Advance Agrolife IPO Opens Sept. 30: Latest GMP Signals 10% Listing Gain, Check Key Details
The subscription window for Advance Agrolife IPO will be open from Sept. 30 and close on Oct. 3.
Advance Agrolife is set to launch an initial public offering (IPO) to raise almost Rs 200 crore from the primary market. The company manufactures agrochemical products. In the run-up to its listing, the grey market premium (GMP) indicated a 10% gain for the issue. Those who want to bid for shares in the IPO must check the following details before making an investment call.
Advance Agrolife IPO GMP Today
According to InvestorGain, the GMP for the Advance Agrolife IPO stood at Rs 10 as of 10:00 a.m. on Sept. 29. It indicates a listing price of Rs 110 apiece at a premium of 10% on the upper limit of the price band.
Note: GMP does not represent official data and is based on speculation.
Advance Agrolife Solutions IPO: Key Details
The Advance Agrolife IPO is a book-built issue of Rs 192.86 crore. It comprises a fresh issue of 1.93 crore shares.
Retail investors can participate in the IPO by bidding for a single lot size of 150 shares, requiring an investment of Rs 15,000. Small Non-Institutional Investors need to bid for 14 lots, amounting to an investment of Rs 2,10,000. Big Non-Institutional Investors can participate in the IPO by bidding for a minimum of 67 lots. It will lead to an investment of Rs 10,05,000.
The price band for the IPO is set between Rs 95 and Rs 100 per share.
The subscription window will be open from Sept. 30 to Oct. 3, with the allotment expected to be finalised on Oct. 6. The company will transfer shares to the demat accounts of successful bidders on Oct. 7 and refunds for non-allottees will be done on the same day.
Shares of the company are scheduled to list on the BSE and NSE on Oct. 8.
Qualified Institutional Buyers (QIBs) will be offered a maximum of 50% of the net issue. Retail investors will be allocated a minimum of 35% of the net issue and at least 15% will be reserved for Non-Institutional Investors.
Choice Capital Advisors Ltd. is the book-running lead manager and KFin Technologies Ltd. is the registrar of the issue.
Use Of Proceeds
The company will use proceeds from the IPO to fund working capital requirements and for general corporate purposes.
About Advance Agrolife
Advance Agrolife manufactures and distributes a variety of agrochemicals such as insecticides, fungicides, herbicides and plant growth regulators. It was established in 2002.
Financials
The company reported a 3.7% year-on-year (YoY) increase in profit after tax (PAT) to Rs 25.64 crore in FY25 from Rs 24.73 crore in FY24. Revenue from operations rose 10.17% YoY to Rs 502.26 crore in FY25 from Rs 455.9 crore in FY24.
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.
