Indogulf Cropsciences Ltd, based in Delhi, has received SEBI’s final approval for an IPO to raise up to ₹200 crore. The company specializes in crop protection, plant nutrients, and biological products.
Indogulf Cropsciences Limited, a Delhi-based company specializing in crop protection, plant nutrients, and biological products, has received final approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO) to raise up to ₹200 crore.
Founded in 1993, Indogulf Cropsciences is committed to enhancing crop productivity through its innovative solutions. The company operates in three core sectors: crop protection, plant nutrients, and biological products, with a diverse product portfolio that includes brands like Farrate, Dominator, Corsa-808, Alkazar, and Bound Off. Their offerings include technical products such as Abamectin Tech, B.P.M.C Tech, and Azoxystrobin Technical.
The IPO will consist of a fresh issue of up to ₹200 crore and an offer for sale of up to 38,54,840 equity shares from existing shareholders. The company plans to allocate the funds raised towards its working capital requirements, loan repayments, and a capital expenditure plan for a new production facility in Barwasni, Haryana.
Details of the Offer:
- The IPO will include a reservation for eligible employees.
- The fresh issue will comprise up to ₹200 crore, with ₹100 crore earmarked for working capital, ₹40 crore for loan repayments, and ₹14 crore for capital expenditures to establish the DF plant.
- The offer for sale includes shares from Om Prakash Aggarwal (HUF) and Sanjay Aggarwal (HUF).
- Systematix Corporate Services Limited is the book-running lead manager for the IPO.
The company intends to use the funds raised to strengthen its operations and expand its production capacity to meet the growing demand in the agricultural sector. The listing will provide an opportunity for investors to tap into the growth of the Indian agricultural industry.
