Indogulf Cropsciences’s Rs 200-crore initial public offering (IPO) hits the primary market on June 26 at a price band of Rs 105-111 a share. The IPO is a mix of a fresh issue worth Rs 160 crore and an offer for sale of up to 36.03 lakh shares by promoters Om Prakash Aggarwal (HUF) and Sanjay Aggarwal (HUF).
The offer is being made through the book-building process, wherein not more than 50% of the net offer would be available for proportionate allocation to qualified institutional buyers, not less than 15% for allocation to non-institutional bidders, and not less than 35% to retail individual bidders. The market lot is 135 shares.
Indogulf Cropsciences on Wednesday raised over Rs 58 crore from anchor investors as part of the IPO process. Sunil Singhania-led Abakkus Asset Manager, Viney Growth Fund, Swyom India Alpha Fund, Sunrise Investment Trust—Sunrise Investment Opportunities Fund, and Rajasthan Global Securities were allotted shares in the anchor round. According to a circular uploaded on the BSE’s website, Indogulf Cropsciences allocated 52.43 lakh shares to five entities at Rs 111 per equity share, aggregating the deal value to Rs 58.20 crore.
The proceeds from the fresh issue, totalling Rs 65 crore, will be used to fund working capital requirements, Rs 34.12 crore for debt repayment, Rs 14 crore for capital expenditure, and general corporate purposes.
Indogulf Cropsciences, which began its operations in 1993, manufactures crop protection products, plant nutrients, and biologicals in India. It manufactures and markets an extensive range of products in all types of available formulations such as water-dispersible granules, suspension concentrate, capsule suspension, ultra-low volume, emulsion in water, soluble granule, flowable suspension, etc. which can be in powder, granules and liquid form and catering to a broad spectrum of crops, including cereals, pulses and oilseeds, fibre crops, plantations, and fruits and vegetables.
The company’s key customers include Krishi Rasayan Exports Private Limited, Delhi; Parijat Industries (India) Private Limited, Delhi; BR Agrotech Private Limited, Delhi; Crystal Crop Protection Limited, Delhi; and Asasiat of Development for Agric & Trade Co., UAE. It has also established long-term relationships with suppliers, namely Coromandel International Limited, GSP Crop Science Private Limited, Gujarat, Dagro Chemical (Changzhou) Co. Ltd., China, Hubei Benxing Supply Chain Management Co. Ltd, China, and MaxxGro Agrology Private Ltd, Delhi.
At present, it operates four manufacturing facilities in Samba, Jammu and Kashmir; Nathupur—I, Haryana; Nathupur—II, Haryana; and Barwasni, Haryana. It also has two Subsidiaries, Indogulf Cropsciences Australia Pty Ltd in Sydney, Australia, and Abhiprakash Globus Private Limited in Delhi, India.
Published on June 26, 2025