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Paradeep Phosphates IPO: Slow start for issue on opening day; know subscription status, full timeline from allotment date, listing, more
Paradeep Phosphates IPO: Paradeep Phosphtes Initial Public Offering (IPO) shares were subscribed overall 0.26 times on Tuesday as per the data available on the BSE. The data was taken as of 4:06 pm. Out of the total 26,86,76,858 shares available for subscription, the issue received 7,05,25,700 share bids
Paradeep Phosphates IPO: Paradeep Phosphtes Initial Public Offering (IPO) shares were subscribed overall 0.26 times on Tuesday as per the data available on the BSE. The data was taken as of 4:06 pm. Out of the total 26,86,76,858 shares available for subscription, the issue received 7,05,25,700 share bids, till this time.
The issue opened today and is open for subscription till 19 May.
The Retail Individual Investors (RIIs) subscribed 0.52 times. The number of share bids received by this time was 6,87,53,650 out of the total quota of 13,15,80,187 shares available for this category.
As for Non-Institutional Investors, the issue was subscribed only 0.03 times while the number of share bids received for the Qualified Institutional Buyers (QIBs) stood at 4900.
The price band of Paradeep IPO share is at Rs 39-42.
The lot size is 350 shares with minimum bid quantity at 1 lot or 350 shares.
The Book Running Lead Managers (BRLM) are Axis Capital Limited, ICICI Securities, JM Financial Limited and SBI Capital Markets Limited.
Paradeep Phosphates IPO: Here is the complete timeline for the issue:
- The issue which opened today will close on 19 May 2022, Thursday.
- Finalisation on the basis of allotment is expected to take place on 25 May.
- Initiation of refunds likely to begin on 26 May.
- Transfer of shares to demat accounts and listing likely to happen on 27 May.
The timeline is tentative and has been sourced from Edelweiss app.
Earlier today, Zee Business Managing Editor Anil Singhvi had recommended investors to invest in this issue. He said that this is an “interesting” issue and is in the fertiliser space, which invites a lot of interest.
Singhvi said that investment must be made with a long term view and not for short term or listing gains because of the current mood of the stock markets. It is very difficult to predict the markets under current circumstances, the Managing Editor opined.
He said that the ongoing Russia-Ukraine war has only created appreciation in fertliser prices, which is a positive for Paradeep, Singhvi said.
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