Rs 200 cr IPO open from June 26 to 30,2025
MUMBAI, June 25 (The CONNECT)-Indogulf Cropsciences has garnered Rs. 58.2 crores from anchor investors ahead of its initial public offering that opens for public subscription on tomorrow. The company informed the bourses that it allocated 52,43,242 equity shares at Rs. 111 per share on Wednesday, June 25, 2025, to anchor investors.
Indogulf Cropsciences commenced its operations in 1993 and primarily operate under three business verticals namely crop protection, plant nutrients and biologicals, to retail and institutional customers focused on improving the crop yield. It is engaged in the business of manufacturing of crop protection products, plant nutrients and biologicals in India.
It is one of the first few indigenous manufacturers of Pyrazosulfuron Ethyl technical, with the minimum purity of 97% indigenously in India and commenced production in 2018. It is recognized as a ‘Two Star Export House’ and a growing exporter of crop protection, plant nutrients and biologicals products and it exported its products to over 34 countries. (Source: CareEdge Report)
Some of the marquee Institutions that participated in the anchor includes Abakkus Diversified Alpha Fund, Viney Growth Fund, Swyom India Alpha Fund, Sunrise Investment Trust- Sunrise Investment Opportunities Fund and Rajasthan Global Securities Private Limited.
Systematix Corporate Services Limited is the sole book-running lead manager, and Bigshare Services Private Limited is the registrar of the issue.
The IPO
The IPO, Which closes on Monday, June 30, 2025, is a mix of fresh issue of up to Rs 160 crore and an offer for sale up to 15,40,960 equity shares by Om Prakash Aggarwal (HUF), and up to 20,62,643 equity shares by Sanjay Aggarwal (HUF).
The price band for the Offer has been determined at Rs 105 – Rs 111 per equity share.
The IPO will fetch Rs 200 crore at the upper end of the price band.
Investors can bid for a minimum of 135 equity shares and in multiples of 135 equity shares thereafter.
The Offer is being made through the book-building process, wherein not more than 50% of the net offer shall be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15% of the offer shall be available for allocation to non-institutional bidders, and not less than 35% of the offer shall be available for allocation to retail individual bidders.
The proceeds from the fresh issue to the extent of Rs 65 crore will be used for funding working capital requirements of the company; Rs 34.12 crore for repayment/prepayment, in full or in part, of certain outstanding borrowings availed by the Company; Rs 14 crore for Capital expenditure of the Company for setting up an in-house dry flowable (DF) plant at Barwasni, District Sonipat, Haryana; and general corporate purposes.
