Indogulf Cropsciences IPO

25.43x

subscribed

Indogulf Cropsciences IPO

Chemicals
listed
₹14,175Min. investment
  1. Pre-apply
    25 Jun
  2. Bid start
    26 Jun
  3. Bid end
    30 Jun
  4. Allotment
    1 Jul
  5. Release of funds
    2 Jul
  6. Demat transfer
    2 Jul
  7. Listing
    3 Jul

About Indogulf Cropsciences Limited

SectorChemicals
Price range₹105 – ₹111
IPO type
Regular
Lot size135 shares
Issue size₹200Cr
Red Herring Prospectus
Read
Market Cap
₹701.54CrLower than sector avg
RevenueApr 2024 - Mar 2025
₹552.23CrLower than sector avg
Growth rate3Y CAGR
6.46%

Indogulf Cropsciences Limited IPO Overview

Indogulf Cropsciences Limited IPO Date

Indogulf Cropsciences IPO will open for subscription on June 26, 2025, and the closing date for the IPO is June 30, 2025. After this, investors are expected to be updated about the allotment status on Tuesday, July 1, 2025. Investors who have been allotted shares can expect them to be credited to their demat account on July 2, 2025. The shares will be listed on the NSE and the BSE on Thursday, July 3, 2025.

Indogulf Cropsciences Limited IPO Price Band

The IPO is a combination of a fresh issue of shares and an offer for sale. The IPO price band has been set between ₹105 to ₹111 per share. Interested investors can choose a price within this band to apply for the IPO.

The IPO is a book-building issue, comprising a fresh issue of ₹160 crore and an offer for sale of ₹ 40 crore.

The Indogulf Cropsciences IPO listing price will be determined on July 3, 2025. The listing price is the price at which a company’s shares debut on the stock exchanges.

Indogulf Cropsciences Limited IPO Lot Size

The Indogulf Cropsciences IPO details have been declared. The minimum lot size for an application is 135 shares, and the investor would have to apply for a minimum of 1 lot. Meanwhile, the IPO issue size is approximately ₹200 crore.

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Revenue
Higher revenue means strong sales and good market demand
This IPO
₹552.23Cr
This sector
₹778.53Cr
Compare with companies
PAT
Higher PAT means strong profitability and efficient cost management
This IPO
₹28.23Cr
This sector
₹63.39Cr
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Market cap
Higher market cap means strong confidence but may suggest overvaluation
This IPO
₹701.54Cr
This sector
₹4,831.31Cr
Compare with companies
P/E ratio
Lower ratio usually means stock is undervalued
This IPO
19.18
This sector
115.61
Compare with companies
D/E ratio
Lower ratio usually means fewer liabilities
This IPO
0.78
This sector
0.47
Compare with companies

Objectives

Working capital requirements
40.63%
General corporate purposes
29.30%
Repayment of borrowings
21.31%
Capital expenditure
8.75%

Strength and Weakness

Diversified product portfolio

The company offers 262 products across crop protection, plant nutrients, and biologicals as of Dec 31, 2024, up from 198 in FY22. This diversified mix reduces product concentration risk and enables stable revenues across seasons and geographies.

Widespread distribution network

With 6,916 working domestic distributors (B2C), 192 institutional B2B partners, and 143 overseas partners across 34 countries, the company has a strong distribution backbone. This broad reach enhances market penetration and export scalability.

Manufacturing excellence with scale

Operating 4 ISO-certified facilities across ~20 acres, the company benefits from flexible, multipurpose plants capable of handling diverse formulations. The company has manufactured 285 registered products, and it holds 979 total product registrations. It has 138 products in the pipeline for registration domestically and overseas, and 17 products under manufacturing.

Strong IP and innovation capabilities

Indogulf holds 225 trademarks, 8 copyrights, 6 design registrations for logo and branded products, and 6 product patents (with 2 pending), backed by an NABL-certified R&D lab. These assets enhance brand value, drive innovation, and strengthen competitive positioning.

