The initial public offer (IPO) for India’s second-largest manufacturer of non-urea fertilisers and di-ammonium phosphates (DAP) in the private sector, Paradeep Phosphates Ltd, opens for subscription today. The fertilizer company will open its initial public offering (IPO) on May 17 and will close on May 19. The IPO consists of a fresh issue of shares worth Rs 1,501 crore and an offer for the sale of 11.85 crore shares by promoters and shareholders of the company.