Indogulf Cropsciences IPO Allotment: How To Check Status Online, GMP And Listing Date

Agrochemicals producer Indogulf Cropsciences Ltd. is scheduled to finalise its IPO share allotment status on July 1.

The mainboard issue closed with a strong subscription of nearly 26 times on the third and last day of bidding on June 30. Indogulf Cropsciences IPO received bids for more than 34.72 crore shares, compared to over 1.33 crore shares on offer, as per NSE data.

The Non-Institutional Investors’ category was booked 48.39 times, while the Qualified Institutional Buyers’ segment was subscribed 33.26 times. The retail quota was subscribed 14.78 times. The employees’ quota was also fully subscribed.

The Rs 200-crore book-building issue opened for subscription on June 26. The IPO comprised a fresh issue of 1.44 crore shares, aggregating to Rs 160 crore and an offer-for-sale portion of 36 lakh shares, amounting to Rs 40 crore. 

The IPO price band was fixed at Rs 105 to Rs 111 per share.

Following the IPO share allotment, the company will initiate refunds and share transfers to the Demat accounts on July 2.

Shares of Indogulf Cropsciences Ltd. are scheduled to be listed on the NSE and BSE on July 3.

Investors who applied for Indogulf Cropsciences shares can check their allotment status on the websites of BSE, NSE, and the issue registrar, Bigshare Services.

1.    Visit the BSE IPO allotment status page here.  

2.    Set the issue type as ‘Equity’.

3.    From the dropdown list, select ‘Indogulf Cropsciences’.

4.    Enter your PAN or IPO application number.

5.    Click on the ‘Search’ button to check your allotment status.

1. Visit NSE’s IPO allotment page here.  

2. Select ‘Equity & SME IPO bid details’ from the two options.

3. Choose 'IGCL' from the drop-down list for IPO symbols.

4. Enter PAN and Application Number.

1. Visit the IPO allotment status page of Bigshare Services, here.

2. Click on any of the three servers.

3. Select the company name ‘Indogulf Cropsciences’ and then choose any of these: Beneficiary ID, PAN, or Application Number.

4. Enter the Captcha and click on the ‘Search’ button.

Indogulf Cropsciences IPO latest grey market premium was Rs 12 apiece on July 1. The current GMP indicates an expected listing price of Rs 123 per share, compared to the upper limit of the IPO price band of Rs 111 apiece. This reflects a potential list gain of nearly 11% per share.

Note: GMP does not represent official data and is based on speculation.

Use Of IPO Proceeds

Of the Rs 200 crore, the company plans to use about Rs 65 crore for working capital needs and Rs 34 crore to repay loans. The company has proposed to utilise Rs 12 crore for IPO expenses and Rs 14 crore for capital expenditure.

Established in 1993, the company specialises in the manufacturing and distribution of crop protection products, plant nutrients, and biologicals. Their product portfolio includes insecticides, herbicides, fungicides, plant growth regulators, bio-stimulants, and bio-fertilisers, among other things.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.