Paradeep Phosphates Limited Initial Public Offering To Open On May 17, 2022

 

Mumbai: "Paradeep Phosphates Limited" (The “Company”) to open its Initial Public Offering (the “Offer”) on May 17, 2022. The Anchor Investor Bid/Offer Period is one Working Day before Bid/Offer Opening Date, that is, May 13, 2022.

The Price Band of the Offer has been fixed at ₹39 per Equity Share to ₹ 42 per Equity Share of the face of ₹ 10 each. Bids can be made for a minimum of 350 Equity Shares and in multiples of 350 Equity Shares thereafter.

The Issue offer comprises (i) a fresh issue of equity shares face value of ₹ 10 each share aggregating to ₹10,040 million (The “Fresh Issue”) and (ii) an Offer for Sale up to 118,507,493 equity shares by Promoter Selling Shareholders and GoI Selling Shareholder (The “Offer for Sale”).

The Company intends to utilize net proceeds from the fresh issue towards (i) Part-financing the acquisition of the Goa Facility; (ii) Repayment/prepayment of certain of our borrowings; and (iii) General corporate purposes.

The offer for sale comprises up to 6,018,493 equity shares by ZuariMaroc Phosphates Private Limited and up to 112,489,000 equity shares by The President of India, acting through the Ministry of Chemicals and Fertilizers, Government of India. (The “Promoter Selling Shareholders” and GoI Selling Shareholder).

The Equity Shares offered in this Offer are proposed to be listed on both BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”, together with BSE, the “Stock Exchanges”).

Axis Capital Limited, ICICI Securities Limited, JM Financial Limited, and SBI Capital Markets Limited are the Book Running Lead Managers for the Offer.