Madhya Bharat Agro Products (MBAPL), the single super phosphate (SSP) manufacturer, has filed a draft red herring prospectus (DRHP) with SEBI for an initial public offer (IPO) of 81 lakh equity shares. The book running lead manager to the issue is Corporate Strategic Allianz.
At present, the company has planned to set up an integrated state of art unit of single super phosphate with an capacity of 120000 TPA and granulated single super phosphate (GSSP) with an capacity of 90000 TPA and an ancillary plant of sulphuric acid will be established at Unit II beneficiated rock phosphate plant (BRP).
SSP is used in large quantities for replenishing phosphorus in the soil which gets depleted steadily with each crop. This is preferred phosphate fertilizer by the farmers. SSP industry enjoys price concession by the government of India, which protects this industry for long run sustainability.
The company’s net profit rose by 17% y-o-y to Rs 3.58 crore and total income increased 16% to Rs 46.35 crore in the year ended March 31, 2012.
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