Balaji Phosphates IPO allotment: How to check status online on Skyline Financial Services, NSE

Balaji Phosphates IPO allotment status: Balaji Phosphates Ltd is likely to announce the IPO share allotment status on Wednesday, March 5, following the successful close of its initial public offerings.

The NSE SME issue was open for subscription from February 28 to March 4. Balaji Phosphates IPO was a book-building issue worth ₹50.11 crore.

On the final day of bidding, the initial public offering of Balaji Phosphates Ltd was subscribed 1.26 times overall. The NSE SME issue received bids for 78.9 lakh shares against 62.28 lakh shares on offer.

The retail portion of the IPO was booked 1.08 times. Retail investors applied for 29.6 lakh shares against 27.2 lakh shares on offer. The Non-Institutional Investors (NIIs) booked their segment 1.51 times with bids for 30.84 lakh shares against 20.4 lakh shares on offer. The Qualified Institutional Buyers (QIBs) category was subscribed 1.26 times with bids for 18.46 lakh against 14.68 lakh shares set aside for the segment.

After the close of the public issue, the company will finalise the share allotment status on Wednesday, March 5. IPO investors can check the allotment status on the websites of NSE and the IPO registrar.

How to check Balaji Phosphates IPO share allotment status on registrar’s website

• Visit the official website of Skyline Financial Services Pvt Ltd (https://www.skylinerta.com)
• Click on Investors and select Public Issues
• Select Balaji Phosphates Ltd from drop-down list (the name will appear after finalisation of share allotment)
• Fill Client ID, Application No or PAN details
• Click on Search

Steps to check allotment status on NSE

• Open NSE allotment page: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Choose Equity & SME IPO bid details
• Select Balaji Phosphates Limited
• Verify PAN details
• Enter IPO application Number
• Click on Submit

Balaji Phosphates Ltd IPO Details

• Balaji Phosphates IPO was a fresh issue of 59.4 lakh shares worth up to ₹41.58 crore and an offer for sale of 12.18 lakh shares worth up to ₹8.53 crore.
• The IPO price was fixed at ₹66 to ₹70 per share.
• The minimum lot size was 2,000 shares, requiring an investment of ₹1,32,000 (₹66 x 2,000) for retail investors.
• The company will start transferring shares to the Demat accounts on March 6 and the refunds will also be issued on the same day.
• Tentative date for listing shares on NSE SME platform is March 7.
• Arihant Capital Markets Ltd is the book-running lead manager; Skyline Financial Services Private Ltd is the IPO registrar.

Balaji Phosphates IPO objective

Balaji Phosphates Ltd. produces and supplies Single Superphosphate (SSP) in powder and granulated forms, NPK Granulated and Mixed Fertilizers, and Zinc Sulphate. The company sells its products under the brand names RATNAM and BPPL.

SSP addresses phosphorus deficiencies, especially in acidic soils, promoting robust root development and seedling establishment.

The company sells products in Madhya Pradesh, Chhattisgarh, Maharashtra, Telangana, and Andhra Pradesh. The company has a production facility at Dewas in Madhya Pradesh. The company has proposed to use ₹12.87 crore of IPO proceeds to fund the capital expenditure towards setting up a warehouse at its subsidiary's factory premise and upgradation of existing facilities. It will use ₹19 crore to fund working capital requirements.

Balaji Phosphates Ltd Financials

The company posted revenue from operations of ₹54.85 crore for the April-August period of FY 2024-25. Its net profit was ₹4.15 crore in the period under review.

In FY 2024, it reported revenue of ₹151.68 crore against ₹144.64 crore in FY 2023. The company’s profit after tax stood at ₹6.04 crore in FY24 against ₹6.09 crore in the preceding financial year.

Balaji Phosphates Ltd key performance indicators (As of March 31, 2024)