India Pesticides mobilises Rs 240 crore from 16 anchor traders, earlier than IPO

Amongst the domestic traders, SBI Mutual Fund, Nippon Mutual Fund, Bajaj Allianz Lifestyles Insurance coverage, and Bharti Axa Lifestyles Insurance coverage also picked up stake in the firm.

June 22, 2021 / 10: 23 PM IST

Agrochemical firm India Pesticides has raised Rs 240 crore from 16 anchor traders on June 22, a day earlier than IPO opening.

The firm informed exchanges that it has finalised allocation of 81,08,107 equity shares to anchor traders including FPIs, mutual funds, and insurance companies, at a heed of Rs 296 per fragment.

Foreign portfolio traders which participated in the anchor book were Abu Dhabi Funding Authority (ADIA), Integrated Core Ideas, Tara Rising Asia, and BNP Paribas.

Amongst the domestic traders, SBI Mutual Fund, Nippon Mutual Fund, Bajaj Allianz Lifestyles Insurance coverage, and Bharti Axa Lifestyles Insurance coverage also picked up stake in the firm.

Additionally read - India Pesticides IPO: 10 things to perceive earlier than subscribing the mission

India Pesticides is the sole real Indian manufacturer of 5 Technicals and amongst the leading manufacturers globally for Captan, Folpet and Thiocarbamate Herbicide, in relation to production capacity.

The firm presently operates two manufacturing services and products having an combination capacity of 19,500 MT for Technicals and 6,500 MT for the Formulations vertical.

Additionally readIndia Pesticides IPO: Shares trades at 34% top payment in grey market

The Rs 800-crore public mission will originate for subscription on June 23 and will end on June 25. The offer contains a modern mission of Rs 100 crore, and a proposal on the market of Rs 700 crore by the promoting shareholders. The firm will utilise net proceeds from modern mission for working capital requirements and for overall company functions.

To Know All IPO Connected Recordsdata, Click Right here

Axis Capital and JM Monetary are the book working lead managers to the offer.

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