India Pesticides INR 800 Crore IPO Open for Subscription

June 23, 2021June 28, 2021India Pesticides, IPO

India Pesticides Ltd., a 1984 incorporated agrochemical company has opened its IPO worth INR 800 Crore for subscription on 23rd June 2021. The company has a fixed per-share price of INR 290-296. The closing date for IPO is on June 25, 2021. India pesticides IPO includes a fresh issue of shares worth INR 100 crore and the rest of INR 700 Crore shares are by promoters and shareholders. Out of these INR 700 Crore worth shares, 281.4 Crore Rupees share are offered for sale by promoter Mr. Anand Swarup Agarwal, and INR 418.6 crore by other selling shareholders.

Offered market lot size for this IPO is of 50 shares. Retail- individual investors can buy up to 13 lots (which translates to 650 shares or INR 192,400) as individual investors are allowed to bid for a maximum amount of INR 2 Lakh.

India Pesticides has done a capacity expansion of 62.5% (in terms of volume) in the last three years, and has posted a turnover of INR 655.38 Crore for FY-21.

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