The Balaji Phosphates IPO is scheduled to start on February 28, 2025, and remains open for subscription until March 4, 2025. This Book Built Issue IPO consists of a fresh issue of 59.40 lakh shares and an Offer for Sale (OFS) of 12.18 lakh equity shares, with a face value of ₹10 per share.
The Balaji Phosphates IPO price band is yet to be announced. The IPO allocation includes 40% for retail investors, 30% for QIBs, and 30% for HNIs. The allotment finalizes on March 5, 2025, and the stock lists on the NSE SME platform on March 7, 2025.
Financially, the company reports a revenue of ₹151.68 crores in 2024, up from ₹144.64 crores in 2023, while its net profit stands at ₹6.04 crores in 2024, slightly lower than ₹6.09 crores in 2023. With a total issue size of 71.58 lakh shares, the IPO offers an opportunity for long-term investors, given the company’s stable financials and growth potential in the phosphate industry.
Overview of Contents
About Balaji Phosphates IPO
Established in 1996, Balaji Phosphates Limited is a prominent manufacturer and supplier of Single Super Phosphate (SSP), NPK Granulated & Mixed Fertilizers, and Zinc Sulphate, catering to the agricultural sector with high-quality fertilizers that comply with India’s Fertilizer Control Order standards.
Operating under the brands ‘RATNAM’ and ‘BPPL’, the company serves a diverse customer base, including retailers, wholesalers, and state cooperatives, ensuring that farmers receive essential nutrients for crop growth. With a strategically located manufacturing facility in Dewas, Madhya Pradesh, the company benefits from a strong distribution network across Madhya Pradesh, Chhattisgarh, Maharashtra, Andhra Pradesh, and Telangana. The state-of-the-art production unit spans 12,600 square meters, boasting an annual installed capacity of 1,20,000 MT for SSP, 3,300 MT for Zinc Sulphate, and 49,500 MT for NPK fertilizers.
Balaji Phosphates sources Crushed Rock Phosphate (CRP) from global suppliers in Jordan, Morocco, Egypt, and the Gulf region, while Beneficiated Rock Phosphate (BRP) is locally procured. The company also operates a subsidiary, Jyoti Weighing Systems Pvt Ltd (JWSPL), which manufactures weighbridges with capacities up to 633 MT, further diversifying its industrial capabilities. With a seasoned management team, an extensive market presence, and a commitment to quality, Balaji Phosphates continues to strengthen its position as a trusted name in India’s fertilizer industry.
Balaji Phosphates IPO Overview
| IPO Details | Balaji Phosphates IPO |
|---|---|
| IPO Open Date | February 28, 2025 |
| IPO Close Date | March 4, 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹[.] to ₹[.] per share |
| Total Issue Size | 71,58,000 shares (aggregating up to ₹[.] Cr) |
| Fresh Issue | 59,40,000 shares (aggregating up to ₹[.] Cr) |
| Offer for Sale (OFS) | 12,18,000 shares (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Market Maker Portion | 3,58,000 shares |
| Listing Exchange | NSE SME |
| Retail Quota | Not more than 40% |
| QIB Quota | Not more than 30% |
| NII Quota | Not more than 30% |
| Pre-Issue Shareholding | 1,78,37,100 shares |
| Post-Issue Shareholding | 2,37,77,100 shares |
Balaji Phosphates IPO Prospectus
| DRHP | Click here |
| RHP | Click here |
Balaji Phosphates IPO Market Lot
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | – | ₹- |
| Retail Maximum | 1 | – | ₹- |
| S-HNI Minimum | 2 | – | ₹- |
