IPO Details
Bidding Dates
28 Feb '25 - 04 Mar '25
Minimum Investment
₹1,32,000 / 1 Lot (2,000 Shares)
Price Range
₹66-₹70
Maximum Investment
₹1,40,000 / 1 Lot (2,000 Shares)
Retail Discount
To be announced
Issue Size
₹50.11 Cr
Investor category and sub category
Retail Individual Investors (RII) | Non-institutional Investors (NII) | Qualified Institutional Buyers (QIB) |Balaji Phosphates IPO Important Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Feb 28, 25
IPO Closing Date
Mar 04, 25
Basis of Allotment
Mar 05, 25
Initiation of Refunds
Mar 06, 25
IPO Listing Date
Mar 07, 25
About Balaji Phosphates IPO
Balaji Phosphates IPO is set to raise ₹50.11 crore through a book-built issue. This includes a fresh issue of 59.40 lakh shares worth ₹41.58 crore and an offer for sale of 12.18 lakh shares totaling ₹8.53 crore. The IPO subscription period runs from February 28, 2025, to March 4, 2025. Allotment is expected to be finalised on March 5, 2025, with listing scheduled on NSE SME on March 7, 2025.
The IPO price band is set between ₹66 and ₹70 per share. Retail investors must apply for a minimum lot size of 2,000 shares, requiring an investment of ₹1,32,000. To avoid oversubscription issues, bidding at the cutoff price may be advisable, bringing the amount to approximately ₹1,40,000. High Net Worth Individuals (HNIs) need a minimum of two lots (4,000 shares), amounting to ₹2,80,000.
Arihant Capital Markets Ltd is the book-running lead manager, with Skyline Financial Services Private Ltd as the registrar. Nnm Securities Private Limited is the market maker. Investors can refer to the Balaji Phosphates IPO RHP for complete details.
Industry Outlook
- The Indian fertiliser industry plays a crucial role in supporting the agriculture sector, which contributes 19.9% to the country’s GDP and employs over 54.6% of the population. With increasing demand for fertilisers due to soil degradation and the need for higher crop yields, Balaji Phosphates Limited is well-positioned to benefit from this growing market.
- The Indian agricultural sector is projected to reach $24 billion by 2025, driven by rising rural incomes, technological advancements, and increasing food demand. With a strong focus on producing high-quality fertilisers, Balaji Phosphates Limited is set to capitalise on this growth by catering to the expanding agricultural needs of farmers across the country.
Balaji Phosphates IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Funds will be used to enhance production capacity and upgrade infrastructure to support future growth.
- The proceeds will ensure smooth business operations by maintaining adequate liquidity for day-to-day expenses.
- The remaining funds will be used for general corporate purposes.
About Balaji Phosphates Limited
Balaji Phosphates Limited, originally incorporated as Balaji Phosphate Private Limited on April 4, 1996, has grown into a key player in the fertilizer industry. Initially registered in Uttar Pradesh, the company later converted into a public limited entity on September 18, 2023, with its corporate identity updated accordingly.
Specialising in the manufacture and supply of Single Super Phosphate (SSP), NPK Granulated and Mixed Fertilizers, and Zinc Sulphate, the company ensures compliance with the Fertilizer Control Order of India. Products are marketed under the brand names 'RATNAM' and 'BPPL' to a diverse clientele, including retailers, wholesalers, and state-owned cooperatives, with farmers as the end users.
Phosphate fertilizers produced by the company are designed to enhance soil health and crop productivity. SSP improves root development, especially in acidic soils, while zinc sulfate addresses zinc deficiencies in alkaline and sandy soils. NPK fertilizers provide a balanced mix of essential nutrients, supporting optimal crop growth. Additionally, fortified SSP with zinc and boron aligns with government initiatives to combat soil deficiencies.
Operations are led by promoters Mohit Airen and Alok Gupta, who bring over 40 years of industry experience. The company employs 40 personnel across various functions. Its manufacturing unit in Dewas, Madhya Pradesh, spans approximately 12,600 square meters with an annual production capacity of 1,20,000 MT of SSP, 3,300 MT of Zinc Sulphate, and 49,500 MT of NPK fertilizers.
To maintain quality, raw materials undergo rigorous testing in an in-house laboratory equipped with advanced instruments. Rock Phosphate, a crucial raw material, is sourced internationally from Jordan, Morocco, and Egypt, while sulfuric acid is procured locally. The cost of goods sold accounted for over 70% of revenue in recent financial years, reflecting a commitment to quality and efficiency in operations.
How To Check the Allotment Status of Balaji Phosphates IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How To Apply for the Balaji Phosphates IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Balaji Phosphates IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of Balaji Phosphates IPO
Registered office: 305, Utsav Avenue, 12/5, Usha Ganj Jaora Compound,
Indore G.P.O., Indore (Madhya Pradesh)- 452001
Phone: +919827090267
E-mail: infous@balajiphosphates.com
Balaji Phosphates IPO Lot Size
|
Application |
Lots |
Shares |
Amount |
|
Retail (Min) |
1 |
2,000 |
₹1,32,000 |
|
Retail (Max) |
1 |
2,000 |
₹1,40,000 |
|
HNI (Min) |
2 |
4,000 |
₹2,80,000 |
Balaji Phosphates IPO Promoter Holding
Mr. Alok Gupta and Mr. Mohit Airen are the promoters of the company.
