Indogulf Cropsciences IPO to Bloom: Rs 200 Cr Issue Opens June 26

Image Source: Goodreturns

Indogulf Cropsciences, India's leading agrochemical firm, is launching its Rs 200 crore Initial Public Offering (IPO) on June 26–June 30, with the price band of Rs 105–111 per equity share. The IPO comprises a fresh issue of Rs 160 crore and an offer for sale of 36.03 lakh shares by the promoters.

Key highlights:

- Bidding can be done by investors for a minimum of 135 shares and in multiples thereafter. Bidding by anchor investors starts from 25th June.
- The company will raise Rs 200 crore at the higher price band. The company will list the shares at BSE and NSE by July 3.
- The proceeds will be used as follows: Rs 65 crore for working capital, Rs 34.12 crore for repayment of debt, Rs 14 crore for installation of a dry flowable (DF) plant at Barwasni, Haryana, and the balance for general corporate purposes.

Company overview:

- Indogulf commenced in 1993 and deals in crop protection, plant nutrients, and biologicals. - It operates four manufacturing plants and supplies to over 34 countries.
- In the nine months until December 2024, it generated revenue of Rs 464.2 crore and profit of Rs 21.7 crore.

Sources: Economic Times, Moneycontrol, Rediff Money, Goodreturns, The Week.