Paradeep Phosphates listing: Paradeep Phosphates lists at 4% premium on BSE

New Delhi: Paradeep Phosphates made a positive debut on the Dalal street as the non urea fertilizer manufacturer was listed at Rs 43.55, a premium of 4 per cent over its issue price of Rs 42 on BSE.

On National Stock Exchange (NSE), the counter was listed at a premium of 5 per cent at Rs 44 as against the given issue price.

A day before listing, shares of Paradeep Phosphates were commanding a premium of Rs 0.5 apiece in the grey market, signalling towards the muted listing of the company.

Paradeep Phosphates raised Rs 1,501.73 crore via its primary stake sale, which was open for subscription between May 17-19 as the company sold its shares in the range of Rs 39-42 apiece.

The issue was overall subscribed 1.75 times, with quota for QIB investors getting more than thrice subscription. Retail portion was booked 1.37 times, whereas the HNI portion fetched only 82 per cent bids.

Incorporated in 1981, Paradeep Phosphates is the second-largest private sector manufacturer of non-urea fertilizers and Di-Ammonium Phosphate (DAP) in terms of volume sales for the nine months ended December 31, 2021.

The non-urea fertilizers manufacturer is engaged in manufacturing, trading, distribution and sales of a variety of complex fertilizers, under the brand names Jai Kisaan-Navratna and Navratna.

As of March 31, 2022, it distributed products across 14 states in India. The company’s network includes 4,761 dealers and over 67,150 retailers serving over five million farmers in India.