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IPO Watch: Paradip Phosphate IPO will open on May 17, government will sell its entire stake – News

Paradip Phosphate IPO: Fertilizer company Paradip Phosphates Limited will come out with its initial public offering (IPO) on May 17. For this, the price band has been fixed at Rs 39-42 per share. Through the IPO, the government will sell its entire 19.55 percent stake in the company. The IPO will close on May 19.

Know more about IPO
According to the IPO documents, anchor investors will be able to bid for the shares on May 13. The IPO will involve issue of fresh shares worth Rs 1,004 crore and offer for sale of 11.85 crore equity shares from promoters and other shareholders.

corporate planning
The company plans to raise around Rs 1502 crore on the upper price band. The company plans to list on May 27.

Know other details of offer for sale
The Offer for Sale of Paradip Phosphates Limited includes 6.02 million shares of Zuari Agro Chemicals and OCP Group SA’s Joymat Venture Zuari Maroc Phosphates Private Limited (ZMPPL), up to 112.49 million shares held by the Govt. ZMPPL holds 80.45 per cent stake, while the government holds about 19.55 per cent stake in the company.

LIC’s IPO will also be listed on May 17
The share listing of Life Insurance Corporation ie LIC’s IPO is also going to happen on May 17 itself. There was a lot of interest from investors about this biggest IPO of the country and retail and policyholder investors showed good subscription in it. Before the listing on May 17, however, its premium in the gray market has come down, due to which it is feared that the listing of LIC shares may not fall below the issue price.

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