Fertilizer maker Paradeep Phosphates to launch ₹1,500 cr IPO on 17 May

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Paradeep Phosphates (PPL) is a joint venture between the Government of India and the Zuari Maroc Phosphates Private (ZMPPL), a 50:50 partnership between Maroc Phosphore S.A., Morocco, and Zuari Agro Chemicals. Zuari Board Agro Chemicals (ZACL), Adventz Group’s direct agricultural, has approved the sale of its Goa fertilizer facility and related businesses to Paradeep Phosphates Ltd (PPL) joint venture for a total value of $ 280 million (approximately Rs 2027.46 cr.).

The Indian government owns 19.55% of the shares and 80.45% of the shares held by Zuari Maroc Phosphates’ is mainly focused on the production, marketing, distribution, and marketing of complex fertilizers which are NPK fertilizers and di-ammonium phosphate (DAP). Its fertilizer is sold under products such as’ Jai Kisaan Navratna ‘and’ Navratna’.

The Red Herring Prospectus of Paradeep Phosphates (PPL) dated 6 May 2022 was submitted to the Registrar of Companies, Odisha at Cuttack, on 7 May 2022. Zuari Agro the Chemical Board, in June 2020, approved its ‘policy’ for sale for strategic and financial reasons. The Goa division is responsible for the production, distribution, import, and sale of urea, DAP, and various categories of NPK fertilizers.

The PPL IPO covers a new issue involving Rs 1004 crore and a gift sale of up to 11,85,07,493 shares. Zuari Agro Chemicals is a single-window agricultural solutions provider. Make compost, special fertilizers, organic fertilizers, and micronutrients. The public issue contains a new release of shares worth Rs 1,004 crore while the sale of up to 11.85 crore shares by existing shareholders and developers. As part of OFS, shareholder shareholders – Zuari Maroc Phosphates Pvt Ltd (ZMPPL) will issue 60.18 lakh equity shares and the Government of India will sell up to 11.24 crore shares.

Up to 50 percent of the total offer will be reserved for Qualified Institutional Buyers (QIBs), 15 percent for non-institutional investors (NIIs), and the remaining 35 percent for store investors. The shares would be listed on the Bombay Stock Exchange BSE and the National Stock Exchange (NSE) on May 27, 2022. Axis Capital, ICICI Securities, JM Financial, and SBI Capital Markets are a guide for leading executives in the matter.

Link Intime India Private Ltd will be the registrar for the matter. After being successfully listed in the stock market, Paradeep Phosphates will join the likes of Coromandel International, Chambal Fertilizer Chemicals, and Deepak Fertilizers and Petrochemicals.

The average peer pressure group for the P / E industry stands at 15.73x. The company intends to use the proceeds of the new venture to fund the purchase of the Goa facility and to pay and prepay on some of the loans.

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