So far, the scrip has hit a high of Rs 47.25 and a low of Rs 43.55. Over 40.77 lakh shares of the company have changed hands in the counter till now.

The IPO of PPL was subscribed 1.75 times. The issue opened for bidding on 17 May 2022 and it closed on 19 May 202). The price band of the IPO was fixed at Rs 39-42 per share.

The IPO comprised a fresh issue of equity shares worth to Rs 1004 crore and an offer for sale of upto 11,85,07,493 equity shares.

The company proposes to utilize the net proceeds of the fresh issue towards part-financing the acquisition of the Goa facility amounting to Rs 520 crore, repayment/prepayment of certain borrowings amounting to Rs 300 crore, and balance towards general corporate purposes. As on 31 March 2022, the aggregate outstanding borrowing of the company is Rs 2957.01 crore.

Ahead of the IPO, PPL on Monday, 13 May 2022, finalized allocation of 10,72,66,532 equity shares to anchor investors at an allocation price of Rs 42 per share, aggregating to Rs 450.51 crore.

PPL was incorporated in 1981 as a joint venture between the Government of India (GoI) and the Republic of Nauru to set up facilities for the manufacture of di-ammonium phosphate (DAP) at Paradeep, Orissa. In 1993, the Republic of Nauru disinvested its equity stake to the GoI and PPL became a public sector enterprise wholly owned by the GoI.

The company is engaged in the manufacture of DAP, complex fertilizers of NPK (Nitrogen, Phosphorous and Potassium) grades, and zypmite (gypsum-based product). The company is also involved in trading of fertilizers, ammonia, neutralized phospo gypsum, micronutrient and other materials. With its head office at Bhubaneswar and various regional offices across the country, the company caters to the demands of farmers all over the country through its Navratna brand of fertilizers.

The company is the second largest private sector manufacturer of non-urea fertilizers in India and the second largest private sector manufacturer in terms of DAP volume sales for the nine months ended 31 December 2021.

On a consolidated basis, PPL's net profit after minority interest stood at Rs 362.78 crore and total income was reported at Rs 5959.97 crore in the nine-months ended December 2021.