Balaji Phosphates IPO listing: Balaji Phosphates, a leading manufacturer and supplier of fertilizers, had a successful listing on the NSE SME on 7 March 2025. The company’s shares debuted at ₹75 per share, reflecting a 7.14% premium over the issue price of ₹70.
The IPO performance exceeded grey market expectations, as unofficial sources had anticipated a flat listing at ₹70. The IPO comprised a fresh issue of 5.94 million shares and an offer for sale of 1.21 million shares, with a price band of ₹66-70 per share and a lot size of 2,000 shares.
| Listing Date | 07 Mar |
| Issue Price | ₹70 |
| Listing Price | ₹75 |
| Listing Gains | 7.14% |
Balaji Phosphates IPO Overall Subscription
The ₹50.11 crore IPO, open from February 28 to 4 March 2025, comprised a fresh issue of 59.40 lakh shares (₹41.58 crore) and an offer for sale of 12.18 lakh shares (₹8.53 crore). The issue received 1.21x subscription, with retail investors subscribing 1.09x, non-institutional investors 1.34x, and QIBs 1.26x.
| Retail | 1.09 x |
| Non-Institutional investors | 1.34 x |
| Qualified Institutional Buyers (QIB) | 1.26 x |
Company Financial Report
In FY 2024, the company reported ₹15,154.63 lakh revenue, ₹1,209.70 lakh EBITDA, and ₹604.05 lakh PAT. For the five-month period ending August 2024, it posted ₹5,337.06 lakh revenue and ₹414.65 lakh PAT, showcasing strong growth potential.
About Balaji Phosphates 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.
Further, all their products comply with the regulations specified by the Fertilizer Control Order of India. As of 31 March 2024, the plant had an annual production capacity of 1,20,000 MT for SSP, 3,300 MT for Zinc Sulphate, and 49,500 MT for NPK Granulated & Mixed Fertilizers. Financially, it’s revenue was 151.55 cr in FY 2024 which was higher than the last two years.
Arihant Capital Markets Ltd is the book-running lead manager, with Skyline Financial Services Private Ltd as the registrar. Nnm Securities Private Limited is the market maker. Investors can refer to the Balaji Phosphates IPO RHP for complete details.
Disclaimer: Investing in SME IPOs involves a high degree of risk. Such investments may be suitable only for investors with a high-risk tolerance and the ability to bear potential losses. Perform thorough due diligence and consult a financial advisor before investing. Invest wisely and at your own discretion.
