India Pesticides IPO opens June 23; verify challenge dimension, value band, lot dimension, different particulars


India Pesticides shares might be listed on each BSE in addition to the Nationwide Inventory Trade (NSE)

India Pesticides’ Rs 800-crore IPO, which can open for subscription on June 23, has fastened its value band at Rs 290-296 per share of the face worth of Re 1, every. The difficulty will shut on June 25. The general public challenge contains contemporary challenge of shares value Rs 100 crore and offer-for-sale (OFS) of Rs 281.4 crore by promoter Anand Swarup Agarwal and Rs 418.6 crore by promoting shareholders. As much as 50 per cent of the web supply has been reserved for certified institutional patrons (QIBs), 35 per cent for retail buyers and the remaining 15 per cent for non-institutional buyers (NIIs).

Traders could make bids for no less than 50 fairness shares and in multiples thereafter. On the higher value band, they are going to be shelling out Rs 14,800 to get a single lot of India Pesticides IPO. The shares might be listed on each BSE in addition to the Nationwide Inventory Trade (NSE). Upon profitable itemizing, India Pesticides will be part of the likes of Dhanuka Agritech Ltd, Bharat Rasayan Ltd, UPL Ltd, Rallis India Ltd, PI Industries Ltd, Sumitomo Chemical India Ltd and Atul Ltd.

The Indian agrochemicals business is fragmented in nature with the presence of greater than 150 lively ingredient producers, over 1,000 formulators and over 200,000 firms engaged in distribution. India Pesticides faces competitors from each home and multinational firms. Competitors relies on pricing, relationships with prospects, product high quality, customization and innovation. India Pesticides is engaged within the manufacture of Technicals and Formulations which might be used within the manufacture of fungicides, herbicides and pesticides, in addition to APIs which might be used within the manufacture of pharmaceutical medicine. The corporate posted a revenue after tax of Rs 134.8 crore within the fiscal ended March 31, 2021.

India Pesticides has deliberate to utilise web proceeds in the direction of funding working capital necessities value Rs 80 crore and for basic company functions. Main herbicide Technicals that the corporate manufactures embrace Thiocarbamate herbicides which have software in subject crops, corresponding to wheat and rice, and are used globally. It additionally manufactures and sells varied formulations of pesticides, fungicide and herbicides, development regulators and Acaricides, that are ready-to-use merchandise.

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