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Paradeep Phosphates IPO Guidance : Paradeep Guidance

Paradeep Phosphates Grey Market News Today #
On 26.05.2022
Grey Market Premium Rs. 0.20
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Paradeep Phosphates IPO Subscription Trend
On 19.05.2022 @ 5.00 pm
QIB : 80705162 Sh : 3.01 T
NII : 563,91,509 Sh : 0.82 T
RII : 13,15,80,187 Sh : 1.37 T
Tot: 26,86,76,858 Sh : 1.75 T

Paradeep Phosphates Company Details
Paradeep Phosphates is the third largest private sector manufacturer of non-urea fertilizers in India and second largest in terms of Di-Ammonium Phosphate volume sales as of March 2021 . It is primarily engaged in manufacturing, trading, distribution and sales of a variety of complex fertilizers such as DAP, three grades of NPK, Zypmite, Phosphogypsum and Hydroflorosilicic Acid . It is also engaged in the trading, distribution and sales of Muriate of Potash (“MOP”), Ammonia, Speciality Plant Nutrients (“SPN”) and City compost. Its fertilizers are marketed under some of the key brand names in the market ‘Jai Kisaan – Navratna’ and ‘Navratna’.

The Company was incorporated in 1981. Zuari Maroc Phosphates Private Limited , a joint venture
of Zuari Agro Chemicals Limited and OCP Group S.A. (“OCP”), currently holds 80.45% of the equity
share capital of the Company, with the balance being held by the Government of India.
It is part of the Adventz Group, as well as OCP. The founding chairman of the Adventz Group was the late Dr. K.K. Birla and the current chairman is Mr. Saroj Kumar Poddar. The Adventz Group operates in several businesses and has a strong presence in the agribusiness, engineering and infrastructure businesses and emerging lifestyle business.

OCP, founded in 1920, with revenues of over US$6.3 billion in 2020, is one of the leading producers of Phosphate rock globally and operates largely in the Morocco and Western Sahara region which has approximately 70% of the global Phosphate rock reserves, and is owned 95% by the Moroccan government. Phosphate rock is processed to produce phosphorous, which is one of the three main nutrients most commonly used in fertilizers .
Its manufacturing facility is located in Paradeep, Odisha and includes a DAP and NPK production facility, a Sulphuric acid production plant and a Phosphoric acid production plant. . It believes that its integrated business model has been critical to its success and a differentiating factor from our competitors. For more information, click www.paradeepphosphates.com

The Promoters of Paradeep Phosphates
Zuari Maroc Phosphates Pvt ltd, Zuari Agro Chemicals ltd, OCP S.A & The President of India acting through the Department of Fertilizers, Ministry of Chemicals & Fertilisers, Govt of India.
* While the GoI is one of the Promoters of our Company and will continue to be so until completion of the Offer; please note that the GoI is proposing to sell its entire shareholding in the Company.

Paradeep Phosphates IPO Main Objects
The Offer comprises of the Fresh Issue and Offer for Sale.
The Company proposes to utilise the Net Proceeds towards Part-financing the acquisition of the Goa Facility & Repayment/prepayment of certain of its borrowings

Paradeep Phosphates IPO Details
IPO opens on 17 May , 2022
IPO closes on 19 May ,2022
Issue Type: Book Built Issue IPO
Issue : up to 35,75,54,762 Shares /Rs 1501.73 Crore
* Fresh Issue of 23,90,47,269 Sh/ Rs.1004.00 Cr
* Offer for Sale Up to 11,85,07,493 Sh/ Rs. 497.73Cr

Face Value per share : Rs. 10

Paradeep Phosphates IPO Price Band Per Equity Share: Rs. 39 to 42
Paradeep Phosphates IPO Retail Lot Size 350 Shares
Paradeep Phosphates Listing will at BSE,NSE

Shares offered to
QIB (50%) 1787,77,381 Shares = Rs 750.87 Cr
NII (15%) 53633214 Shares = Rs 225.26 Crs
RII (35%) 12,51,44,167 Shares = Rs 525.60 Crs
Lot size: 350 Shares = 357554 Forms
Min Retail Application : 350 Sh , Rs. 14,700
Max Retail Application : 4550 Sh, Rs 191,100

Paradeep Phosphates IPO Tentative timeTable
Paradeep Phosphates IPO Allotment on 24 May 2022
Unblocking of ASBA 25 May 2022
Credit to Demat Accounts 26 May 2022
Paradeep Phosphates IPO Listing on 27 May 2022

Paradeep Phosphates IPO Financial & Analytical Ratios
Earnings per Share 2019-20 Rs 3.36
Earnings per Share 2020-21,Rs 3.88
Earnings per Share 2021-22 9M Rs 6.30
Annualised EPS Estimated @ Rs. 8.40
Book Value of the Share as on 31.12.2021 Rs 38.04
Return on Net Worth: 19-20 12.05 %
Return on Net Worth: 20-21: 12.22 %
Return on Net Worth: 20-21 9M :16.57 %

Equity Shares prior to the IPO : 575,450,000 Shares

Ratio Analysis
Upper Price Band/Annualised Estimated  EPS: 5
Upper offer price/Book Value Ratio : 1.10
Upper offer price/BV after IPO Ratio:

Paradeep Phosphates IPO Peer Comparison:
Coromandel International @ PE Multiple of 18.72
Chambal Fertilizers @ PE Multiple of 11.57
Deepak Fertilizers @ PE Multiple of 16.91

Paradeep Phosphates IPO Lead Managers 
Axis Capital,ICICI Securities, JM Financial ,SBI Capital Markets
Registrar to Paradeep Phosphates y IPO
Linkintime India pvt ltd.

Registered Office of Paradeep Phosphates
5 th Floor, Orissa State Handloom Weavers’ Co-Op Building, Pandit J.N Marg, Bhubaneswar 751 001,
Company Secretary & Compliance Officer : Sachin Patil

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