equity shares and in multiples of 350 equity shares after that.

Paradeep Phosphates via this IPO  will issue fresh equity shares with a face value of Rs 10 each share aggregating to Rs 10,040 million and Offer the Sale of up to 118,507,493 equity shares by Promoter Selling Shareholders and GoI Selling Shareholder.

The firm aims to utilize the capital from the fresh issue to finance the take over of the Goa Facility,  repayment and prepayment of certain of our borrowings; and for general corporate purposes. The offer for sale includes up to 6,018,493 equity shares by Zuari Maroc Phosphates Private Limited and up to 112,489,000 equity shares by The President of India, acting through the Ministry of Chemicals and Fertilizers.