Paradeep Phosphates IPO share allotment status today; Here is how to check online

tech.hindustantimes.com:

Pradeep Phosphates’ initial public offering (IPO) allotment status will likely be announced anytime today on May 24. The fertilizer company’s issue consists of fresh equity shares of ₹1,004 crore, while existing shareholders and promoters offered shares worth ₹497.73 crore. Paradeep Phosphates IPO was subscribed 1.75 times in the three days and raised a total of Rs. 1,512 crore during its subscription between May 17 and May 19. The Government of India has sold its entire stake of 19.55% by offering 11,24,89,000 equity shares. The IPO received subscription of over 47.02 crore (47,02,00,150) shares against the total issue size of over 26.86 crore. Susbcribers would now be eager to know about the Paradeep Phosphates IPO share allotment status declaration. Know how to find out.

The shares allocated for the qualified institutional buyers (QIBs) were booked 3.01 times, while non institutional investors’ portion were subscribed 0.82 times and that of retail individual investors (RIIs) was subscribed 1.37 times, the NSE data showed.

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As per the details mentioned in red herring prospectus (RHP), the company will use the net proceeds from the public offering to be used for part financing of the acquisition of the Goa facility, repayment/prepayment of certain borrowings and for general corporate purposes.

Those who have applied for the Paradeep Phosphates IPO, can check the status of the allotment either on BSE or Link Intime official website after it gets declared.

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1. Visit the BSE website or NSE website here.

2. Select 'Equity' and then choose the issue name 'Paradeep