IPO Alert: India Pesticides opens on 23 June 2021

It’s raining IPOs once again in the Indian markets. After the four public issues of last week received strong interest, the IPO buzz of 2021 is set to continue this week. India Pesticides, one of the fastest-growing agrochemical manufacturers in the country, will open for subscription from Wednesday, 23 June 2021. Here is everything you need to know. 

Key details

• Price band: ₹290–296 per share
• Lot size: 50 shares
• IPO size: ₹800 crore
• Fresh issue: ₹100 crore
• Cost per lot: ₹14,800
• Issue opens: 23 June 2021
• Issue closes: 25 June 2021
• Basis of allotment date: 30 June 2021 
• Initiation of refunds: 1 July 2021
• Credit of shares to demat account: 2 July 2021
• Expected listing date: 5 July 2021

About India Pesticides

Incorporated in 1984, Uttar Pradesh-based India Pesticides is one of the fastest-growing agrochemical manufacturers in the country. The company makes agrochemical technicals and formulations. It has also diversified into the production of active pharmaceutical ingredients (APIs) for dermatology products. 

It derives around 78% of its revenue from technicals and the remaining 22% from formulations. The company exports its technicals to more than 25 countries, which contribute 57% of the total revenue.

India Pesticides has a strong track record of revenue generation and profitability during FY19–21. In this period, the revenue and net profit have grown at a CAGR of 38% and 75%, respectively.     

About the issue

Of the ₹800 crore IPO size, the fresh issue accounts ₹100 crore and the remaining ₹700 crore is an offer for sale. The money raised from the fresh issue will be used for working capital requirements and general corporate purposes. 

IPO allocation quota

To know more about the IPO, read its red herring prospectus here. The issue opens on 23 June 2021 and you can subscribe to India Pesticides with Upstox here. Meanwhile, we’ll keep you posted on all the updates about this IPO and the public issues that follow, so stay tuned!