Paradeep Phosphates IPO share allotment likely today: Here’s how to check your status online

The shares which are to be allocated for the qualified institutional buyers (QIBs) was subscribed 3.01 times, while those of non institutional investors was subscribed 0.82 times and that of retail individual investors (RIIs) was subscribed 1.37 times, the data showed.

The IPO comprises a fresh issue of shares worth Rs 1,004 crore and an offer-for-sale (OFS) of 11.85 crore equity shares by promoters and other selling shareholders.

As part of the OFS, Zuari Maroc Phosphates Pvt Ltd (ZMPPL) will offload 60,18,493 equity shares and the government of India will sell up to 11,24,89,000 equity shares. The government will be offloading its entire 19.55 per cent stake in the company.

The net proceeds from the fresh issue will be used for part financing of the acquisition of the Goa facility, repayment/prepayment of certain borrowings and for general corporate purposes, according to the details given in the red herring prospectus (RHP).

Paradeep Phosphates is primarily engaged in manufacturing, trading, distribution and sales of a variety of complex fertilizers such as Di-Ammonium Phosphate (DAP) and NPK fertilizers. Its fertilizers are marketed under some of the key brand names in the market – ‘Jai Kisaan – Navratna’ and ‘Navratna’.

Investors are now looking forward to the share allotment date of the Paradeep Phosphates IPO. The company is supposed to finalise the allotment by Tuesday, May 24, 2022, as per the timeline provided in the RHP. In case you have applied for the Paradeep Phosphates IPO, then here is how you can check the status of your allotment when it gets declared:

The allotment status will get updated on the website of the registrar of the IPO, which in this case is Link Intime India (Click here: https://linkintime.co.in/MIPO/Ipoallotment.html). Applicants will need to select Paradeep Phosphates Limited – IPO in the drop-down menu and enter either their PAN, application number or DP Client ID. and click on search to view their allotment status.

Apart from the registrar’s website, applicants can also check the status of their allotment on the website of the BSE (Click here: https://www.bseindia.com/investors/appli_check.aspx). Here, they will need to select Equity in Issue Type, then select PARADEEP PHOSPHATES LIMITED from the drop-down list in the Issue Name section, enter their Application Number or PAN Number in the respective box. Then they have to check on the ‘I am not a robot’ box and then click on search to view their status.

The listing of shares of Paradeep Phosphates is likely to take place on Friday, May 27, 2022, on both the NSE and BSE.

Axis Capital, ICICI Securities, JM Financial and SBI Capital Markets are the book running lead managers to the IPO.