India Pesticides, an R&D-focused agrochemical technical firm, has filed its DRHR to raise Rs. 800 crores via an IPO. The public offering includes a fund raise of Rs. 100 crores through a new issue of shares and Rs. 700 crores through an offer-for-sale by promoter and technocrat Anand Swarup Agarwal for Rs. 281 crores and other selling shareholders for the remaining Rs. 419 crores. According to the DRHR, the company can decide to do a Rs. 75 crores pre-IPO placement after consulting with merchant bankers.
Every equity share has a face value of Rs. 1. The business and the promoter selling shareholders, in conjunction with the BRLMS, will determine the price band and the minimum bid lot. The net proceeds will be used to finance working capital needs and general corporate purposes, according to the group. The Company also expects to benefit from the listing of the Equity Shares, such as increased exposure and brand image among current and potential customers.
The opening and closing dates of India Pesticides Limited’s initial public offering are not yet known.
Allotment of equity shares pursuant to the Fresh Issue and transfer of the Promoter Selling Shareholders’ Offered Shares to the eligible Bidders pursuant to the Offer for Sale. However, the status of the allotment has yet to be revealed.
The Company intends to use the Net Proceeds to finance the following projects:
They operate in two distinct verticals: Technicals and Formulations. Fungicides and herbicides, as well as APIs with applications in dermatological products, are manufactured using standardised Technicals.
In addition, the company manufactures and sells ready-to-use insecticides, fungicides, and herbicides, as well as growth regulators and acaricides. It produced over 30 Formulations as of September 30, 2020, including Takatvar, IPL Ziram-27, IPL Dollar, IPL Soldier, and IPL Guru.
If you want to be one of the public investors in India Pesticides’ latest IPO, you must first open a Demat account in order to conduct online trading. With the aid of Angel One, you can open a Demat account and begin trading in less than 5 minutes. Angel One will answer any questions you have about your Demat account.
More information on the India Pesticides IPO should be available soon.
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