Paradeep Phosphates IPO Share Allotment: Check allotment date, online status, more

tech.hindustantimes.com:

Paradeep Phosphates IPO Share Allotment: The Rs. 1,500-crore initial public offering (IPO) of Paradeep Phosphates managed to garner 1.75 times subscription on the last day of bidding on Thursday, May 19. Paradeep Phosphates Limited is the second-largest manufacturer of non-urea fertilizers in India. Paradeep Phosphate's IPO raised Rs. 1,004 crore of fresh capital. The price band for the Paradeep Phosphates was fixed at Rs. 39-42 per share.

According to NSE data, the IPO received bids for 47,02,00,150 shares against the 26,86,76,858 shares on offer. Qualified institutional buyers received 3.01 times the amount allocated to them, retail individual investors 1.37 times, and non-institutional investors 82 percent. A fresh issue of up to Rs. 1,004 crore and an offer for sale of up to 11,85,07,493 equity shares were part of the initial public offering (IPO). The offer is managed by JM Financial, SBI Capital Markets, ICICI Securities, and Axis Capital.

After the three-day bidding of Paradeep Phosphates starting on May 17 which ended on May 19. The bidders and investors can check the allotment status of the Pradeep Phosphates IPO most probably by May 24, 2022, which is the expected date for the basis of allotment. While the initiation of refunds is scheduled for May 25. The credit of shares by Demat is expected on May 26.

After the announcement of Paramdeep Phosphates IPO share allotment, the bidders can check the status online via the BSE website on May 24. Here’s how to check the Paradeep Phosphates IPO share allotment status.