Mumbai (Maharashtra) [India], February 25: Balaji Phosphates Limited (Balaji, The Company), manufacturer of Single Super Phosphate, NPK Granulated and Mixed Fertilizers and Zinc Sulphate, proposes to open its Initial Public Offering on Friday, February 28, 2025, aiming to raise ₹ 50.11 Crore (At Upper Price Band), with shares to be listed on the NSE Emerge platform.
The issue size is 71,58,000 equity shares at a face value of ₹ 10 each with a price band of ₹ 66 – ₹ 70 Per Share.
Equity Share Allocation
- QIB Anchor Portion – Not more than 12,24,000 Equity Shares
- Qualified Institutional Buyer – Not more than 8,16,000 Equity Shares
- Non-Institutional Investors –Not less than 20,40,000 Equity Shares
- Retail Individual Investors – Not less than 27,20,000 Equity Shares
- Market Maker – 3,58,000 Equity Shares
The net proceeds from the IPO will be utilized for Capital expenditure for establishment a warehouse at subsidiary’s factory and upgradation of existing facilities, working capital requirements and general corporate purposes. The anchor portion will open on February 27, 2025 and issue will close on March 04, 2025.
The Book Running Lead Manager to the Issue is Arihant Capital Markets Limited, The Registrar to the Issue is Skyline Financial Services Private Limited.
Mr. Mohit Airen, Managing Director of Balaji Phosphates Limited expressed “Our mission is to support and advance Indian agriculture by delivering high-quality phosphate fertilizers that nurture soil health and enhance crop yields. Over the years, we have built a strong network across multiple states, catering to farmers, retailers, wholesalers, and cooperatives with reliability and dedication. Beyond fertilizers, our subsidiary Jyoti Weighing Systems Private Limited is innovating in weighbridge technology, solar frame manufacturing & Weighing in Motion technology, using Swiss plates for superior accuracy, reinforcing our commitment to innovation, sustainability, and long-term growth.
Our IPO represents a significant step forward, enabling us to expand our market presence, optimize productivity, and strengthen our foothold in the fertilizer industry, as well as foster the growth of our subsidiary. The funds raised will further support our expansion, enhance operational efficiency, and drive technological advancements.
This IPO is more than just a financial milestone—it is a step toward sustainable growth, empowering us to drive long-term progress.”
Mr. Ashok Kumar Jain, Managing Director of Arihant Capital Markets Limited said, “We are proud to support Balaji Phosphates Limited as they embark on this significant milestone in their journey. The company has built a strong market presence by delivering high-quality phosphate fertilizers that enhance soil health and improve agricultural productivity.
This IPO will provide Balaji Phosphates with the necessary capital to expand its operations, upgrade its manufacturing facilities, and strengthen its supply chain, ensuring greater efficiency and market reach. Additionally, the planned investments in its subsidiary, Jyoti Weighing Systems Private Limited, will further enhance its role in the industry, supporting long-term business sustainability.
With India’s fertilizer industry experiencing rapid expansion, driven by increasing demand for high-quality soil nutrients and government initiatives supporting agriculture, the company is well-positioned to capitalize on these opportunities. We believe this IPO will enable the company to scale new heights and contribute significantly to the industry and the nation’s agricultural progress.”
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