Indian Phosphate Ltd Sets IPO Price Band at Rs 94-99 per Share

Indian Phosphate Ltd, a prominent manufacturer from Udaipur, has announced its initial public offering (IPO) price band at Rs 94-99 per share. The subscription opens on August 26, 2024, and closes on August 29, 2024. The proceeds will be used for facility expansion and working capital.

Udaipur-based Indian Phosphate Ltd has set a price band of Rs 94 to Rs 99 per equity share for its upcoming initial public offering (IPO).

The IPO will open for subscription on August 26, 2024, and close on August 29, 2024. Investors can bid for a minimum of 1,200 shares and in multiples thereof.

The funds raised, up to Rs 67.36 crores, will be allocated for expanding manufacturing facilities in Tamil Nadu and Maharashtra, and to meet working capital requirements. Revenue from operations for FY24 stood at Rs 704.17 crore.

(With inputs from agencies.)