Indogulf Cropsciences IPO opens tomorrow: GMP, issue details, 10 key things to know
Indogulf Cropsciences IPO opens for subscription on tomorrow (Thursday, June 26). Indogulf Cropsciences Limited focuses on manufacturing crop protection products, plant nutrients, and biological solutions within India.
In 2019, the company achieved the production of Spiromesifen technical with a purity of 96.5% and established itself as one of the leading local manufacturers of Pyrazosulfuron Ethyl technical with a 97% purity level in India.
The company operates four manufacturing facilities in Samba (Jammu & Kashmir) and Nathupur (Haryana), covering approximately twenty acres, which includes two locations in Nathupur and one in Barwasni, Haryana.
Indogulf has an extensive distribution network reaching 22 states and 3 Union Territories throughout India, backed by 169 business partners, 5,772 distributors, and 129 collaborators in 34 countries worldwide.
According to the red herring prospectus, the company's publicly traded competitors include Aries Agro Ltd (with a P/E of 17.47), Basant Agro Tech India Ltd (with a P/E of 44.58), Best Agrolife Ltd (with a P/E of 12.23), Bhagiradha Chemicals & Industries Ltd (with a P/E of 101.81), Heranba Industries Ltd (with a P/E of 35.34), India Pesticides Ltd (with a P/E of 41.62), and Dharmaj Crop Guard Ltd (with a P/E of 18.02).
Indogulf Cropsciences IPO date: The issue opens for subscription on Thursday, June 26 and closes on Monday, June 30.
Indogulf Cropsciences IPO price band: The issue's price band has been fixed in the range of ₹ 105 to ₹ 111 per equity share of face value of ₹ 10.
Indogulf Cropsciences IPO lot size: IRM Energy IPO lot size is 135 equity shares and in multiples of 135 equity shares thereafter.
Anchor investors: The allocation to anchor investors for Indogulf Cropsciences IPO is scheduled to take place today (Wednesday, June 25).
Indogulf Cropsciences IPO details: Indogulf Cropsciences IPO comprises a fresh issue of ₹ 160 crore, and an offer-for-sale (OFS) of 36,03,603 equity shares by the promoter group selling shareholder.
Indogulf Cropsciences IPO objective: Indogulf Cropsciences IPO intends to use the net proceeds from the offering for several purposes, such as addressing working capital requirements, settling or paying off existing debts, financing capital expenditures for the company, or setting up an in-house dry flowable (DF) facility in Haryana, in addition to general corporate activities.
Indogulf Cropsciences IPO listing date and allotment details: The basis for the allotment of shares for Indogulf Cropsciences' IPO is expected to be determined on Tuesday, July 1. Refunds will be processed by the company on Wednesday, July 2, and on the same day, allottees will have shares credited to their demat accounts following the refunds. Indogulf Cropsciences share price is anticipated to be listed on the BSE and NSE on Thursday, July 3.
Lead Manager and Registrar of Indogulf Cropsciences IPO: Systematix Corporate Services Limited is the book-running lead manager for the Indogulf Cropsciences IPO, while Bigshare Services Pvt Ltd serves as the registrar for this offering.
Indogulf Cropsciences IPO reservation: The issue has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.
Indogulf Cropsciences IPO GMP today: Indogulf Cropsciences IPO GMP today or grey market premium is +11. This indicates Indogulf Cropsciences share price were trading at a premium of ₹ 11 in the grey market on Wednesday, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Indogulf Cropsciences share price was indicated at ₹ 122 apiece, which is 9.91% higher than the IPO price of ₹ 111.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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