Balaji Phosphates Limited

CLOSED

SME IPO · IPO Guide

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Price Band

₹66 – ₹70

Lot Size

2000Shares

Min. Investment

₹140,000

Subscription

1.27x

Expert Rating

Avoid

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Lot Size Calculator

Application	Lots	Shares	Amount
Retail (Min)	1	2,000	₹1,40,000
Retail (Max)	2	4,000	₹2,80,000
S-HNI (Min)	3	6,000	₹4,20,000
S-HNI (Max)	7	14,000	₹9,80,000
B-HNI (Min)	8	16,000	₹11,20,000

As per financials, Balaji Phosphates Limited has shown average growth, RoNW is 17.26% and P/E is respectively 27.34, 27.55 and 16.72 as per FY23, FY24 and annualized FY25 earnings. So, issue looks aggressively priced in current market conditions and sudden rise in net-profit for 5M FY25 raises concerns. Company is engaged in the business of manufacture and supply of Single Super Phosphate (SSP) in powder and granulated forms (fertilizer business), which is highly fragmented and competitive business segment. So, we give AVOID rating for this IPO. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

As on Date	QIB	NII	RII	Total
Shares Offered / Reserved	14,68,000	20,40,000	27,20,000	62,28,000
Day 1 28-02-25	0 (0)	5,48,000 (0.27)	5,74,000 (0.21)	11,22,000 (0.18)
Day 2 03-03-25	0 (0)	23,56,000 (1.15)	14,82,000 (0.54)	38,38,000 (0.62)
Day 3 04-03-25	18,46,000 (1.26)	30,84,000 (1.51)	29,60,000 (1.09)	78,90,000 (1.27)

Offer for Sale

1
Offer for Sale(a) Sell upto 12,10,000 equity shares (Rs 8.53/- Cr) of the selling shareholders of the company.Fresh Issue(a) To meet the capital expenditure requirements. ( Rs 12.88/- Cr )(b) To meet the working capital requirements. ( Rs 19/- Cr )(c) General corporate purposes.(d) To meet out the Offer Expenses.
2
Offer for Sale(a) Sell upto 12,10,000 equity shares (Rs 8.53/- Cr) of the selling shareholders of the company.

Fresh Issue

1
Fresh Issue(a) To meet the capital expenditure requirements. ( Rs 12.88/- Cr )(b) To meet the working capital requirements. ( Rs 19/- Cr )(c) General corporate purposes.(d) To meet out the Offer Expenses.
2
All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decision
3
Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published on this applicatio
4
With entry barriers, SEBI wants only well informed investors to participate is such SME offer
5
With crazy recent listings, SME IPOs have started drawing attention of investors across the boar
6
However, as SME issues have entry barriers and continued low preference from broking community, any reader taking decisions based on any information published here does so entirely at own ris
7
Above information is based on information available as on date coupled with market perception

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Disclaimer

No financial information whatsoever published herein, should be construed as an offer to buy or sell securities, or as information to make investment decisions, or as an official confirmation of any transaction. All matter published herein is purely for educational and informational purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

Period	Total Income	Total Expenses	Profit After Tax (PAT)
31.08.24 FY25	54.85	49.42	4.15
FY24	151.68	143.31	6.04
FY23	144.64	136.37	6.10
FY22	124.12	119.56	3.19

Open Date	Feb 28, 2025
Close Date	Mar 04, 2025
Allotment Date	Mar 06, 2025
Listing Date	Mar 07, 2025
Face Value	₹ 10 Per Equity Share
Issue Price	₹ 66 to ₹ 70 Per Equity Share
Issue Size	Total Equity Shares of 71,58,000 with aggregating up to Rs 50.11/- Cr Fresh Issue of Up to 59,40,000 with aggregating up to Rs 41.58/- Cr Offer for sale Up to 12,18,000 with aggregating up to Rs 8.53/- Cr
Retail Min Lot	1 Lot (2,000 Shares - ₹ 1,40,000)
Lead Manager	Arihant Capital Markets Limited

Company	P/B Ratio	P/E Ratio	RoNW	Total Revenue (Cr)
Balaji Phosphates Limited Current	3.19	27.5	17.3%	152
Coromandel International Limited	4.74	29.2	18.9%	23,010
Paradeep Phosphates Limited	1.94	17.8	3.28%	12,569
Rama Phosphates Limited	0.89	29.0	(9.39)%	729

Balaji Phosphates Limited

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