About Indogulf Cropsciences Limited

Incorporated in 1993, Indogulf Cropsciences is one of the leading manufacturers of crop protection products, plant nutrients and biologicals, which help improve crop yield. The company sells its diverse product range in powder, granules and liquid form to its retail and institutional customers.
Indogulf Cropsciences has successfully expanded its product portfolio from 198 products in FY22 to 262 products as of December 31, 2024, spanning across three business verticals, namely crop protection, plant nutrients and biologicals.
The company has established itself as a significant exporter with products reaching over 34 countries and has been recognised as a 'Two Star Export House' by the Government of India. The company maintains 143 overseas business partners.
It operates an extensive domestic distribution network comprising 192 institutional business partners (B2B) and 6,916 working domestic distributors (B2C), supported by 17 stock depots and 6 sales/branch offices across 22 states and 3 Union territories in India.
The company operates four ISO 9001:2015 and ISO 14001:2015 certified manufacturing facilities located across Jammu & Kashmir and Haryana, spread over approximately 20 acres. It holds 225 trademarks, 8 copyrights, and 6 design registrations for its logo and branded products. Additionally, the company has 3 packaging patents that enhance product quality, safety, and sustainability.
The company has built enduring relationships with major domestic and international brands over three decades of operations, including key customers such as Krishi Rasayan Exports, Parijat Industries, BR Agrotech, and Crystal Crop Protection.
India holds 14% of the global crop protection market and is among the top five global producers of agrochemicals, which benefits the domestic companies operating in the segment. The demand for crop protection chemicals is projected to grow significantly from 61,097 tonnes in FY20 to 89,170 tonnes by FY36, representing substantial market expansion opportunities. The global crop protection and nutrition market is expected to grow at a CAGR of 6.3% during 2024-2029, with the Asia-Pacific region holding the maximum market share at 42%.
The 2024 monsoon delivered 1,207 mm of rainfall, which is above the long-period average of 868.6 mm, supporting robust kharif crop sowing and water reservoir replenishment. Normal-to-positive Indian Ocean Dipole conditions and the absence of strong El Niño signals suggest continued favourable weather patterns. These conditions are expected to increase demand for agrochemicals and crop protection solutions, as warm and humid environments are conducive to pest proliferation, driving growth in pesticide, fungicide, and herbicide segments.
The company plans to establish a dry flowable plant at its 16-acre leasehold facility in Barwasni, Haryana, which will manufacture various formulations across all three business segments. This expansion will enhance operational efficiency, market competitiveness, and business sustainability while leveraging economies of scale to reduce production costs. With 979 total product registrations across domestic and international markets and 138 products in the pipeline for registration, the company is well-positioned to capitalise on its established regulatory expertise.
Now, Indogulf Cropsciences Limited is launching its initial public offering (IPO), which consists of a fresh issue of equity shares worth up to ₹160 crore and an offer for sale worth up to ₹40 crore. The total issue size of the IPO is ₹200 crore. Its shares will be listed on the NSE and BSE.

IPO Analysis

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IPO REVIEW
Indogulf Cropsciences IPO
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IPO Subscription Status

Date
QIB
NII
Retail
Total
26-Jun-25
0.05 times (X)
0.27 times (X)
0.7 times (X)
0.42 times (X)
27-Jun-25
0.05X
0.84X
1.56X
0.98X
30-Jun-25
29.86X
47.59X
13.44X
25.43X
26-Jun-25
0.0X
0.04X
0.17X
0.09X

Frequently asked questions

How to invest in the IPO?

Investors can apply for the IPO through their Demat account via the stock exchange or through their broker.

What is the issue size of Indogulf Cropsciences IPO ?

The issue size of the Indogulf Cropsciences IPO is 200 Cr.

What is 'pre-apply' for Indogulf Cropsciences IPO ?

Pre-applying for an IPO allows you to submit your application before the official subscription period begins.

Which exchanges will Indogulf Cropsciences IPO shares list on?

The IPO shares will typically list on major stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), as specified in the IPO prospectus.