India Pesticides IPO opens June 23; check issue size, price band, lot size, other details

India Pesticides shares might be listed on each BSE in addition to the Nationwide Inventory Alternate (NSE)

India Pesticides’ Rs 800-crore IPO, which is able to open for subscription on June 23, has mounted its worth band at Rs 290-296 per share of the face worth of Re 1, every. The difficulty will shut on June 25. The general public situation contains recent situation of shares value Rs 100 crore and offer-for-sale (OFS) of Rs 281.4 crore by promoter Anand Swarup Agarwal and Rs 418.6 crore by promoting shareholders. As much as 50 per cent of the web supply has been reserved for certified institutional patrons (QIBs), 35 per cent for retail traders and the remaining 15 per cent for non-institutional traders (NIIs).

Traders could make bids for at least 50 fairness shares and in multiples thereafter. On the higher worth band, they are going to be shelling out Rs 14,800 to get a single lot of India Pesticides IPO. The shares might be listed on each BSE in addition to the Nationwide Inventory Alternate (NSE). Upon profitable itemizing, India Pesticides will be part of the likes of Dhanuka Agritech Ltd, Bharat Rasayan Ltd, UPL Ltd, Rallis India Ltd, PI Industries Ltd, Sumitomo Chemical India Ltd and Atul Ltd.

The Indian agrochemicals trade is fragmented in nature with the presence of greater than 150 lively ingredient producers, over 1,000 formulators and over 200,000 corporations engaged in distribution. India Pesticides faces competitors from each home and multinational firms. Competitors is predicated on pricing, relationships with clients, product high quality, customization and innovation. India Pesticides is engaged within the manufacture of Technicals and Formulations which are used within the manufacture of fungicides, herbicides and pesticides, in addition to APIs which are used within the manufacture of pharmaceutical medicine. The corporate posted a revenue after tax of Rs 134.8 crore within the fiscal ended March 31, 2021.

India Pesticides has deliberate to utilise web proceeds in the direction of funding working capital necessities value Rs 80 crore and for common company functions. Main herbicide Technicals that the corporate manufactures embrace Thiocarbamate herbicides which have software in discipline crops, akin to wheat and rice, and are used globally. It additionally manufactures and sells numerous formulations of pesticides, fungicide and herbicides, development regulators and Acaricides, that are ready-to-use merchandise.