The issue opened for bidding on Friday (28 February 2025) and it will close on Tuesday (04 March 2025). The price band of the IPO is fixed between Rs 66 to Rs 70 per share. The minimum order quantity is 2,000 equity shares. The equity shares will list on NSE’s SME platform.

The issue size comprises a fresh issue of 53,68,000 and offer for sale (OFS) of 12,18,000 shares by existing promoters. The promoter and promoter group shareholding will dilute to 69.90% from 100% pre-issue.

About 3,58,000 equity shares will be reserved for subscription by market makers to the issue. The net issue comprises of 62,28,000 equity shares. The offer and the net offer will constitute 30.10% and 28.60%, respectively, of the post issue paid up equity share capital of the company.

The company intends to utilize the net proceeds to meet funding requirements for working capital, capital expenditures and general corporate expenses.

Ahead of the Balaji Phosphates on Thursday, 27 February 2025, raised Rs 4 crore from anchor investors. The board has allotted 5.72 lakh shares at Rs 70 per share to 2 anchor investors.

Balaji Phosphates is engaged in the production of NPK granulated and mixed fertilizers, as well as zinc sulfate (21%). The company focuses on manufacturing phosphate fertilizers and offers a diverse range of products, including single superphosphate (SSP) in both powder and granulated forms. The SSP products are produced in accordance with the Fertilizer Control Order of India standards. The facility reportedly has an installed capacity of 120,000 MTPA for SSP and 3,300 MTPA for zinc sulfate. SSP is a key contributor to its revenue. As of 31 August 2024, the company had a total of 40 employees.

The company recorded revenue from operations of Rs 53.37 crore and net profit of Rs 4.15 crore for the period ended 31 August 2024.