InvestorQ : What are the details and should I subscribe to India Pesticides Limited IPO?
Abigail Ghoshal made post

What are the details and should I subscribe to India Pesticides Limited IPO?

2 months ago
India Pesticides Limited's initial public offering (IPO) issue will open on Wednesday i.e., June 23rd, 2021, and close on June 25th, 2021. Investors can make bids for a minimum of 50 equity shares and in multiples thereafter. The shares will be listed on both BSE as well as the National Stock Exchange (NSE).

The company aims to raise Rs800cr from the IPO which comprises a fresh issue of Rs100cr and an offer for sale (OFS) of Rs281.40cr by Anand Swarup Agrawal and Rs418.6cr by other shareholders and promoters. Up to 50% of the net offer has been reserved for qualified institutional buyers (QIBs), 35% for retail investors, and the remaining 15% for non-institutional investors (NIIs). The price band for the offering has been fixed at Rs290-296 a share of the face value of Re 1, each.

India Pesticides has planned to utilize net proceeds towards funding working capital requirements worth Rs 80 crore and for general corporate purposes. Major herbicide Technicals that the company manufactures include Thiocarbamate herbicides that have application in field crops, such as wheat and rice, and are used globally. It also manufactures and sells various formulations of insecticides, fungicide and herbicides, growth regulators, and Acaricides, which are ready-to-use products.

Subscribe or not? - Looking into the company's financial position and future prospects, it will be a good bet for opening & long term. The company is operating for more than 25 Years and one of the biggest exporters in foreign countries.

IPO Snapshot:
IPO Opening DateJun 23, 2021
IPO Closing DateJun 25, 2021
IPO PriceRs290 to Rs296 per equity share
Market Lot50 Shares
Min Order Quantity50 Shares
Listing AtBSE, NSE
Basis of Allotment DateJun 30, 2021
Initiation of RefundsJul 1, 2021
IPO Listing DateJul 5, 2021