Indogulf Cropsciences IPO
Bookbuilding IPO | ₹200.00 Cr | Listing at BSE, NSE
IPO Open
Thu, Jun 26, 2025
IPO Close
Mon, Jun 30, 2025
Price Band
₹105.00 to ₹111.00
Market Cap (Pre-IPO)
₹701.54 Cr
IPO Details
| IPO Date | Jun 26, 2025 to Jun 30, 2025 |
| Listing Date | Tentative: Jul 03, 2025 |
| Face Value | ₹10.00 per share |
| Price Band | ₹105.00 to ₹111.00 |
| Lot Size | 135 Shares (Minimum: ₹14,985.00) |
| Sale Type | Offer For Sale + Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹200.00 Crores |
| Total Shares Offered | 18,040,144 shares |
| Fresh Issue | 1,443,654 shares |
| Offer For Sale | 3,603,603 shares |
Subscription Data
| Category | Times Subscribed |
|---|---|
| QIB | 31.73x |
| NII | 49.06x |
| RII | 14.97x |
| Total | 27.17x |
Indogulf Cropsciences IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 87,38,737 (48.34%) |
| Retail Shares Offered | 61,17,117 (33.84%) |
| NII Shares Offered | 26,21,622 (14.50%) |
Indogulf Cropsciences IPO Lot Size
Investors can bid for a minimum of 135 shares and in multiples thereof
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 135 | ₹14,985 |
| Retail (Max) | 13 | 1,755 | ₹194,805 |
| S-HNI (Min) | 14 | 1,890 | ₹209,790 |
| S-HNI (Max) | 66 | 8,910 | ₹989,010 |
| B-HNI (Min) | 67 | 9,045 | ₹1,003,995 |
Indogulf Cropsciences Financial Information (Restated Consolidated)
| Period Ended | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 597.81 | 542.25 | 517.51 | 413.59 |
| Total Income | 466.31 | 555.79 | 552.19 | 490.23 |
| Profit After Tax | 21.68 | 28.23 | 22.42 | 26.36 |
| EBITDA | 44.78 | 55.74 | 49.04 | 47.24 |
| NET Worth | 265.43 | 231.65 | 203.25 | 180.51 |
| Reserves and Surplus | 216.64 | 208.01 | 179.60 | 156.87 |
| Total Borrowing | 206.30 | 154.56 | 189.22 | 101.38 |
Amount in ₹ Cr
Key Performance Indicators
As of Sunday, March 31, 2024| KPI | Values |
|---|---|
| ROE (Return on Equity) | 12.20% |
| ROCE (Return on Capital Employed) | 11.93% |
| Debt/Equity | 0.67 |
| RoNW (Return on Net Worth) | 12.19% |
| PAT Margin (Profit After Tax Margin) | 5.11% |
| EBITDA Margin | 10.09% |
| Price to Book Value | 1.13 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 5.79 | 4.57 |
| P/E (x) | 19.18 | 24.27 |
| Promoter Holding | 96.86% | 68.00% |
Company Promoters
- Om Prakash Aggarwal
- Sanjay Aggarwal
- Anshu Aggarwal and Arnav Aggarwal are the promoters of the company.
Company Overview
Incorporated in 1993, Indogulf Cropsciences Limited is engaged in manufacturing crop protection products, plant nutrients, and biologicals in India.
The company manufactured Spiromesifen technical with 96.5% purity in 2019 and is one of the first indigenous manufacturers of Pyrazosulfuron Ethyl technical with 97% purity in India.
The company operates four manufacturing facilities in Samba (Jammu & Kashmir) and Nathupur (Haryana), covering approximately twenty acres, including two sites in Nathupur and one in Barwasni, Haryana.
The company has a sales network across 22 states and 3 Union Territories in India, with 169 business partners, 5,772 distributors, and 129 partners in 34 countries worldwide.
The company’s flexible, multi-purpose facilities allow diverse product manufacturing, adapting to customer needs. Its competitive advantage is strengthened by high regulatory barriers in the agrochemical industry, including costs and complex approvals.