|
Share Holding Pre-Issue |
100.00% |
|
Share Holding Post Issue |
69.90% |
Balaji Phosphates IPO Reservation
|
Investor Category |
Shares Offered |
|
QIB Shares |
Not more than 30% of the Net Issue |
|
Retail Shares |
Not less than 40% of the Offer |
|
NII (HNI) Shares |
Not less than 30% of the Net Issue |
Balaji Phosphates IPO Anchor Investors Details
|
Bid Date |
February 27, 2025 |
|
Shares Offered |
12,24,000 |
|
Anchor Portion Size (In ₹ Cr.) |
8.57 |
|
Anchor lock-in period end date for 50% shares (30 Days) |
April 4, 2025 |
|
Anchor lock-in period end date for remaining shares (90 Days) |
June 3, 2025 |
Key Performance Indicators for Balaji Phosphates IPO
As of March 31, 2024, the market capitalisation of Balaji Phosphates's IPO is ₹166.44 crore. Here are the KPIs of Balaji Phosphates:
|
KPI |
Values |
|
ROE (%) |
18.89 |
|
ROCE (%) |
16.7 |
|
Debt/Equity |
0.95 |
|
PAT Margin |
4.00 |
|
Price to Book Value |
3.57 |
Price Metrics
|
Metric |
Pre-IPO |
Post-IPO |
|
EPS (₹) |
3.39 |
4.19 |
|
P/E (x) |
20.67 |
16.72 |
Note: The Pre-IPO EPS is based on the pre-issue shareholding as per the RHP and the latest FY earnings as of March 31, 2024. The Post-Issue EPS is calculated using the post-issue shareholding and annualized FY earnings as of August 31, 2024, as stated in the RHP.
Balaji Phosphates IPO Prospectus
Balaji Phosphates IPO Registrar and Lead Managers
Balaji Phosphates IPO Lead Managers
- Arihant Capital Markets Limited
Registrar for Balaji Phosphates IPO
Skyline Financial Services Private Limited
- Contact Number: 02228511022
- Email Address: ipo@skylinerta.com
Balaji PhosphatesIPO Registrar
Financial Performance of Balaji Phosphates Limited
| Particulars | Year ending on March 31, 2024 | Year ending on March 31, 2023 | Year ending on March 31, 2022 |
|---|---|---|---|
| Revenue from Operation (in ₹ lakh) | 15,154.63 | 14,454.24 | 12,365.34 |
| Profit After Tax (PAT) (in ₹ lakh) | 604.05 | 608.76 | 319.08 |
| EPS (Earnings per Share in ₹) | 3.39 | 3.42 | 1.79 |
| Debt-Equity Ratio (times) | 0.95 | 0.91 | 0.87 |
| Return on equity (%) | 18.89 | 23.5 | 15.0 |
| Return on capital employed (%) | 16.7 | 19.8 | 17.3 |
| EBITDA (in ₹ lakh) | 1,209.70 | 1,167.20 | 792.35 |
| Current Ratio (x) | 1.65 | 1.43 | 1.38 |
Know before investing
Strengths
5-
Balaji Phosphates has a strong market presence across five key states.
-
Strategic factory location in Dewas ensures cost-efficient regional distribution.
-
In-house testing lab maintains high-quality standards for all products.
-
Experienced leadership drives business growth with modern management strategies.
-
Operational capacity utilisation offers expansion potential in key product lines.
Risks
5-
Agricultural sector fluctuations can impact demand, revenue, and overall profitability.
-
Dependence on imported raw materials exposes the company to supply risks.
-
Weather variations and climate change may affect fertilizer demand and sales.
-
Government policy changes or subsidy cuts can impact farmer affordability.
-
Seasonal sales cycles make revenue unpredictable and cash flow uncertain.
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Balaji Phosphates Limited Peer comparison
| Company Name | EPS (Basic) | P/E (x) | RoNW (%) |
|---|---|---|---|
| Balaji Phosphates Limited | 3.39 | - | 17.26 |
| Coromandel International Limited | 55.75 | 30.57 | 18.9 |
| Paradeep Phosphates Limited | 1.22 | 77.23 | 3.28 |
| Rama Phosphates Limited | -17.56 | - | -9.39 |
Balaji Phosphates IPO FAQs
Balaji Phosphates IPO is a book-built issue IPO. It will be open from February 28, 2025, to March 4, 2025.
The Basis of Allotment will happen on Wednesday, Mar 5, 2025.
The IPO subscription window will open on February 28, 2025.
The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 2,000 shares.
The listing date for Balaji Phosphates Limited is Friday, March 7, 2025.
The issue size of the Balaji Phosphates IPO is up to ₹50.11 crore, with a fresh issue of ₹41.58 crore and the remaining ₹8.53 crore for offer for sale.
The open and close dates for Balaji Phosphates IPO are from February 28, 2025, to March 4, 2025.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
- Multiple Submissions: Use different Demat accounts to make multiple applications.
- Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
- Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
To read Balaji Phosphates Limited’s financial statements, download the IPO’s RHP document.
Pre-apply allows investors to apply for the Balaji Phosphates IPO two days before the subscription period opens, ensuring an early submission of your application.
Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours.
You will receive a notification once your order is successfully placed with the exchange after the bidding starts.
Skyline Financial Services Private Limited is the registrar responsible for managing the IPO allotment process and handling investor queries.
Balaji Phosphates IPO is proposed to be listed on the SME platform of the National Stock Exchange (NSE).
