• Fresh Issue size: It provides a fresh issue of 59,40,000 equity shares, each with a face value of Rs. 10.

• Offer for sale: It provides an offer for sale of 12,18,000 equity shares, each with a face value of Rs. 10.
• Price Range: The price ranges from Rs. 66 - 70 per equity share.
• Issue Type: The IPO is a 100% book-built offer.
• Subscription date: The issue period begins on February 28th, 2025 and ends on March 4th, 2025.
• Lot size: It is providing a lot size of 2000.
• Listing Date: The IPO is going to be listed on March 7th, 2025.
• Stock Exchange: The IPO is going to be listed on the NSE (SME).

The company with the help of this IPO seeks to utilize the net proceeds to meet working capital and expenditure and for general corporate purposes.

The table below (in Lakhs) stipulates the restated Financial Information of the company for the last three financial years for the period ended on August 31, 2024.

The agriculture sector is one of the most important sector of India and is a primary source of livelihood for almost 55% of India’s population.

The Indian food and grocery market is the world’s sixth largest, with retail contributing 70% of the sales.

Due to the rapid increase in demand of agriculture products domestically and internationally, The Indian government has also initiated many schemes like PM Kisan program, PM Dhan Dhanya Krishi Yojana scheme, PGME schemes, 5 year cotton production scheme etc. which would play an important role in boosting the agriculture industry further.

Given the constant rise in the agriculture sector, the demand for fertilizers would remain constantly high. The 2025-26 union budget has also allocated Rs. 1,37,757 crore towards the Ministry of Agriculture and Framer welfare and this agricultural sector is predicted to grow and reach US$ 30 - 35 billion by 2025.

• The company manufactures various kinds of fertilizers like Single super phosphates, Zinc sulphate and NPK mix fertilizers that are very helpful in the agriculture sector. It is in this line of industry since 1996 and has made a prominent place in the fertilizer industry.

• The company’s facility has a capacity of 120,000 MTPA for SSP and 3,300 MTPA for Zinc Sulphate and its operations spans across the states of Madhya Pradesh, Chhattisgarh, Maharashtra, Andhra Pradesh and Telangana.
• The company has shown significant growth in the last three years increasing its Profit after tax from Rs. 319.08 lakh in 2022 to Rs. 604.05 lakh in 2024 (with Rs. 414.65 lakh as of 31.08.2024)
• The company aims to optimize its business strategies with increased capacity, advanced technologies and enhanced inventories.

• The company is highly dependent on the performance of the agricultural sector, any kind of downfall or disruption in the agricultural sector may lead to decrease in the demand of fertilizers which could adversely affect the operations and financial condition of the business.
• The company is primarily dependant on key raw materials like Rock Phosphate and Sulfuric Acid which are sourced from foreign countries, failure to procure these raw materials or any fluctuation of prices in the supply chain or trade policies, tariffs, geopolitical tension etc. may negatively affect the company operations leading to adverse financial conditions.
• The company derives its major revenue from the sale of Single super phosphates (SSP) which accounted to 76.72% of sales as of 31.03.2024, any negative drawback or disruption in terms of the quality may lead to decline in the demand of the product which may adversely affect the company operations and the financial conditions of the business.
• The fertilizer industry is a regulatory industry in India, any change in government policies or reduction in subsidies may adversely affect the operations and financial condition of the business.
• The company has to regularly obtain approvals to sell its products, failure to maintain or obtain prior approvals may affect the company operations leading to adverse financial conditions.

The fertilizer industry is largely dependent on the agricultural sector and, with India being a leading country in the field of agriculture, its value is predicted to increase to US$ 30-35 billion by 2025.

The company has a long prominent presence in the fertilizer industry and has proved to show strong fundamentals and healthy profits. The company is also subject to many risks and potential investors should go through the risks and strengths given in the RHP draft prospectus before investing.

The company through this IPO aims to utilize its net proceeds to meet working capital and for general corporate purposes. The company is in this line of industry since 1996 and has built a prominent presence in the market. It also faces certain risks which the investor should analyse before investing.