New Delhi: Paradeep Phosphates IPO received a 51 per cent subscription till the second day of subscription on Wednesday, May 18, 2022. So far, the IPO has received bids for 13,63,79,600 shares against 26,86,76,858 shares on offer, according to the latest NSE data. The company has set the price range for the offer at Rs 39-42 per share. The firm, on Friday last week, had raised a little over Rs 450 crore from anchor investors ahead of the initial public offer. Investors planning to invest in the offer should check the Paradeep Phosphates IPO’s latest GMP, expected listing price, and subscription status.
Paradeep Phosphates IPO Subscription Status
Paradeep Phosphates IPO has been subscribed 51% so far. The portion for retail individual investors got 95 per cent subscriptions while the quota for non-institutional investors got 20 per cent subscriptions.
Paradeep Phosphates IPO GMP
The grey market premium (GMP) for Paradeep Phosphates IPO shares stood at Rs 3 on May 18, according to market observers. The Paradeep Phosphates IPO GMP had stood at Rs 3 too on May 17 as well.
Paradeep Phosphates IPO Expected Listing Price
Paradeep Phosphates IPO GMP today is Rs 3. If the GMP doesn’t change in the coming days, the offers shares could list at Rs 45, according to market observers. Also Read: After SBI, HDFC, Axis Bank hikes lending rates by 35 basis points; car, home loan EMIs set to increase
Paradeep Phosphates IPO Details
Paradeep Phosphates IPO consists of a fresh issue aggregating up to Rs 1,004 crore and an Offer For Sale (OFS) of up to 11,85,07,493 equity shares. Under the OFS, Zuari Maroc Phosphates Pvt Ltd (ZMPPL) will sell 60,18,493 equity shares while the government of India will offload up to 11,24,89,000 equity shares. The Indian government will be selling its entire 19.55 per cent stake in the firm. Also Read: Pakistan bans import of luxury cars, cosmetics, other items to mitigate financial crisis: Report