Balaji Phosphates IPO opens for subscription. Check price band, GMP and other details

Synopsis

Balaji Phosphates' Rs 50 crore SME IPO will open for public bidding on Friday. The IPO price is set between Rs 66-70 per share, with reservations for institutional, retail, and non-institutional investors. The funds will be used for capital expenditure, working capital, and corporate purposes.

The Rs 50 crore SME IPO of Balaji Phosphates will open for public bidding on Friday. Unlike most other SME offers, the issue includes a fresh equity of 59.4 lakh shares and an offer for sale (OFS) of 12.18 lakh shares.

In the IPO, the company has reserved 30% for institutional investors, 40% for retail investors. The rest of 30% is kept aside for non-institutional investors, who in the recent past emerged as the strongest pillar for the IPOs in the SME segment.

What is the price band of Balaji Phosphates IPO?

Balaji Phosphates has priced the IPO in the range of Rs 66-70 per share, where investors can bid for 2,000 shares in one lot. If they wish to get more shares, bids should be made in multiple lots.

Check Balaji Phosphates IPO GMP

Ahead of the issue opening, the company had no GMP in the unlisted market. A GMP is widely tracked by investors to gauge the demand for the IPO and thereby knowing whether it will deliver any value on listing.

It is not necessary that GMP should be the only indicator to track while investing in IPOs. Instead, investors can also look for fundamentals of the company, its future growth prospects and other business strategies.

All details about Balaji Phosphates IPO

Balaji Phosphates is bringing its IPO to investors to meet certain requirements of the company including capital expenditure, working capital and other general corporate purposes.

The company will finalise the share allotment process for the IPO on March 5 and the listing date will be on March 7. The shares will debut on the NSE SME platform.

Balaji Phosphates overview

The company is engaged in the production of NPK Granulated and Mixed Fertilizers, as well as Zinc Sulfate (21%). It focuses on
manufacturing phosphate fertilizers, offering a diverse range of products including Single Super Phosphate (SSP) in both powder
and granulated forms.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

...moreless

...moreless