Allotment

Balaji Phosphates IPO is a book-built issue aggregating to ₹50.11 crore, comprising a fresh issue of 0.59 crore equity shares amounting to ₹41.58 crore and an offer for sale of 0.12 crore shares totaling ₹8.53 crore.
The IPO opened for subscription on February 28, 2025, and closed on March 4, 2025. The basis of allotment was finalized on March 5, 2025, and the shares were listed on the NSE SME platform on March 7, 2025.
The price band was fixed at ₹70 per share. The lot size for application was 2,000 shares, requiring a minimum investment of ₹1,40,000 for retail investors at the upper end of the price band. For HNI investors, the minimum application size was two lots (4,000 shares), amounting to ₹2,80,000.
Arihant Capital Markets Ltd. acted as the Book Running Lead Manager, Skyline Financial Services Pvt. Ltd. served as the Registrar to the Issue, and NNM Securities Pvt. Ltd. was appointed as the Market Maker.
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| IPO Date | 7 Mar |
| IPO Listing Date | 7 Mar |
| IPO Face Value | ₹10 per share |
| IPO Price Range | ₹70.00 |
| IPO Issue Size | 71,58,000 shares |
| IPO Sale Type | Fresh Capital & OFS |
| Employee Discount | - |
| IPO Issue Type | Bookbuilding IPO |
| IPO Listing | NSE SME Platform |
| Share Holding Pre Issue | 1,78,37,100 shares |
| IPO Open Date | 28 Feb |
| IPO Close Date | 4 Mar |
| IPO Allotment (Tentative) | 5 Mar |
| Refunds | 6 Mar |
| Credit to Demat Account | 6 Mar |
| IPO Listing Date | 7 Mar |
| Category | Offer |
|---|---|
| QIB Shares Offered | 20,40,000 Shares |
| NII (HNI) Shares Offered | 20,40,000 (28.50%) Shares |
| Retail Shares Offered | 27,20,000 Shares |
Investors can apply for a minimum of 2,000 shares, and bids must be made in multiples of 2,000 shares.
| Application | Lots | Share | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,40,000 |
| Retail (Max) | 1 | 2,000 | ₹1,40,000 |
| S-HNI (Min) | 2 | 4,000 | ₹2,80,000 |
| S-HNI (Max) | - | - | - |
| B-HNI (Min) | - | - | - |
Incorporated in 1996, Balaji Phosphates Limited is engaged in the manufacture and supply of agricultural fertilizers, including Single Super Phosphate (SSP), NPK Granulated and Mixed Fertilizers, and Zinc Sulphate, all of which comply with India’s Fertilizer Control Order (FCO) standards.
The company markets its products under the ‘RATNAM’ and ‘BPPL’ brand names, catering to a wide customer base that includes retailers, wholesalers, and cooperatives, with farmers as the end users.
Its product portfolio primarily consists of phosphate-based fertilizers such as SSP, zinc sulphate, and NPK mixes, which are designed to enhance soil fertility and promote healthy plant growth.
Balaji Phosphates sells its products across multiple states, including Madhya Pradesh, Chhattisgarh, Maharashtra, Andhra Pradesh, and Telangana.
The company operates a manufacturing facility located in Dewas, Madhya Pradesh. As of March 31, 2024, the plant had an installed capacity of 120,000 metric tonnes per annum (MTPA) for Single Super Phosphate, 3,300 MTPA for Zinc Sulphate, and 49,500 MTPA for NPK Granulated and Mixed Fertilizers.
As of August 31, 2024, the company employed 40 personnel, comprising skilled and unskilled workers, administrative staff, management, and operations teams.
Competitive Strengths
Long-standing presence in the fertilizer industry
Well-established distribution network across Madhya Pradesh, Chhattisgarh, Maharashtra, Andhra Pradesh, and Telangana
Strategically located manufacturing facility in Dewas, Madhya Pradesh, providing logistical advantages
Experienced and stable management team with deep industry expertise
| Assets | 95.28 | 88.48 | 96.83 |
| Total Income | 54.85 | 151.68 | 144.64 |
| Profit After Tax | 4.15 | 6.04 | 6.09 |
| EBITDA | - | - | - |
| NET Worth | 39.15 | 35 | 28.97 |
| Reserves and Surplus | 21.31 | 17.17 | 20.05 |
| Total Borrowing | 35.58 | 33.22 | 26.32 |
| ROE | 18.89% |
| ROCE | 16.70% |
| Debt/Equity | 0.95 |
| RoNW | 17.26% |
| PAT Margin | 4.00% |
| EBITDA Margin | - |
| Price to Book Value | 3.57 |
IPO Objects of the Issue
| S.No. | Objects of the ipo Resources Detail | IPO Amount |
|---|---|---|
| 1 | Funding capital expenditure requirements for the purchase of equipment/machineries | - |
| 2 | To meet out the expenses of Working Capital Requirement | 19 |
| 3 | To meet out the General Corporate Purposes; | 4.69 |
| 4 | Offer for Sale (OFS) | - |
Balaji Phosphates Ltd. Address
305, Utsav Avenue, 12/5
Usha Ganj Jaora Compound,
Indore G.P.O.
Indore, Madhya Pradesh, 452001
+919827090267
balajiphosphate@gmail.com
https://www.balajiphosphates.com/2
IPO Registrar
Skyline Financial Services Pvt.Ltd.
02228511022
ipo@skylinerta.com
https://www.skylinerta.com/ipo.php