Indogulf Cropsciences Ltd. is set to open its initial public offering worth Rs 200 crore on Thursday.
The company has set a price band at Rs 105 to Rs 111 per share for the IPO.
The IPO includes an offer-for-sale component, through which two existing shareholders of the company would offload equity shares to raise Rs 40 crore. The selling shareholders are Om Prakash Aggarwal and Sanjay Aggarwal, who would be paring 15.4 lakh equity shares and 20.6 lakh equity shares, respectively.
Systematix Corporate Services Ltd. will be the bookrunning lead manager to the issue, and Bigshare Services Pvt. will be the registrar, it added.
Indogulf Cropsciences IPO Details
Issue opens: June 26.
Issue closes: June 28.
Issue price: Rs 105-Rs 111.
Fresh issue: Rs 160 crore.
OFS segment: Rs 40 crore.
Lot size: Minimum 135 shares, and then in multiples thereof.
Indogulf Cropsciences: Business
Indogulf Cropsciences is engaged in the business of manufacturing crop protection products, plant nutrients and biologicals in India. The company is also a growing exporter of crop protection, plant nutrients and biologicals products and export to over 34 countries.
Indogulf commenced operations in 1993 and primarily operate under three business verticals namely crop protection, plant nutrients and biologicals, to retail and institutional customers.
The company's product portfolio caters to a broad spectrum of crops, including cereals, pulses and oilseeds, fibre crops, plantations, and fruits and vegetables.
Use Of Proceeds
The amount raised through the fresh issue will be used for setting up an "in-house dry flowable plant" in Haryana's Sonipat, the company said.
The proceeds will also be used for funding working capital requirements, repayment or prepayment of certain outstanding borrowings, capital expenditure, and general corporate purposes, it added.
Financial Performance
Indogulf Cropsciences logged a net profit of Rs 28.2 crore and revenue from operations of Rs 552.2 crore in the financial year 2024. In the preceding fiscal, the company had reported a net profit of Rs 22.4 crore and revenue of Rs 549.6 crore.
As of April 30, 2025, the company's debt pile stood at Rs 256.8 crore.
Indogulf Cropsciences IPO: Key Risks
The company's brand value may be diluted in case of change in the brand name for a known product, quality concern, or negative publicity, which could adversely affect their business.
Any shortfall in supply of components and raw materials or an increase in input costs may adversely affect the pricing and supply of Indogulf Cropsciences' products.
The agrochemicals industry is capital intensive, hence any failure to raise additional financing in the future could have an adverse effect on Indogulf's business and results of operations.
Indogulf Cropsciences' business is subject to climatic conditions and is cyclical in nature, and seasonal variations and unfavourable local and global weather patterns may have an adverse effect on their business.
Indogulf Cropsciences IPO GMP
The grey market premium of the Indogulf Cropsciences IPO is Rs 11 as of 02:32 p.m. on Monday, according to InvestorGain. This implies shares of the company will likely list at Rs 122 apiece, indicating a 9.91% premium to the upper end of the price band.
It should be noted that GMP, or grey market price, is not an official price quote for the stock and is based on speculation.
Also Read: Ellenbarrie Industrial Gases IPO: Price Band, Financials, Key Dates, GMP — All You Need To Know
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
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