Advance Agrolife share price: Stock lists at 14% premium on NSE; here's how much investors made per lot

The stock listed at ₹114 apiece on the National Stock Exchange (NSE), reflecting a premium of 14% over the IPO issue price of ₹100 per share.

On the BSE, it started trading at ₹113, up 13% from the issue price.

Advance Agrolife IPO share price: Here's how much investors gained per lot

The ₹192.86 crore initial public offering of the Jaipur-based company was only a fresh issuance of 1.93 crore equity shares. There was no offer for sale component. It had set a price band of ₹95 to ₹100 per share

The funds raised will be utilised for funding working capital requirements and corporate general purposes.

The initial public offer got subscribed 56.85 times during the three-day bidding window. It secured bids for 76,80,36,900 shares compared to 1,35,09,004 shares on offer, as per the consolidated data on the stock exchanges.

The category for non-institutional investors (NIIs) received 175.30 times subscription. The quota for qualified institutional buyers (QIBs) got 27.31 times subscription, while the retail investors' portion got subscribed 23.06 times.

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

Advance Agrolife makes agrochemical products that are used during the entire lifecycle of crops. Its products include fungicides, herbicides, insecticides and plant growth regulators.

Advance Agrolife financials