Udaipur : Indian Phosphate Limited is coming out with its Initial public Offering (IPO) priced at Rs. 94 to Rs. 99 per share equity share and opening on August 26 and closing on August 29, 2024.
Of the fresh issue worth Rs. 67.30 crores, Rs. 33.18 crores will be used for setting up a new facility at SIPCOT INDUSTRIAL PARK, Tamil Nadu for manufacturing LABSA 90 %, Sulphuric Acid and Magnesium Sulphate, while Rs. 24. 90 crores will be used to meet working capital requirements and for general corporate purposes.
Indian Phosphate Limited was incorporated in 1998 and has presently acquired 1,00,000 Sq. mts. Land on lease from MIDC Dhule, Maharashtra to manufacture Single Super Phosphate Fertilizer, Di-Calcium Phosphate, Surphuric Acid, Oleum 65% and Organic Fertilizers.
The Company has employed state-of-the-art manufacturing process and control technology in their Chemical and Fertilizer plant. Current production capacity of LABSA 90% (Linear Alkylbenzene Sulphonic Acid) stands at B350 MT day and that of SSP – 400 MT/day.
The Company supplies LABSA 90% directly to their B2B customers at their various production sites.
Revenue from operations for FY24 stood at Rs. 704.17 crores, FY23 Rs. 768.69 crores and FY22 Rs. 557.15 crores, while Profit After Tax in FY24 was Rs. 13.47 crores, FY23 Rs. 16.59 crore and FY22 Rs 16.16 crore.
Beeline Capital Advisors Private Limited is the sole book running lead manager and Bigshare Services Private Limited is the Registrar to the issue. The equity shares are proposed to be listed on NSE.
