Paradeep Phosphates a high-risk bet on rising share of non-urea fertilisers
Business

Paradeep Phosphates a high-risk bet on rising share of non-urea fertilisers

By Dan Neff

At the upper band of the issue price, the stock is valued at 1.10 times its book value as of December 2021 and seven times its annualised earnings of FY22.

Synopsis

Of the total IPO amount, nearly two-thirds are a fresh issue of shares that will be used to part-finance the acquisition of a plant in Goa and repayment of loans, while the balance is an offer of sale (OFS) from the Government of India and promoter Zuari Maroc Phosphate – a joint venture between Zuari Agro Chemicals and the OCP Group of Morocco. The Government of India is selling its entire stake of 19.55% pre-IPO through the OFS.

ET Intelligence Group: Paradeep Phosphates, India’s third-largest private non-urea fertiliser maker, plans to raise ₹1,500 crore in an IPO.

Of the total IPO amount, nearly two-thirds are a fresh issue of shares that will be used to part-finance the acquisition of a plant in Goa and repayment of loans, while the balance is an offer of sale (OFS) from the Government of India and promoter Zuari Maroc Phosphate – a joint venture between Zuari Agro

BY

ET Bureau

4 mins read, Last Updated:

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Dan Neff