Balaji Phosphates IPO Closed
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Schedule of Balaji Phosphates
| Issue open date | 28 Feb 2025 |
| Issue close date | 04 Mar 2025 |
| UPI mandate deadline | 04 Mar 2025 (5 PM) |
| Allotment finalization | 05 Mar 2025 |
| Refund initiation | 06 Mar 2025 |
| Share credit | 06 Mar 2025 |
| Listing date | 07 Mar 2025 |
| Mandate end date | 19 Mar 2025 |
| Lock-in end date for anchor investors (50%) | 03 Apr 2025 |
| Lock-in end date for anchor investors (remaining) | 02 Jun 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Balaji Phosphates
Incorporated in 1996, Balaji Phosphates Limited manufactures and supplies Single Super Phosphate (SSP), NPK Granulated and Mixed Fertilizers, and Zinc Sulphate, in compliance with India’s Fertilizer Control Order standards. The company markets its products under the ‘RATNAM’ and ‘BPPL’ brands to retailers, wholesalers, cooperatives, and farmers. Its manufacturing unit is located in Dewas, Madhya Pradesh, with capacities for producing SSP, Zinc Sulphate, and NPK Granulated & Mix fertilizers. The company serves regions including Madhya Pradesh, Chhattisgarh, Maharashtra, Telangana, and Andhra Pradesh.
Financials of Balaji Phosphates
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹50.11 crores |
| Fresh Issue | ₹41.58 crores |
| Offer for sale | ₹8.53 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| To meet the Capital expenditure | 12.88 (31.00%) |
| Funding working capital requirements | 19.00 (45.67%) |
| General corporate purposes | 9.70 (23.33%) |
*All figures are in ₹ Crores.
Strengths
- Experience in the fertilizer industry with established manufacturing capabilities and dealer relationships.
- Presence in Madhya Pradesh, Chhattisgarh, Maharashtra, Andhra Pradesh, and Telangana.
- Factory located in Dewas, Madhya Pradesh, reducing freight costs and improving efficiency.
- Management team with experience in business management and industry knowledge.
- In-house testing laboratory for ensuring product quality and compliance with standards.
Risks
- Dependence on imported Rock Phosphate and Sulfuric Acid poses supply chain and cost risks.
- Business depends on agricultural sector performance influenced by crop prices, climate, and water supply.
- Competitive pressures in the fertilizer industry may affect market share and profitability.
- The stability of the distribution network and dealer expansion is critical for business growth.
- Regulatory approvals are required for operations, with risks of non-compliance.
- Proceeds from the Offer for Sale will go to Selling Shareholders, not the Company.
- Loss of key customers could significantly impact revenue and financial performance.
Allotment Status for Balaji Phosphates
To check your allotment status – click here.
Subscription Figures for Balaji Phosphates
Subscription numbers as of 5:00 PM on 28 Feb 2025:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| Institutional | 14.68 | – | – |
| HNI (₹2L+) | 20.40 | 5.48 | 0.27x |
| Retail (upto ₹2L) | 27.20 | 5.74 | 0.21x |
| Total | 62.28 | 11.22 | 0.18x |