Indogulf Cropsciences IPO: Check price band, issue size, GMP and other details
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Indogulf Cropsciences will launch its IPO on June 26, aiming to raise Rs 200 crore through a combination of fresh issue and offer for sale. The IPO consists of a fresh issue of 1.44 crore equity shares aggregating to Rs 160 crore and an offer for sale of 36.03 lakh shares worth Rs 40 crore.The issue is open for subscription until June 30, with allotment expected on July 1 and listing tentatively scheduled on both BSE and NSE on July 3.The IPO is priced in the range of Rs 105 to Rs 111 per share. Investors can apply for a minimum of one lot comprising 135 shares, amounting to Rs 14,985 at the upper price band. Ahead of the issue opening, the GMP is around Rs 11, indicating a premium of 10%. Systematix Corporate Services is the book-running lead manager for the IPO, with Bigshare Services acting as the registrar. The issue has received keen interest across investor categories, supported by the company's strong fundamentals and diversified business operations.Established in 1993, Indogulf Cropsciences is a well-known player in the agrochemical industry. The company manufactures crop protection products, plant nutrients, and biologicals and has a strong presence across 22 Indian states, 3 Union Territories, and exports to 34 countries.Its robust infrastructure includes four manufacturing units in Haryana and Jammu & Kashmir, complemented by a large distribution network and 640 permanent employees.Financially, the company posted a revenue of Rs 555.79 crore in FY 2023–24 with a PAT of Rs 28.23 crore. It has demonstrated consistent performance with an EBITDA margin of over 10 percent and an ROE of 12.2%.The IPO proceeds will be used to fund working capital, repay debt, and establish a new dry flowable plant in Haryana.With its experienced promoters, strong R&D capabilities, and sectoral tailwinds from India's growing agri-input market, Indogulf Cropsciences IPO presents a promising investment opportunity for those seeking long-term value in the chemical and agri-tech space.
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