Indian Phosphate Ltd IPO Timeline

Indian Phosphate Ltd IPO opens on 26-Aug-2024, and closes on 29-Aug-2024. The Indian Phosphate Ltd IPO bid date is from 26-Aug-2024 to 29-Aug-2024. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Indian Phosphate Ltd IPO Opening Date 26-Aug-2024
Indian Phosphate Ltd IPO Closing Date 29-Aug-2024
Basis of Allotment 30-Aug-2024
Initiation of Refunds 02-Sep-2024
Credit of Shares to Demat 02-Sep-2024
Indian Phosphate Ltd IPO Listing Date 03-Sep-2024

Indian Phosphate Ltd IPO Lot Size

Indian Phosphate Ltd IPO lot size is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or 118800).

Application Lots Shares Amount
Minimum 1 1200 ₹118800
Maximum 1 1200 ₹118800

Indian Phosphate Ltd IPO Details

Indian Phosphate Ltd IPO Date 26-Aug-2024 to 29-Aug-2024
Indian Phosphate Ltd IPO Face Value Shares of ₹10 per share
Indian Phosphate Ltd IPO Price ₹94 to ₹99 per share
Indian Phosphate Ltd IPO Lot Size 1200
Issue Size Shares of ₹10 (aggregating up to ₹67.36 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹67.36 Cr)
Offer for Sale -
Issue Type Book Building - SME
Listing At NSE - SME
QIB Shares Offered -
Retail Shares Offered -
NII (HNI) Shares Offered -
Company Promoters Ravindra Singh, Mamta Arora, Rushil Arora.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 Setting up a new facility at SIPCOT Industrial Park Phase-I Village Kudikadu
  • 2 To meet working capital requirements
  • 3 General corporate purposes

