Indian Phosphate IPO share allotment likely to be finalised on August 30: Steps to check status on NSE, Bigshare Services

Indian Phosphate IPO allotment status is expected to be finalised on Friday, August 30, following an overwhelming response from subscribers during the three-day bidding period.

The initial public offering of the chemicals manufacturing company, a book-built issue of ₹67.36 crore, was open for subscription from August 26 to August 29.

Indian Phosphate Limited IPO was entirely a fresh issue of 68.04 lakh shares of a face value of ₹10 each.

Once the company finalises the IPO allotment status, the bidders can check details on the websites of the NSE and Bigshare Service Pvt Ltd. The IPO listing date has been tentatively scheduled as September 3. Shares of Indian Phosphate will be listed on the NSE SME platform.

The bidders, waiting for the share allocation, can check the allotment through the NSE website or the registrar's portal. Bigshare Services Pvt Ltd is the registrar of the IPO.

Steps to check Indian Phosphate IPO allotment status on NSE:

• Open NSE IPO allotment status page at https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Login with username and password
• Select Indian Phosphate Limited from the dropdown menu for issue names
• Verify PAN or bank account details
• Enter application number

Share allocation details will appear on the screen. It’s important to note that the share allotment status can only be checked after the company finalises the allotment.

Steps to check Indian Phosphate IPO allotment status on Bigshare Services portal:

• Visit the Bigshare Services website
• Select any of the server links
• Choose Indian Phosphate Limited from the list for company names
• Select any of these— Application Number/Beneficiary ID/PAN— for the dropdown menu for verification
• Enter the captcha

Indian Phosphate IPO share allocation details can be seen with the number of shares allotted.

Indian Phosphate IPO details

The Indian Phosphate IPO was subscribed more than 265 times. The NSE SME issue received bids for over 119.46 crore shares compared to 45 lakh shares on offer.

The non-institutional investors (NIIs) submitted the highest bids subscribing their portion 440.64 times. The issue was subscribed 238.05 times in the retail category. The Qualified Institutional Buyers (QIBs) portion was booked 181.58 times.

Indian Phosphate IPO price band was set between ₹94 and ₹99 per share. The minimum lot size to bid for the IPO was 1,200 shares for retail investors, amounting to an application size of ₹1,18,800. For High Net-Worth Individuals (HNIs), the minimum investment was 2 lots, or 2,400 shares, aggregating to ₹2,37,600.

Through this IPO, the promoters of Indian Phosphate - Ravindra Singh, Mamta Arora, and Rushil Arora - will dilute their stakes, which currently stand at 100% of the company's shares.

About Indian Phosphate Ltd

Indian Phosphate Ltd, established in 1998, is a manufacturer of Linear Alkyl Benzene Sulfonic Acid (LABSA 90%), an anionic surfactant used in washing powders, toilet cleaners, and liquid detergents. The company also manufactures Single Super Phosphate (SSP) and Granules Single Super Phosphate (GSSP), both fortified with Zinc and Boron, in compliance with Indian Fertilizer Control Regulations.

Its manufacturing facility is located in Udaipur, Rajasthan. Linear alkyl benzene (LAB) is sourced from IOCL, Nirma Ltd, and Reliance Industries Ltd.