Fibe Aims for ₹1,500 Crore IPO, Eyes Billion-Dollar Valuation by 2026...
08 Aug, 2025
Indogulf Cropsciences will open its initial public offering (IPO) between June 26 and June 30, 2025. The company aims to raise around ₹200 crore through a fresh issue of ₹160 crore along with an offer for sale (OFS) of roughly 36 lakh equity shares. As previously announced the IPO shares will also be listed on both BSE and NSE with allotment expected on July 1 and listing scheduled for July 3, 2025.
Indogulf Cropsciences has been in business since 1993 and is part of the agrochemical industry. It focuses on producing plant protection chemicals, plant nutrition products, as well as biological pesticides. The company serves both retail and institutional customers to improve crop productivity. Its product assortment includes diverse formulations like water-dispersible granules, suspension concentrates, capsule suspensions and others in powdered, granular, or liquid forms.
With 17 stock depots and six sales offices supporting them, Indogulf’s distribution network spans over 22 states and three union territories. Additionally, the company operates in more than 34 other countries through 129 foreign business associates. The company’s marketing network includes 169 institutional business partners and 5,772 domestic distributors, which demonstrates a healthy supply chain and market reach.
The IPO is not only an OFS of around 36 lakh shares for ₹40 crore but also involves a fresh equity issuance of ₹160 crore, which will be used to fuel business expansion. Funds from the fresh issue will be directed towards strengthening the company's capital base and fueling growth initiatives. The liquidity provided by the OFS is beneficial to other shareholders too, such as Om Prakash Aggarwal, Sanjay Aggarwal, Anshu Aggarwal and Arnav Aggarwal who are the promoters of the company.
The price band for the IPO has been fixed between ₹105 and ₹111 per share. The minimum lot size is 135 shares, costing around ₹14,985 at the upper price band. The issue allocation is divided among investors with 50% reserved for Qualified Institutional Buyers (QIBs), 35% for retail investors and 15% for Non-Institutional Investors (NIIs). Retail investors can apply for up to 13 lots, while higher lot sizes apply for HNI categories.
Indogulf Cropsciences has shown steady financial growth over recent years. For the fiscal year 2024, the company reported revenue of ₹555.79 crore, slightly up from ₹552.19 crore in 2023. Profit after tax improved to ₹28.23 crore in 2024 from ₹22.42 crore in the previous year. The company maintains a healthy profit margin of around 5%, reflecting operational efficiency in a competitive sector.
The fresh capital raised through the IPO will be utilized to fund working capital requirements, repay debt and invest in capacity expansion and research and development activities. These investments are aimed at enhancing product offerings and increasing market share in the crop protection and agricultural inputs industry.
The initial public offering of Indogulf Cropsciences gives the investors a chance to take part in an expanding agrochemical industry fueled by the rising need for crop protection as well as sustainable agricultural inputs. Given their extensive distribution network, consistent financial results and support from seasoned promoters, the company is poised for further growth. With a balanced mix of fresh issuance and offer for sale in the IPO, alongside a reasonable price range, diverse investor interest when it opens for subscription later this month is highly anticipated.
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