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Beneath the OFS, Zuari Maroc Phosphates Pvt Ltd (ZMPPL) will provide as much as 75,46,800 shares and as much as 11,24,89,000 fairness shares will likely be supplied by Authorities of India. Paradeep Phosphates, which filed preliminary IPO papers with the regulator in August, obtained its observations on September 22, an replace with the Securities and Alternate Board of India (Sebi) confirmed on Monday.
In Sebi parlance, issuance of observations implies its go-ahead to drift IPO. At the moment, ZMPPL holds 80.45 per cent and Authorities of India personal 19.55 per cent stake within the firm.
Proceeds of contemporary difficulty will likely be used to partially finance the acquisition of the fertiliser manufacturing facility in Goa, for cost of debt and common company functions.
Paradeep Phosphates is primarily engaged in manufacturing, buying and selling, distribution and gross sales of a wide range of advanced fertilizers equivalent to di-ammonium phosphate (DAP) and NPK fertilizers.
Its fertilizers are marketed underneath manufacturers like ‘Jai Kisaan – Navratna’ and ‘Navratna’. Axis Capital, ICICI Securities, JM Monetary and SBI Capital Markets are the lead managers to the difficulty.
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