Balaji Phosphates IPO Dates
| IPO Opening Date | Friday, February 28, 2025 |
| IPO Closing Date | Tuesday, March 4, 2025 |
| UPI Mandate Deadline | 5 PM on March 4, 2025 |
| Basis of Allotment Finalization | Wednesday, March 5, 2025 |
| Refund Process Initiation | Thursday, March 6, 2025 |
| Shares Credited to Demat | Thursday, March 6, 2025 |
| Expected Listing Date | Friday, March 7, 2025 |
Objects of the Issue
- To meet the capital expenditure requirements;
- To meet the working capital requirements; and
- General corporate purposes;
Balaji Phosphates IPO Company Financial Performance
| Period Ended | Revenue | Expense | Profit After Tax | Assets |
|---|---|---|---|---|
| 2022 | ₹124.12 | ₹119.56 | ₹3.19 | ₹82.35 |
| 2023 | ₹144.64 | ₹136.37 | ₹6.09 | ₹96.83 |
| 2024 | ₹151.68 | ₹143.31 | ₹6.04 | ₹88.48 |
| August 2024 | ₹54.85 | ₹49.42 | ₹4.15 | ₹95.28 |
Balaji Phosphates IPO Valuation – FY2024
| Metric | Value |
|---|---|
| Return on Equity (ROE) | 18.89% |
| Return on Capital (ROCE) | 16.7% |
| EBITDA Profit Margin | 8.0% |
| Net Profit Margin (PAT) | 4.0% |
| Debt-to-Equity Ratio | 0.95 |
| Earnings Per Share (EPS) | ₹3.39 (Basic) |
| Price-to-Earnings (P/E) | N/A |
| Return on Net Worth (RoNW) | 17.26% |
| Net Asset Value Per Share | ₹19.62 |
Balaji Phosphates IPO Review
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Peer Group Comparison
| Company Name | Revenue (₹ Cr.) | Earnings Per Share (EPS) | Price-to-Earnings (P/E) Ratio | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|---|---|
| Coromandel International Ltd | 22,289.75 | 55.81 | 29.49 | 17.88% | N/A |
| Paradeep Phosphate Ltd | 11,643.95 | 1.22 | 67.63 | 2.73% | N/A |
| Rama Phosphate Ltd | 604.18 | (17.56) | N/A | (9.39%) | N/A |
Balaji Phosphates IPO Promoter Holding
The company is led by its promoters, Mr. Alok Gupta and Mr. Mohit Airen, who have played a key role in its growth.
| Details | Percentage |
|---|---|
| Pre-IPO Holding | 100% |
| Post-IPO Holding | 69.90% |
Balaji Phosphates IPO Registrar
Ankit Consultancy Private Limited
Phone: + 91 9752344442
E-mail: compliance@ankitonline.com
Website: https://ankitonline.com/
IPO Lead Managers aka Merchant Bankers
- Arihant Capital Markets Limited
Company Address
Balaji Phosphates Limited
305, Utsav Avenue, 12/5, Usha Ganj Jaora Compound,
Indore G.P.O., Indore (Madhya Pradesh)- 452001
Phone: +919827090267
Email: infous@balajiphosphates.com
Website: www.balajiphosphates.com
Balaji Phosphates IPO FAQs
When does the Balaji Phosphates IPO open and close?
The IPO opens on February 28, 2025, and closes on March 4, 2025.
What is the listing date for Balaji Phosphates IPO?
The tentative listing date is March 7, 2025, on NSE SME.
What is the issue price for the IPO?
The price band for the IPO is yet to be disclosed.
What is the lot size for the IPO?
The minimum lot size will be announced before the IPO launch.
What is the total issue size of the IPO?
The IPO consists of 71,58,000 shares, including a Fresh Issue of 59,40,000 shares and an Offer for Sale of 12,18,000 shares.
When will IPO allotment be finalized?
The allotment is expected to be finalized on March 5, 2025.
When will refunds be initiated for non-allottees?
Refunds will be initiated on March 6, 2025.
When will shares be credited to the Demat accounts?
Shares will be credited on March 6, 2025.
What is the cut-off time for UPI mandate confirmation?
The cut-off time is 5 PM on March 4, 2025.