Company Financials

Indian Phosphate Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2024 163.42 706.26 13.47
03-2023 174.07 770.93 16.60
03-2022 108.02 558.39 16.18
Amount in ₹ Crore
  • Cost Effective sourcing and Strategic Location of Manufacturing Unit.
  • Quality assurance.
  • Leveraging the expertise of its Promoters and Management Team.
  • Forward integration and Diversification.
  • The company has extended Corporate Guarantee on behalf of one of its Group Companies.
  • The Company is dependent on few numbers of customers for sales. Loss of any of this large customer may affect its revenues and profitability.
  • The company has certain contingent liabilities, which, if they materialize, may affect its results of operations, financial condition, and cash flows.
  • The company have certain outstanding litigation against the Company, an adverse outcome of which may adversely affect its business, reputation and results of operations.
  • Its business is operating under various laws which require it to obtain approvals from the concerned statutory/regulatory authorities in the ordinary course of business and its inability to obtain, maintain or renew requisite statutory and regulatory permits and approvals for its business operations could materially and adversely affect its business, prospects, results of operations and financial condition.
  • The company derives 78.66%, 67.96% and 62.29% of its revenue from operation from one customer during the fiscal ending on March 31, 2024, 2023 and 2022. If such customer choose not to source their requirement from it, the company's business, financial condition and result of operation may be adversely affected.
  • The company does not have long-term agreements with suppliers for its raw materials and an increase in the cost of, or a shortfall in the availability or quality of such raw materials could have an adverse effect on its business and results of operations.
  • The company does not own its Registered Office and Production Unit. A failure to renew the company existing lease arrangements at commercially favourable terms or at all may have a material adverse effect on its business, financial condition, and results of operations.
  • Its Restated Financial Statements are prepared and signed by the Peer Review Auditor who is not Statutory Auditors of the Company as required under the provisions of ICDR.
  • Out of total cost of Plant & Machinery worth Rs. 2817.40 lakhs, the company has not yet placed order for any of such Plant & Machinery.
  • If the company is unable to obtain or maintain regulatory approvals for its products, the company may be unable to sell such products, which could adversely affect its business and results of operations.
  • The Company had negative cash flow from operating activity in recent fiscals, details of which are given below. Sustained negative cash flow could adversely impact its business, financial condition, and results of operations.
  • The Company requires significant amounts of working capital for continued growth. Its inability to meet the company working capital requirements may have an adverse effect on the results of operations.
  • One of the business verticals of its business is Fertiliser & the same is dependent on the performance of the agricultural sector in which its fertilizers are used. Any developments affecting the performance of the agricultural sector are likely to affect its business, results of operations and financial condition.
  • The fertilizer Industry in India operates within a regulatory framework. Any shifts in governmental policies related to the agricultural sector or a decrease in the subsidies and incentives extended to farmers have the potential to negatively impact its business and financial performance.
  • The company may not be successful in implementing its growth strategies, particularly in setting up of a new manufacturing unit to expand its current production capabilities as well as expanding its current product portfolio including, Sulphuric Acid, Linear Alkyl Benzene Sulphonic Acid (LABSA) and Magnesium Sulphate, which could have an adverse effect on its business, financial condition, cash flows and results of operations.
  • Presently, the company has only manufacturing facility in Umarda in Udaipur. Unplanned slowdowns or shutdowns in its manufacturing facility or underutilization of the company manufacturing capacities could have an adverse effect on its business, results of operations and financial condition.
  • The company has historically derived a significant portion of its revenues from operations from a limited number of states and any adverse developments in these states could adversely affect its business.
  • One of its subsidiary company namely Udaipur Poly Sacks Limited which is in the same line of business i.e. fertilizer as one of the vertical of the Company.
  • The company has incurred indebtedness which exposes it to various risks which may have an adverse effect on its business and the results of operations.
  • Failure to successfully implement its business strategies may materially and adversely affect the company's business, prospects, financial condition and results of operations.
  • The improper handling, transportation, processing or storage of raw materials or products, along with spoilage or damage to these materials, as well as the possibility of actual or perceived contamination in its products, may expose it to regulatory and legal consequences. Such incidents have the potential to harm its reputation and negatively impact its business, operational results, and financial condition.
  • The company is dependent on third party transportation and logistics service providers. Any increase in the charges of these entities or unavailability of transportation services for its products or transportation strikes could adversely affect its business, results of operations and financial conditions.
  • The Company is in use of trademark, which is under "Objected" Status under the Trademarks Act, 1999 as on date of Draft Red Herring Prospectus. Thus, its may be subject to claims alleging breach of third-party intellectual property rights.
  • Any failure on its part to effectively manage the company inventory may result in an adverse effect on its business, revenue from manufacturing operations and financial condition.
  • Non availability or shortage of electricity, fuel, or water could negatively impact its manufacturing operations, potentially causing adverse effects on its business, operational outcomes, and financial status.
  • The Company in the past has entered into Related Party Transactions and may continue to do so in future also, which may affect its competitive edge and better bargaining power if entered with non-related parties resulting into relatively more favourable terms and conditions and better margins.
  • Resistance from farmers to crop protection chemicals and the inappropriate application of its products from farmers may adversely affect the company business, financial condition and results of operations.
  • Its business is dependent and will continue to depend on the company manufacturing facilities, and the company is subject to certain risks in its manufacturing process such as the breakdown or failure of equipment, industrial accidents, severe weather conditions and natural disasters.
  • Its business is subject to seasonal and is cyclical in nature. Seasonal variations and unfavourable local and global weather patterns may have an adverse effect on its business, results of operations and financial condition.
  • There are certain delay and discrepancies noticed in its statutory records and/or records relating to filing of returns and statutory expenses with the concerned Registrar of Companies.
  • Some of its corporate records are not traceable. Non availability of such records may result in regulatory actions against the Company by regulatory or statutory authorities, which may an adverse impact on its financial condition and reputation.
  • Non-availability/Absence of some historical record including forms filed with Registrar of Companies.
  • Reliance has been placed on declarations and affidavits furnished by certain of its promoters and director for details of their profiles included in this Draft Red Herring Prospectus.
  • Its lenders have charge over the company movable and immovable properties in respect of finance availed by it.
  • Its Promoter and members of Promoter Group have provided their personal guarantees to certain loan facilities availed by it, which if revoked may require alternative guarantees, repayment of amounts due or termination of the facilities.
  • Its success depends largely on the skill, experience and continued efforts of the company Key managerial personnel & senior management personnel, skilled professionals and unskilled workers and its ability to attract and retain skilled and unskilled personnel.
  • The company operates in a highly competitive environment, and any failure to compete effectively may have adverse effects on its business, prospects, financial condition, and operational results.
  • The company is subject to risks associated with expansion into new geographic regions.
  • Its ability to pay dividends in the future may be affected by any material adverse effect on its future earnings, financial condition or cash flows.
  • In addition to normal remuneration, other benefits, and reimbursement of expenses to its Promoter, Directors, Key Managerial Personnel and Senior Managerial Personnel; they are interested to the extent of their shareholding and dividend entitlement thereon in the Company and for the transactions entered into between the Company and themselves as well as between the Company and its Group Companies/Entities. The Company in future may enter in related party transactions subject to necessary compliances.
  • The average cost of acquisition of Equity shares by its Promoter is lower than the Issue price.
  • Its Promoter and members of the Promoter Group will continue jointly to retain majority control over the Company after the Issue, which will allow them to determine the outcome of matters submitted to shareholders for approval.
  • There is no monitoring agency appointed by the Company to monitor the utilization of the Issue proceeds.
  • Within the parameters as mentioned in the chapter titled "Objects of this Issue" of this Draft Red Herring Prospectus, the Company's management will have flexibility in applying the proceeds of this Issue. The fund requirement and deployment mentioned in the Objects of this Issue have not been appraised by any bank or financial institution.
  • In the event there is any delay in the completion of the Issue, or delay in schedule of implementation, there would be a corresponding delay in the completion of the objects of this Issue which would in turn affect its revenues and results of operations.
  • The company has not identified any alternate source of raising the funds required for the object of the Issue and the deployment of funds is entirely at its discretion and as per the details mentioned in the section titled "Objects of the Issue".
  • Any future issuance of Equity Shares may dilute your shareholdings, and sale of the Equity Shares by its major shareholders may adversely affect the trading price of its Equity Shares.
  • If the company fail to convert existing customers into repeat customers or to acquire new customers, its business, financial condition, and results of operations would be harmed.
  • Certain data mentioned in this Draft Red Herring Prospectus has not been independently verified.
  • The company has encountered challenges in meeting the designated timelines for filing statutory returns, a circumstance that carries significant implications for its financial standing.
  • Optimal Utilization of Resources.
  • Backward integration and Diversification.
  • To build-up a professional team for future expansion coming up in the next five years.
  • Broaden and Deepen its Geographical Presence.