Product Portfolio:
- Plant Nutrients: The company manufactures specialty fertilizers, bio-simulants, and performance products, including straight fertilizers and soil health products, to enhance soil fertility, stimulate root growth, and improve crop yields.
- Crop Protection Products: The company manufactures crop protection products, including insecticides, fungicides, herbicides, and bio-stimulants, designed to safeguard crops from pests, diseases, and weeds, ensuring healthy growth and productivity.
- Biologicals: The company offers biological products, including bio-stimulants and bio-fertilizers, to improve crop growth, nutrient uptake, stress tolerance, and overall sustainability, with products like Biogold, Indo Breeza, and Indo Mychoriza.
As of August 31, 2024, the company had 640 permanent employees.
Company Strengths
- Diversified product portfolio and specialized products across all three verticals.
- Established distribution network in India and abroad.
- Backward integrated manufacturing infrastructure.
- Strong R&D and product development capabilities.
- Experienced Promoters and a strong management team.
Use of Proceeds
| 1) | Funding working capital requirements of the Company | 65.00 |
| 2) | Repayment/ prepayment, in full or in part, of certain outstanding borrowings availed by the Company | 34.12 |
| 3) | Capital expenditure of the Company for setting up an in-house dry flowable (DF) plant at Barwasni, District Sonipat, Haryana | 14.00 |
| 4) | General corporate purposes | 27.85 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Indogulf Cropsciences IPO Peer Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Indogulf Cropsciences Limited | 12.00 | 11.94 | 97.98 | - | 12.19 | - | Consolidated |
| Aries Agro Ltd. | 14.94 | 14.94 | 200.20 | 17.47 | 7.07 | 1.21 | Consolidated |
| Basant Agro Tech (india) Ltd. | 0.43 | 0.43 | 19.22 | 44.58 | 2.27 | 0.95 | Consolidated |
| Best Agrolife Limited | 44.94 | 44.94 | 273.64 | 12.23 | 16.42 | - | Consolidated |
| Bhagiradha Chemicals & Industries Ltd. | 17.50 | 16.10 | 397.59 | 101.81 | 4.40 | 4.06 | Consolidated |
| Heranba Industries Limited | 8.72 | 8.72 | 213.19 | 35.34 | 4.04 | 1.33 | Consolidated |
| India Pesticides Limited | 5.24 | 5.24 | 7.17 | 41.62 | 72.90 | 213.43 | Consolidated |
| Dharmaj Crop Guard Limited | 13.13 | 13.13 | 106.33 | 18.02 | 12.35 | 2.10 | Consolidated |
Quick Info
| Sector | Agrochemicals/Pesticides |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹701.54 Cr |
| GMP | 0.00 |
Important Dates
| IPO Open | Jun 26, 2025 |
| IPO Close | Jun 30, 2025 |
| Allotment Date | Jul 01, 2025 |
| Credit to Demat | Jul 02, 2025 |
| Listing Date | Tentative: Jul 03, 2025 |
Lead Manager(s)
Systematix Corporate Services Ltd.
Registrar
Bigshare Services Pvt.Ltd.
+91-22-6263 8200
Description
- Indogulf Cropsciences IPO is a book build issue of ₹200.00 crores. The issue is a combination of fresh issue of 1.44 crore shares aggregating to ₹160.05 crores and offer for sale of 0.36 crore shares aggregating to ₹39.95 crores.
- Indogulf Cropsciences IPO bidding started from Jun 26, 2025 and ended on Jun 30, 2025. The allotment for Indogulf Cropsciences IPO was finalized on Jul 1, 2025. The shares got listed on BSE, NSE on Jul 3, 2025.
- Indogulf Cropsciences IPO price band is set at ₹111.00 per share . The lot size for an application is 135. The minimum amount of investment required by an retail is ₹14,985 (135 shares) (based on upper price). The lot size investment for sNII is 14 lots (1,890 shares), amounting to ₹2,09,790, and for bNII, it is 67 lots (9,045 shares), amounting to ₹10,03,995.
- The issue includes a reservation of up to 6,00,000 shares for employees offered at a discount of ₹11.00 to the issue price