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Indian Phosphate IPO
Price Band
₹94.0–99.0
Issue Size
₹67.36 Cr
Lot Size
1,200 shares
Min Investment
₹118,800
GMP
+₹125.0 (126.26%)
Issue Price
₹99.0
Subject to Sauda
₹114000
Paid only if allotted
Indian Phosphate IPO AI Summary
- Indian Phosphate IPO is listed on NSE SME in the Specialty Chemicals sector.
- Price band: ₹94.0–₹99.0 per share, lot size 1,200 shares (min. investment ₹118,800).
- Subscription window: 26 Aug–29 Aug 2024, listing on 03 Sep 2024.
- Current GMP is +₹125.0 (126.26%), an estimated listing price of ₹224 — unofficial and can change daily.
Indian Phosphate Limited is set to launch its IPO with an issue price of ₹99.0, targeting a total size of ₹67.36 Cr. The company has shown fluctuating revenues and profits in recent years, and the proceeds from the IPO will be utilized for expanding manufacturing capabilities and meeting working capital needs.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Indian Phosphate IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 29 Aug 2024 — 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
Indian Phosphate IPO Grey Market Premium (GMP) Today
GMP
+₹125.0
GMP %
+126.26%
Est. Listing
₹224.0
Updated: 25 Jul 2026 14:04
About the Company
Indian Phosphate Limited, established in 1998, produces Linear Alkyl Benzene Sulfonic Acid LABSA 90%, commonly known as LABSA, an anionic surfactant used in the formulation of all types of washing powders, cakes, toilet cleaners, and liquid detergents. The company also manufactures “Single Super Phosphate” (SSP) and “Granules Single Super Phosphate” (GSSP) which are manufactured and supplied in powder and granule form as per the norms of the Fertilizer Control Regulation of India and are fortified with Zinc and Boron. The Company's manufacturing facility is located in Girwa district, Udaipur, Rajasthan, close to the two raw materials (a) sulphuric acid 98% and (b) rock phosphate used in the manufacture of the products. The other important raw material, linear alkyl benzene (LAB), is sourced from IOCL, Vadodara, Nirma Ltd, Vadodara and Reliance Industries Ltd, Patalganga. Indian Phosphate Limited has a presence in major states like Punjab, Bihar, Gujarat, Haryana, Madhya Pradesh, Maharashtra, Rajasthan, Uttar Pradesh, Himachal Pradesh, West Bengal, and Uttarakhand. As of March 31, 2024, the company had 105 employees.
Company Financials (₹ Cr)
As of 2024-03-31
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 255.19 | 174.07 | 107.90 | 63.14 |
| Total Income | 717.58 | 770.93 | 558.39 | 415.02 |
| Profit After Tax | 12.10 | 16.60 | 16.17 | 5.09 |
| NET Worth | 80.99 | 67.52 | 50.92 | 34.76 |
| Reserves and Surplus | 62.81 | 64.80 | 48.21 | 32.04 |
| Total Borrowing | 40.23 | 15.35 | 18.31 | 4.34 |
Key Ratios
EPS
₹6.65
NAV
₹44.54
ROE
18.14%
ROCE
20.93%
RoNW
16.63%
P/B Value
2.23
P/E Ratio
14.88
Market Cap
₹247.40 Cr
PAT Margin
1.91%
Debt/Equity
0.50
Peer Comparison
| Company | NAV | RoNW | EPS Basic |
|---|---|---|---|
| Rama Phosphates Ltd. | 199.41 | -8.81% | -17.56 |
| Indian Phosphate Limited This IPO | 44.34 | 15.01% | 6.65 |
Promoters
Ravindra Singh, Mamta Arora and Rushil Arora
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 For Setting up a new manufacturing facility at SIPCOT Industrial Park Phase-I, Kudikadu Village, Cuddalore District ('C' District) Plot(s) - Plot No.C-17/A, TamilNadu for manufacturing of Sulphuric Acid, LABSA 90%, and Magnesium Sulphate 33.18 2 To Meet Working Capital Requirements. 24.90 3 For General Corporate Purposes 0.78
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹558.39 Cr in the year ended 31 Mar 2022, rising to ₹770.93 Cr by 31 Mar 2023, before decreasing to ₹717.58 Cr in the year ended 31 Mar 2024. This indicates a fluctuation in revenue over the periods analyzed.
Profit Trend
Profit After Tax was ₹16.17 Cr in the year ended 31 Mar 2022, increasing to ₹16.60 Cr by 31 Mar 2023, before dropping to ₹12.10 Cr in the year ended 31 Mar 2024. This shows a decline in profit in the most recent period.
Valuation
The company's EPS is ₹6.65, which implies a P/E ratio of 14.88. This is compared to peers, which include Rama Phosphates Ltd. with a negative EPS and RoNW of -8.81%.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected premium at which the shares may list on the stock exchange compared to the issue price. A positive GMP suggests that investors expect the stock to list at a higher price than the issue price.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against the company's fundamentals and market conditions. It's essential to consider the company's growth prospects and financial health.
Who May Want to Wait
Investors who are risk-averse or those who prefer stable returns may want to avoid IPOs like this, especially if they are concerned about fluctuations in the company's revenue and profit figures.
IPO Timeline, Explained
The IPO opens for subscription on August 26, 2024, and closes on August 29, 2024. Allotment of shares is expected on August 30, 2024, with the listing date set for September 3, 2024.
Listing Gains — The Risk
Listing gains can be unpredictable and are influenced by market conditions, investor sentiment, and the company's performance post-IPO. Investors should be aware that while listing gains are possible, they are not guaranteed.
This evaluation is generated from Indian Phosphate'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 Indian Phosphate IPO GMP today?
Indian Phosphate IPO GMP today is +₹125.0 (126.26%), indicating an estimated listing price of ₹224. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Indian Phosphate IPO?
The price band of Indian Phosphate IPO is ₹94.0–₹99.0 per share.
When does Indian Phosphate IPO open and close?
Indian Phosphate IPO opens on 26 August 2024 and closes on 29 August 2024.
When does Indian Phosphate IPO list on the stock exchange?
Indian Phosphate IPO listed on 03 September 2024 at ₹224.0.
What is the lot size for Indian Phosphate IPO?
The lot size for Indian Phosphate IPO is 1200 shares, requiring a minimum investment of ₹118,800.
What is the price band for the IPO?
The price band for the IPO is ₹94.0 to ₹99.0.
What is the minimum investment required?
The minimum investment required is ₹118,800, which corresponds to a lot size of 1200 shares.
What is the expected listing date?
The expected listing date for the shares is September 3, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium at which the shares may list compared to the issue price.
Who is the lead manager for this IPO?
The lead manager for this IPO is Beeline Capital Advisors Pvt. Ltd.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
26 Aug 2024
Close
29 Aug 2024
Allotment
30 Aug 2024
Listing
03 Sep 2024
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