InvestorQ : Can you tell me about the proposed IPO of Paradeep Phosphates and when is it likely to hit the markets?
Dilmini Mercia made post

Can you tell me about the proposed IPO of Paradeep Phosphates and when is it likely to hit the markets?

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Dawn Cherian answered.
3 months ago
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Paradeep Phosphates has been accorded the SEBI approval for its proposed IPO. The SEBI approval has come in and the next step is to file the RHP with the ROC after taking care of the SEBI observations. The Rs.1,255 crore OFS will entail the issue of 1200.36 lakh shares by the promoters. Zuari will offer 75.47 lakh shares in the OFS and government of India will offer 1,124.89 lakh shares in the offer for sale.

Currently, Zuari Maroc holds the majority 80.45% stake in Paradeep Phosphates while the government of India holds a minority 19.55% stake. The company may also plan a small fresh issue to fund its debt repayment plans. Paradeep Phosphates is into the manufacture of complex fertilizers such as DAP and NPK fertilizers. These fertilizers are marketed under the “Jai Kisaan” and “Navratna” brands and have a good brand standing in the market.

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