IPO Details
Bidding Dates
26 Aug '24 - 29 Aug '24
Minimum Investment
₹118,800 / 1 Lot (1,200 Shares)
Price Range
₹94 - ₹99
Maximum Investment
₹118,800 / 1 Lot (1,200 Shares)
Retail Discount
To be announced
Issue Size
₹67.36 Cr
Investor category and sub category
Retail Individual Investors (RII) | Non-institutional Investors (NII) | Qualified Institutional Buyers (QIB) | Eligible employees |IPO Dates
Important dates with respect to IPO allotment and listing
Opening Date
Aug 26, 2024
Closing Date
Aug 29, 2024
Basis of Allotment
Aug 30, 2024
Initiation of Refunds
Sep 2, 2024
Listing Date
Sep 3, 2024
Cut-off time for UPI mandate confirmation
Aug 29, 2024
About Indian Phosphate Limited
Indian Phosphate Limited, established in 1998, is a leading manufacturer of Linear Alkyl Benzene Sulfonic Acid (LABSA 90%), an anionic surfactant widely used in the production of washing powders, cakes, toilet cleaners, and liquid detergents.
In addition to LABSA, the company produces “Single Super Phosphate” (SSP) and “Granules Single Super Phosphate” (GSSP), essential fertilisers that comply with the fertiliser Control Regulation of India. These fertilisers are available in both powder and granule forms and are fortified with essential micronutrients like Zinc and Boron.
The company's state-of-the-art manufacturing facility is strategically located in the Girwa district of Udaipur, Rajasthan. This location offers proximity to key raw materials, including sulphuric acid (98%) and rock phosphate, essential for the production process.
Indian Phosphate Limited sources linear alkyl benzene (LAB) from prominent suppliers such as IOCL, Vadodara, Nirma Ltd, Vadodara, and Reliance Industries Ltd, Patalganga, ensuring a steady supply chain.
With a robust presence across major Indian states, including Punjab, Bihar, Gujarat, Haryana, Madhya Pradesh, Maharashtra, Rajasthan, Uttar Pradesh, Himachal Pradesh, West Bengal, and Uttarakhand, Indian Phosphate Limited is well-positioned in the market. As of March 31, 2024, the company employs a dedicated workforce of 105 employees committed to maintaining high production and service standards.
Industry Outlook:
- India's agriculture sector grew at an average annual rate of 4.6% over the last six years, with food grain production reaching a record 315.72 million tonnes in 2022.
- India produces 75% of its Urea, 40% of DAP, and 85% of NPKS domestically, with the remainder imported to meet the country's fertiliser demand.
Indian Phosphate IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- For Setting up a new manufacturing facility at SIPCOT Industrial Park Phase-I, Kudikadu Village, Cuddalore District ('C' District) Plot(s) - Plot No.C-17/A, TamilNadu for manufacturing of Sulphuric Acid, LABSA 90%, and Magnesium Sulphate
- To Meet Working Capital Requirements.
- For General Corporate Purposes.
Peer Details
The only listed company considered by Indian Phosphate Limited as its peers is Rama Phosphates Limited.
How to Check the Allotment Status of the Indian Phosphate Limited 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.
Contact Details of Indian Phosphate Limited IPO
- Registered office: Plot 638, Sector-11, Udaipur City, Girwa, Rajasthan- 313001, India
- Phone: 0294-2946959
- E-mail: investor@indianphosphate.com
IPO Financials
| Particulars | For the period ended October 30, 2023 | Year ending on March 31, 2023 | Year ending on March 31, 2022 | Year ending on March 31, 2021 |
|---|---|---|---|---|
| Revenue from Operation (in ₹ lakh) | 40,871.70 | 76,869.36 | 55,715.20 | 41,452.22 |
| Profit After Tax (PAT) (in ₹ lakh) | 908.81 | 1659.53 | 1616.61 | 509.44 |
| Current Ratio (x) | 1.53 | 1.43 | 1.66 | 2.18 |
| Net Worth (in ₹ lakh) | 7,660.61 | 6,751.80 | 5,092.27 | 3,475.66 |
| Total Borrowings (in ₹ lakh) | 3374.56 | 1535.48 | 1830.58 | 434.04 |
| Return on Equity (%) | 12.61% | 28.02% | 37.74% | 15.82% |
| Return on Capital Employed (RoCE) (%) | 12.40% | 31.00% | 42.08% | 19.65% |
| EPS (in ₹) | 5.00 | 9.13 | 8.89 | 2.80 |
Know before investing
Strengths
6-
Over 30 years of experience in cost-efficient manufacturing and marketing.
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Strategic location enables efficient North, Northwest, and Central Indian market access.
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NABL-approved laboratory ensures high product quality standards.
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Experienced promoters with 30+ years in the fertiliser and chemical industries.
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Ongoing backward integration into Sulphuric Acid production in Tamil Nadu.
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Plans to expand geographically into Tamil Nadu and Maharashtra markets.
Risks
6-
Corporate guarantee of ₹10,500 Lakhs may impact financial stability.
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Dependence on top 10 customers; 92.35% sales concentration risk.
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Contingent liabilities of ₹11,461.16 Lakhs could affect cash flow.
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Litigation risks may adversely impact operations and reputation.
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Lack of long-term raw material contracts may disrupt production.
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Negative cash flow from operations reported; financial stability uncertain.
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Indian Phosphate IPO FAQs
Indian Phosphate IPO is a book built IPO. The IPO will be open from August 26, 2024, to August 29, 2024.
The Basis of Allotment will happen on Friday, August 30, 2024.
The IPO subscription window will open on August 26, 2024.
The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 1,200 shares.
The listing date for Indian Phosphate is Tuesday, September 3, 2024.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approve the payment mandate.
You can submit only one application using your PAN card.
