On 17 May 2022 was the first day of the Initial Public Offer of Paradeep Phosphates Ltd, which was subscribed 29 per cent. The bids have been received for 7,86,87,000 shares against 26,86,76,858 were offered, as per National Stock Exchange (NSE) data.

Retail Individual Investors (RIIs) were subscribed 57 per cent, and part of non-institutional investors (NII) was subscribed 6 per cent, which was classified by NSE. The fresh issue of equity shares aggregates to Rs 1,004 crore, and an offer for sale of up to 11,85,07,493 equity shares.

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Meanwhile, Zuari Maroc Phosphates Pvt Ltd (ZMPPL) will offload 60,18,493 equity shares and sell up to 11,24,89,000 equity shares by the government of India (GOI). The company’s entire shares will be offloaded by the government at 19.55 per cent.