Balaji Phosphates came to market through an SME IPO that opened on 28 February 2025 and closed on 4 March 2025, and the shares listed on 7 March 2025 on NSE SME. The price band was ₹66 to ₹70 per share and one lot was 2000 shares, so the minimum application was ₹1,40,000. The issue size was ₹50.11 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.
Skyline Financial Services Private Ltd was the registrar to the issue, and Arihant Capital Markets Ltd was the lead manager.
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Balaji Phosphates Limited was incorporated in 1996 and manufactures SSP, NPK Granulated and Mixed Fertilizers, and Zinc Sulphate conforming to Indian standards as laid down in the Fertilizer Control Order. The company sells products under two brands, namely RATNAM and BPPL, to retail and wholesale dealers, cooperatives, with the farmers being the end-users. The products manufactured promote plant growth in agricultural soils, including Phosphate fertilizers: SSP, zinc sulfate, and NPK Mix.
The company sells its products in Madhya Pradesh, Chhattisgarh, Maharashtra, Andhra Pradesh, and Telangana. The company has its manufacturing unit located in Dewas, Madhya Pradesh An operational capacity of its manufacturing unit is; Single Super Phosphate-120,000 MT/year, Zinc Sulphate-3,300 MT/year, NPK Granulated & Mix-49,500 MT/year as on March 31, 2024. As of August 31, 2024, the company has a total staff strength of 40, which includes skilled and unskilled laborers, administrators, managers, and operation teams.
As described in the offer document.
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Mr. Alok Gupta, Mr. Mohit Airen. Promoter holding 100% before the issue and 69.90% after.
Work out the listing gain for this SME IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Balaji Phosphates IPO was a ₹50.11 crore book-built issue, comprising a fresh issue of ₹41.58 crore and an offer for sale of ₹8.53 crore. It was priced at ₹66–₹70 per share with a lot size of 2,000 shares (₹1,40,000). The IPO was open from February 28 to March 4, 2025. Shares listed on NSE SME on March 7, 2025 at ₹75, a 7.1% premium to the issue price of ₹70. Skyline Financial Services Private Ltd is the registrar.
Arihant Capital Markets Ltd is the book running lead manager.
The price band of Balaji Phosphates IPO is ₹66 to ₹70 per share.
The lot size of Balaji Phosphates IPO is 2000 shares.
The minimum investment for Balaji Phosphates IPO is approximately ₹1,40,000 based on the upper price band.
The allotment date of Balaji Phosphates IPO is Mar 5, 2025.
You can check Balaji Phosphates IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Balaji Phosphates IPO allotment status on Rupix for quick and easy access.
₹66 to ₹70 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 2000 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,40,000. After listing, SME shares also trade in lots rather than one share at a time.
₹1,40,000, for one lot of 2000 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 28 February 2025 and closed on 4 March 2025.
The basis of allotment was published on 5 March 2025 by Skyline Financial Services Private Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 7 March 2025 on NSE SME.
The issue size was ₹50.11 crore. The fresh issue was 59,40,000 shares (aggregating up to ₹41.58 crore). The offer for sale was 12,18,000 shares (aggregating up to ₹8.53 crore).