The Balaji Phosphates IPO Subscription, live since February 28, 2025, has garnered mixed interest ahead of its March 4, 2025, closing. As of March 3, 2025, the SME IPO is 0.57x subscribed overall, with stark contrasts across categories: 0.98x in NII, 0.56x in Retail, and zero bids from QIBs. The company aims to raise ₹50.11 crore through a price band of ₹66 to ₹70 per share, allocating 40% to Retail, 30% to QIBs, and 30% to NIIs.
While high-net-worth investors (NIIs) show near-full subscription, Retail participation remains tepid, and institutional buyers (QIBs) are conspicuously absent. This uneven trend underscores the challenges SME offerings face in balancing diverse investor appetites.
With a minimum lot size of 2,000 shares (₹1,40,000), the IPO’s fate hinges on last-minute bids, particularly from institutions. As the deadline nears, all eyes are on whether Balaji Phosphates’ IPO can leverage its upcoming NSE SME listing to rally momentum.
Balaji Phosphates IPO Subscription Status
| Day | Date | QIB | NII | RII | Total |
|---|---|---|---|---|---|
| 1 | 28th Feb 2025 | 0.00x | 0.27x | 0.22x | 0.19x |
| 2 | 3rd Mar 2025 | 0.00x | 0.98x | 0.56x | 0.57x |
Balaji Phosphates SME IPO Bidding Number of Shares by Category
| Category | Shares Offered | Amount (Rs Cr) | Size (%) |
|---|---|---|---|
| Anchor Investor | 5,72,000 | ₹4.00 | 7.99% |
| Market Maker | 3,58,000 | ₹2.51 | 5.00% |
| QIB | 14,68,000 | ₹10.28 | 20.51% |
| NII | 20,40,000 | ₹14.28 | 28.50% |
| Retail | 27,20,000 | ₹19.04 | 38.00% |
| Total | 71,58,000 | ₹50.11 | 100% |
Investor Categories
- Qualified Institutional Buyers (QIB): Financial Institutions, Banks, FIIs, and Mutual Funds
- Non-Institutional Investors(NII): Individual Investors, NRIs, Companies, Trusts, etc
- Retail Individual Investors (RII): Retail Individual Investors or NRIs
- Employee (EMP): Eligible Employees
- Others: Eligible Shareholders
Balaji Phosphates IPO Dates
| IPO Open Date: | February 28, 2025 |
| IPO Close Date: | March 4, 2025 |
| Basic of Allotment: | March 5, 2025 |
| Refund: | March 6, 2025 |
| Credit of Shares to Demat Account: | March 6, 2025 |
| IPO Listing Date: | March 7, 2025 |
Balaji Phosphates IPO Details
| IPO Open Date: | February 28, 2025 |
| IPO Close Date: | March 4, 2025 |
| Listing Date: | March 7, 2025 |
| Face Value: | ₹10 Per Equity Share |
| Listing Date: | ₹66 to ₹70 Per Share |
| Lot Size: | 2,000 Shares |
| Issue Type: | Book Built Issue IPO |
| IPO Listing At: | NSE SME |
| Total Issue Size: | 71,58,000 Shares (Approx ₹50.11 Crores) |
| Offer for Sale: | 12,18,000 Shares (Approx ₹8.53 Crores) |
| Fresh Issue: | 59,40,000 Shares (Approx ₹41.58 Crores) |
| Retail Quota: | Not more than 40% |
| QIB Quota: | Not more than 30% |
| NII (HNI) Quota: | Not more than 30% |
| Promoter Holding Pre IPO: | 100% |
| Promoter Holding Post IPO: | 69.90% |
About Balaji Phosphates
Founded on April 4, 1996, and registered with the RoC-Kanpur, Balaji Phosphates Private Limited has emerged as one of India’s leading suppliers of quality fertilizers.
In today’s competitive agricultural landscape, ensuring access to safe, effective fertilizers is essential, and Balaji Phosphates excels in delivering just that.
The company specializes in a diverse range of fertilizer products, including Single Super Phosphate (SSP) in both powder and granulated forms, NPK Granulated & Mixed Fertilizers, and Zinc Sulphate.
All products are manufactured in strict compliance with the Fertilizer Control Order of India, underscoring the company’s commitment to quality and safety.
Its state-of-the-art manufacturing facility, as of March 31, 2024, boasts an impressive annual production capacity of 1,20,000 MT for SSP, 3,300 MT for Zinc Sulphate, and 49,500 MT for NPK fertilizers.
Financially, the company achieved a revenue of ₹151.55 crores in FY 2024, marking a notable increase over the previous two years.