India Pesticides IPO to initiate on June 23, mark band mounted at Rs 290-296


India Pesticides IPO: The company plans to elevate Rs 800 crore by plan of the offer that comprises a fresh pronounce of Rs 100 crore and a proposal for sale by promoter Anand Swarup Agarwal and utterly different selling shareholders.

June 18, 2021 / 08: 05 AM IST

Agro-chemical producer, India Pesticides will initiate its initial public offering for subscription on June 23, 2021. The mark band for the offer has been mounted at Rs 290-296 per portion. The pronounce will finish on June 25.

The company is planning to elevate Rs 800 crore by plan of its offer that comprises a fresh pronounce of Rs 100 crore and a proposal for sale of Rs 281.4 crore by promoter Anand Swarup Agarwal and Rs 418.6 crore by utterly different selling shareholders.

The secure proceeds from the fresh pronounce will almost definitely be utilised for working capital requirements (Rs 80 crore), and no longer original company functions, while the offer for sale money will spin to selling shareholders.

Merchants can declare for no longer lower than 50 equity shares and in multiples of 50 equity shares thereafter.

India Pesticides is an R&D-driven agro-chemical producer of technicals with a rising formulations change. It is miles one among the quickest rising agro-chemicals company in the case of quantity of technicals manufactured.

The company has recorded 37.17 percent 300 and sixty five days-on 300 and sixty five days growth in technicals manufacturing (by quantity) between FY20 and FY21, reaching extra than 75 percent plant working price. It also manufactures herbicide, insecticide and fungicide formulations.

Technicals are essentially exported and income generated from these exports contributed to 56.71 percent of income from operations in FY21. As of March 2021, technicals are exported to over 25 international locations including Australia and utterly different international locations in North and South America, Europe, Asia and Africa.

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Formulations products are essentially sold domestically by plan of its extensive community of sellers and distributors. It has a various buyer inferior that entails slit security product manufacturing corporations, equivalent to, Syngenta Asia Pacific Pte, UPL, Ascenza Agro, S A, Conquest Slash Protection Pty Ltd, Sharda Cropchem and Stotras Pty Ltd.

Anand Swarup Agarwal and the ASA Household Belief are the promoters of the corporate, conserving 46.97 percent pre-offer equity stake in the corporate.

Dhanuka Agritech, Bharat Rasayan, UPL, Rallis India, Rallis India, Atul and Sumitomo Chemical India are its comparable buddies amongst the listed corporations.

Axis Capital, and JM Monetary are the e-book running lead managers to the pronounce.

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