Paradeep Phosphates IPO: Slow start for issue on opening day; Know the subscription

Paradip Phosphates IPO: Shares of Paradeep Phosphtes Initial Public Offering (IPO) totaled 0.26 times on Tuesday, according to data on the BSE. Information taken as 4:06 pm. Out of the total 26,86,76,858 shares available for subscription, the issue has so far received 7,05,25,700 share bids.

The issue opened today and is open for membership until May 19th.

Retail Private Investors (RIIs) have subscribed 0.52 times Out of the total 13,15,80,187 shares available for this category, the number of share bids received during this period was 6,87,53,650.

As non-institutional investors, the issue was subscribed only 0.03 times when the number of share bids received for Eligible Institutional Buyers (QIB) was 4900.

Price band of Paradeep IPO shares is Rs 39-42.

Lot size is 350 shares with minimum bid amount of 1 lot or 350 shares.

Book Running Lead Manager (BRLM) is Axis Capital Limited, ICICI Securities, JM Financial Limited and SBI Capital Markets Limited.

Paradip Phosphates IPO: Here is the full timeline of the issue:

  1. The issue, which opens today, will close on Thursday, May 19, 2022.
  2. Finalization on the basis of allocation is expected to take place on 25 May.
  3. Refunds are likely to start on May 26.
  4. Transfer and listing of shares in demat account may take place on 27th May.

The timeline is temporary and taken from the Edelweiss app.

Earlier today, G Business Managing Editor Anil Singh recommended investors to invest in this issue. He said it was an “interesting” issue and that it was in the fertilizer space, which invited a lot of interest.

Singhvi said the investment must be made with a long-term outlook and not for short-term or listed gains due to the current mood of the stock market. It is very difficult to predict the market in the current situation, said the managing editor.

He said the ongoing Russia-Ukraine war has only created appreciation for the price of fertilizer, which is a positive for Pardeep, Singvi said.

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