Indian Phosphate Ltd IPO Promoter Holding

Pre Issue Share Holding 94.47%
Post Issue Share Holding 68.74%

Indian Phosphate Ltd IPO Subscription Status (Bidding Detail)

The Indian Phosphate Ltd IPO is subscribed 260.2311 times on Aug 29, 2024 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) - - - - 260.2311

Indian Phosphate Ltd IPO Prospectus

Indian Phosphate Ltd IPO Listing Date

Listing Date 03 Sep 24
BSE Script 81373
NSE Symbol IPHL
Listing In NSE - SME
ISIN INE0DHF01018
IPO Price ₹99
Face Value ₹10

Indian Phosphate Ltd IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91 22-62638200,
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com

Indian Phosphate Ltd IPO Lead Manager(s)

  1. Beeline Capital Advisors Pvt Ltd

FAQs on Indian Phosphate Ltd IPO

Indian Phosphate Ltd IPO, which opens for subscription from 26-Aug-2024 to 29-Aug-2024 has an issue size of ₹67.36 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Indian Phosphate Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

Indian Phosphate Ltd IPO Opens for subscription from 26-Aug-2024 to 29-Aug-2024.

The lot size of Indian Phosphate Ltd is 1200 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹118800 and ₹118800 respectively.

Allotment date for Indian Phosphate Ltd is 30-Aug-2024 and refund of application amount (in case allotment is not received) will begin from 02-Sep-2024. If your allotment goes through, then shares will be credited in your Demat account by 02-Sep-2024.

The registrar for Indian Phosphate Ltd IPO is Bigshare Services Pvt Ltd . You can check your IPO allotment status on the registrar's website.

The shares of Indian Phosphate Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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