Zuari Agro Chemicals update on Paradeep Phosphates proposed IPO of Rs 1004 cr

Zuari Agro Chemicals announced that with reference to the proposed initial public offering (IPO) of equity shares of Paradeep Phosphates (PPL and its initial public offering), a subsidiary of the company's joint venture Zuari Maroc Phosphates, the company has been informed by PPL that the Red Herring Prospectus of PPL dated 06 May 2022 was filed with the Registrar of Companies, Odisha at Cuttack, on 07 May 2022.

PPL's IPO Bid/Offer opening will be on 17 May 2022 and Bid/Offer closing will be on 19 May 2022. Further, Anchor Investors shall Bid one Working Day prior to the Bid/Offer Opening Date, i.e., on 13 May 2022.

PPL and the Selling Shareholders (in consultation with the Book Running Lead Managers) have finalized the price band to range from Rs 39 to Rs 42. Additionally, the Bid Lot for the Offer has been finalized to be 350 Equity Shares thereafter. Shares and in multiples of 350 equity shares thereafter.

PPL's proposed IPO comprises of fresh issue aggregating to Rs 1004 crore and an offer for sale of up to 118,507,493 equity shares.

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