India Pesticides IPO price band fixed at ₹290-296 apiece

india pesticides ipo

With an offer for sale (OFS) of ₹281.40 crores by Anand Swarup Agrawal and ₹418.60 crores by other shareholders and promoters, India Pesticides Ltd aims to raise ₹800 crores from the IPO which will comprise a fresh issue of ₹100 crores.

NEW DELHI: With the share price fixed at ₹290-296 a share, the initial public offering (IPO) will open on 23 June and close on 25 June.

Anand Swarup Agrawal is said to hold a 40.07% stake in the company as of September.

Lead managers of this issue are Axis Capital and JM financials.

This issue will help in funding working capital requirements.

The company reported a revenue of ₹333.84 crores, up 52% on the year, while net profit jumped 170% to ₹72.50 crores, for the six months ended September. technicals and formulations are the two operating verticals of India Pesticides. With an aggregate capacity of 19,500 MT for technicals and 6,500 MT for the formulations vertical, India Pesticides are operational out of two manufacturing facilities in Lucknow and Hardoi in Uttar Pradesh.

It has 27 registrations and licenses for agrochemical technicals and 34 formulations for exports along with registrations and licenses for 22 agrochemical technicals and 124 formulations for sale in India.

India Pesticides enjoys a client base such as Conquest Crop Protection Pty Ltd, Sharda Cropchem Ltd, and Stotras Pty Ltd., Syngenta Asia Pacific Pte Ltd, United Phosphorus, and Ascenza Agro, S.A.

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