Indian Phosphate Shares Skyrocket 90% in Market Debut, Opening at ₹188Indian Phosphate Shares Skyrocket 90% in Market Debut, Opening at ₹188

Indian Phosphate shares launched impressively on the NSE SME, opening at ₹188.10 each, which is a 90% premium above the initial offering price of ₹99 per share, showing strong investor interest and a robust market debut.

Indian Phosphate’s IPO was overwhelmingly received, with a total subscription of 267.89 times. Retail investors subscribed 243.02 times, QIBs 181.58 times, and NIIs impressively at 441.01 times, showcasing exceptionally high demand across all investor categories.

Indian Phosphate Limited specialises in producing Linear Alkylbenzene Sulphonic Acid (LABSA) 90%, a key ingredient in various cleaning products. It operates across several Indian states, with major revenue from LABSA and Single Super Phosphate, using rock phosphate as a primary raw material. Recently, it acquired a 26% stake in Udaipur Poly Sacks Limited, making it a subsidiary.

Indian Phosphate Ltd aims to use IPO funds for a new LABSA 90% and Sulphuric Acid facility in SIPCOT, Tamil Nadu, with INR 33.18 crores allocated. Additionally, INR 26.45 crores will support working capital, with the remaining funds for general corporate purposes to enhance growth and operations.