Advance Agrolife IPO subscribed 33% so far on day 1; check price band, lot size and key dates

Advance Agrolife IPO: The initial public offering of Advance Agrolife has been subscribed 33% so far on the first day of bidding on Tuesday, September 30.

The issue has secured bids for 44,36,850 shares as against 1,35,09,004 shares on offer, according to the NSE data until 3:22 pm.

The Jaipur-based company's initial share is solely a fresh issuance of 19,285,720 shares worth ₹192.86 crore without an offer for sale (OFS) component.

The funds raised to the tune of ₹135 crore will be used for working capital requirements and the remainder for general corporate purposes.

Advance Agrolife IPO: Price band and lot size

The price band has been set at ₹95 to ₹100 per share. Retail investors can apply for a minimum of 150 shares.

Advance Agrolife IPO timeline: Allotment and listing dates

Before the IPO, the company raised ₹57.76 crore from anchor investors such as Wealthwave Capital Trust, Meru Investment Fund, Aidos India Fund, Pine Oak Global Fund, Astrone Capital, Santosh Industries, Sunrise Investment Trust, Shine Star Build-Cap and Venus Investments.

Choice Capital Advisors is the IPO's lone book-running lead manager, while KFin Technologies serves as the registrar.

Advance Agrolife manufactures an array of agrochemical products used during the entire lifecycle of crops. Its product portfolio includes insecticides, fungicides, herbicides, and plant growth regulators. It also makes other agrochemical products like biofertilisers and micronutrient fertilisers.

The company's revenue from operations stood at ₹502.26 crore and profit after tax at ₹25.63 crore in FY25.

Advance Agrolife IPO gmp

According to investorgain.com and media reports, Advance Agrolife's unlisted shares are trading at ₹115 per share, reflecting a grey market premium of 15% over the upper price band of ₹100.