Skip to main content
  1. Home
    /
  2. IPO
    /
  3. Indogulf Cropsciences IPO
Indogulf Cropsciences IPO
25.43xsubscribed

Indogulf Cropsciences IPO

Chemicals
listed
₹14,175Min. investment

Indogulf Cropsciences Limited IPO Details

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 8 - Mar 9
₹552.23CrLower than sector avg
Growth rate3Y CAGR
6.46%

Indogulf Cropsciences 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

As on 26-Jun-25, 5:30 PM

Indogulf Cropsciences IPO Timeline

  1. Pre-apply
    25 Jun 2025
  2. Bid start
    26 Jun 2025
  3. Bid end
    30 Jun 2025
  4. Allotment
    1 Jul 2025
  5. Release of funds
    2 Jul 2025
  6. Demat transfer
    2 Jul 2025
  7. Listing
    3 Jul 2025

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.

Indogulf Cropsciences Limited IPO Analysis

IPO REVIEW

Indogulf Cropsciences IPO | Analysis Video

Should you apply?

Watch our analysts break down the Indogulf Cropsciences Limited IPO — business model, financials, valuation and key risks — to help you decide whether to apply. The video covers the IPO price band, important dates, and what the subscription numbers mean for retail investors.

Checklist

Quality analysis
Revenue growth
Company valuation
Earnings expansion
Risk analysis
Debt to Equity ratio
Promoter holdings
Shares pledged
The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily

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.

Objectives of Indogulf Cropsciences Limited IPO

Working capital requirements
40.63%
The company will use ₹65 crore towards the working capital requirement of the company.
General corporate purposes
29.30%
Part of the IPO proceeds will be used for general corporate purposes and strategic initiatives.
Repayment of borrowings
21.31%
The company will use ₹34.10 crore to repay borrowings
Capital expenditure
8.75%
The company will use ₹14 crore to set up an in-house dry flowable (DF) plant at Barwasni, Haryana.

Compare

CompanyRevenue*3Y growthPATMarket capP/E ratioD/E ratio
This IPO₹552.23Cr6.46%₹28.23Cr₹701.54Cr19.180.78
This sector (avg.)₹778.53Cr0%₹63.39Cr₹4,831.31Cr115.610.47
₹13,140.31Cr---₹2,096.17Cr₹1,45,645.1Cr65.540.05
₹7,540.26Cr---₹1,287.93Cr₹1,21,980.6Cr92.360.22
₹14,693.07Cr---₹1,250.78Cr₹83,482.13Cr46.920.37

*Revenue for financial year 8-9. Lower P/E and D/E ratios are generally preferred.

Indogulf Cropsciences IPO Contact Details

Company NameIndogulf Cropsciences Limited

How to apply for Indogulf Cropsciences IPO?

  1. Step 1

    Log in to your Upstox account to access IPO investments. Next, select the current IPO section.

  2. Step 2

    Specify IPO details. Enter the number of lots and the price you wish to apply for.

  3. Step 3

    Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.

  4. Step 4

    Mandate Notification. Your UPI app will receive a mandate notification to block funds.

  5. Step 5

    Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.

Indogulf Cropsciences Limited IPO FAQs

Investors can apply for the Indogulf Cropsciences IPO through their Demat account via the stock exchange or through their broker.
The issue size of the Indogulf Cropsciences IPO is 200 Cr.
Pre-applying for an IPO allows you to submit your application before the official subscription period begins.
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.
Indogulf Cropsciences IPO will be open between 2025-06-26 and 2025-06-30.
Indogulf Cropsciences IPO allotment date is 2025-07-02. For Indogulf Cropsciences IPO allotment status check, you can visit the website of the registrar of the IPO.
For Indogulf Cropsciences IPO, the IPO registrar is Bigshare Services Pvt Ltd. You can check Indogulf Cropsciences IPO allotment status on the website of the registrar.
The shares are proposed to be listed on the BSE and NSE.
The Indogulf Cropsciences IPO shares will typically be credited to your demat account one working day before the IPO's listing date, provided your application is successfully allotted.
The Indogulf Cropsciences IPO lot size is 135 and minimum order quantity is 135.
Indogulf Cropsciences IPO has set the price band for its IPO at 111 per equity share with a face value of 10.