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Balaji Phosphates IPO
Price Band
₹66.0–70.0
Issue Size
₹50.11 Cr
Lot Size
2,000 shares
Min Investment
₹140,000
GMP
—
Issue Price
₹70.0
Balaji Phosphates IPO AI Summary
- Balaji Phosphates IPO is listed on NSE SME.
- Price band: ₹66.0–₹70.0 per share, lot size 2,000 shares (min. investment ₹140,000).
- Subscription window: 28 Feb–04 Mar 2025, listing on 07 Mar 2025.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Balaji Phosphates IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 04 Mar 2025 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Balaji Phosphates IPO Grey Market Premium (GMP) Today
GMP not available yet
Grey Market Premium is updated daily. Check back closer to the listing date.
About the Company
Incorporated in 1996, Balaji Phosphates Limited manufactures and supplies Single Super Phosphate (SSP), NPK Granulated and Mixed Fertilizers, and Zinc Sulphate, all compliant with India's Fertilizer Control Order standards. The company markets its products under the brands ‘RATNAM’ and ‘BPPL’ to various customers, including retailers, wholesalers, and cooperatives, with farmers as end users. The product portfolio consists of Phosphate fertilizers like SSP, zinc sulfate, and NPK Mix enhance plant growth in agricultural soils. The company sells its products in regions such as Madhya Pradesh, Chhattisgarh, Maharashtra, Andhra Pradesh and Telangana. The company's manufacturing unit is in Dewas, Madhya Pradesh. As of March 31, 2024, the company's manufacturing unit had capacities of 120,000 MT per year for Single Super Phosphate, 3,300 MT for Zinc Sulphate, and 49,500 MT for NPK Granulated & Mix. As of August 31, 2024, the company employs 40 individuals, including skilled and unskilled labour, administrative staff, management, and operations teams. Competitive Strength Long standing in the fertilizer trade. Wide spread network in regions Madhya Pradesh, Chhattisgarh, Maharashtra, Andhra Pradesh and Telangana. The factory's strategic location in Dewas, Madhya Pradesh, offers a competitive advantage. Long-standing and experienced management team.
Company Financials (₹ Cr)
As of 2024-08-31
| Period Ended | 31 Aug 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 95.28 | 88.48 | 96.83 | 82.35 |
| Total Income | 54.85 | 151.68 | 144.64 | 124.12 |
| Profit After Tax | 4.15 | 6.04 | 6.09 | 3.19 |
| NET Worth | 39.15 | 35.00 | 28.97 | 22.86 |
| Reserves and Surplus | 21.31 | 17.17 | 20.05 | 16.92 |
| Total Borrowing | 35.58 | 33.22 | 26.32 | 19.88 |
Key Ratios
EPS
₹3.39
NAV
₹19.62
ROE
18.89%
ROCE
16.7%
RoNW
17.26%
P/B Value
3.57
P/E Ratio
20.67
Market Cap
₹166.44 Cr
PAT Margin
4.00%
Debt/Equity
0.95
Peer Comparison
| Company | RoNW | EPS Basic | EPS Diluted | P/E (x) |
|---|---|---|---|---|
| Rama Phosphates Ltd. | -9.39% | -17.56 | -17.56 | — |
| Paradeep Phosphates Limited | 3.28% | 1.22 | 1.22 | 77.23 |
| Coromandel International Ltd. | 18.9% | 55.75 | 55.81 | 30.57 |
| Balaji Phosphates Limited This IPO | 17.26% | 3.39 | 3.39 | — |
Promoters
Alok Gupta and Mohit Airen
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 To meet Capital expenditure towards establishing a warehouse at subsidiaries factory premise & upgradation of existing facilities 12.88 2 To meet the working capital requirements 19.00 3 General Corporate Purposes 4.69 4 Issue expenses 5.01 Total 41.58
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹124.12 Cr in the year ending 31 Mar 2022, rising to ₹144.64 Cr by 31 Mar 2023, and further increasing to ₹151.68 Cr by 31 Mar 2024. However, for the most recent period ending 31 Aug 2024, total income decreased to ₹54.85 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit After Tax was ₹3.19 Cr in the year ending 31 Mar 2022, increasing to ₹6.09 Cr by 31 Mar 2023, and slightly decreasing to ₹6.04 Cr by 31 Mar 2024. In the most recent period ending 31 Aug 2024, Profit After Tax was ₹4.15 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Valuation
At the issue price of ₹70.0, Balaji Phosphates has an implied P/E ratio of 20.67, compared to peers trading at P/E ratios ranging from 30.57 to 77.23.
Grey Market Premium, Explained
The grey market refers to the unofficial trading of shares before they are listed on the stock exchange. The Grey Market Premium (GMP) indicates the expected listing price of an IPO based on demand and supply in this unofficial market. A higher GMP suggests strong demand, while a lower or negative GMP may indicate weaker demand.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. It's essential to consider the company's fundamentals and market conditions.
Who May Want to Wait
Investors who prefer stable returns and are risk-averse may want to avoid IPOs in sectors with high volatility or uncertain growth prospects.
IPO Timeline, Explained
The IPO process includes several key dates: the issue opens on 28 February 2025 and closes on 4 March 2025. Allotment of shares will be done on 5 March 2025, with the listing date set for 7 March 2025.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make when shares of an IPO are listed on the stock exchange. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and the company's performance post-listing. Investors should be aware of the risks involved in trading on listing day.
This evaluation is generated from Balaji Phosphates's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is the price band of Balaji Phosphates IPO?
The price band of Balaji Phosphates IPO is ₹66.0–₹70.0 per share.
When does Balaji Phosphates IPO open and close?
Balaji Phosphates IPO opens on 28 February 2025 and closes on 04 March 2025.
When does Balaji Phosphates IPO list on the stock exchange?
Balaji Phosphates IPO listed on 07 March 2025 at ₹70.0.
What is the lot size for Balaji Phosphates IPO?
The lot size for Balaji Phosphates IPO is 2000 shares, requiring a minimum investment of ₹140,000.
What is the price band for the IPO?
The price band for the IPO is ₹66.0 to ₹70.0.
What is the minimum investment required?
The minimum investment required is ₹140,000.
What is the lot size for the IPO?
The lot size for the IPO is 2000 shares.
When does the IPO open and close?
The IPO opens on 28 February 2025 and closes on 4 March 2025.
When will the shares be listed?
The shares are expected to be listed on 7 March 2025.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
28 Feb 2025
Close
04 Mar 2025
Allotment
05 Mar 2025
Listing
07 Mar 2025
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