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Odishatv Bureau

The initial public offering (IPO) of Paradeep Phosphates opened for subscription on Tuesday (May 17). The subscription for the IPO will remain open till May 19, 2022. 

As per sources, the fertilizer company will be selling its shares in the range of Rs 39-42 apiece. After day one of bidding, the IPO has been subscribed 0.29 times.

The IPO consists of a fresh issue of shares worth Rs 1,501 crore and an offer for the sale of 11.85 crore shares by promoters and shareholders of the company. 

Incorporated in 1981, Paradeep Phosphates Limited (PPL) is a manufacturer of non-urea fertilizers in India. It is the 2nd largest private sector manufacturer of non-urea fertilizers Di-Ammonium Phosphate (DAP) in India. 

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