Balaji Phosphates shares list at 7% premium, outperform IPO GMP estimate

Balaji Phosphates IPO listing: Shares of manufacturer and supplier of fertilisers Balaji Phosphates made a positive debut on the D-Street on Friday, March 7, 2025, following the completion of its initial public offering (IPO). Balaji Phosphates shares listed at Rs 75 per share on the NSE SME, reflecting a premium of Rs 5 or 7.14 over the issue price of Rs 70 apiece.

 

Balaji Phosphates IPO listing has also outperformed the grey market estimates. Ahead of the listing, the company's shares were quoted at Rs 70 apiece, indicating a flat debut, according to sources tracking unofficial market activities.

 

Balaji Phosphates IPO details

 

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The SME offering comprises a fresh issue of 5.94 million equity shares and an offer for sale (OFS) of 1.21 million equity shares. It was available at a price band of Rs 66-70 per share with a lot size of 2,000 shares.

 

Balaji Phosphates IPO, which opened for public subscription on Friday, February 28, 2025, ended up being oversubscribed by 1.21 times by Tuesday, March 4, 2025.

 

As outlined in the Red Herring Prospectus (RHP), the company will not receive the proceeds from the offer for sale. However, the company will use the proceeds from the fresh issue to meet capital expenditure requirements, working capital needs, and general corporate purposes.

 

Skyline Financial Services served as the registrar for the public offering of Balaji Phosphates, while Arihant Capital Markets acted as the sole book-running lead manager.

 

About Balaji Phosphates

Balaji Phosphates is a manufacturer and supplier of fertilizers, including Single Super Phosphate, NPK Granulated, and Zinc Sulphate. The company markets its products under the 'RATNAM' and 'BPPL' brands. Its products are sold in regions such as Madhya Pradesh, Chhattisgarh, and Maharashtra. The company's manufacturing unit is located in Dewas, Madhya Pradesh. As of March 31, 2024, the unit had a production capacity of 120,000 MT per year for Single Super Phosphate.