Delhi-based agritech firm Indogulf Cropsciences files with SEBI for ₹200 crore IPO

Indogulf Cropsciences Ltd, a leading manufacturer of crop protection products, plant nutrients, and biologicals, has filed draft papers with the Securities and Exchange Board of India (SEBI) to raise ₹200 crore through an initial public offering (IPO). The IPO will consist of a fresh issue of equity shares worth up to ₹200 crore and an offer for sale of up to 38,54,840 equity shares by existing shareholders, as detailed in the draft red herring prospectus (DRHP).

According to the DRHP, the funds from the fresh issue will be allocated towards various purposes: ₹100 crore for working capital requirements, ₹40 crore for repaying certain outstanding borrowings, ₹14 crore for setting up an in-house dry flowable plant in Haryana, and the remainder for general corporate purposes.

The IPO will be conducted via a book-building process. Up to 50% of the net offer will be allocated to qualified institutional buyers (QIBs), at least 15% to non-institutional investors (NIIs), and a minimum of 35% to retail individual investors (RIIs). The face value of each equity share will be ₹10.

Indogulf Cropsciences, established in 1993, provides comprehensive solutions to both retail and institutional customers to boost crop productivity. The company operates four manufacturing units located in Samba, Jammu and Kashmir, Nathupur-I and II, Haryana, and Barwasni, Haryana. Additionally, it has an extensive sales and distribution network across 22 states and 3 Union Territories in India, as well as in over 34 countries globally.

With this IPO, Indogulf Cropsciences aims to strengthen its financial position, expand its manufacturing capabilities, and enhance its market presence both domestically and internationally.

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