The Government of India (GoI) has received Rs 471.50 crore as disinvestment proceeds from Paradeep Phosphates (PPL) IPO through sale of GoI's residual stake. The IPO of fertiliser company PPL was open from May 17-19 at a price band of Rs 39-42 per share. Through the Initial Public Offering (IPO), the government offloaded its entire 19.55 per cent stake in the company.
Paradeep Phosphates is primarily engaged in manufacturing, trading, distribution and sales of a variety of complex fertilizers such as di-ammonium phosphate (DAP) and NPK fertilizers.
