Indogulf Cropsciences Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹111
Per ShareLot Size
135 Shares
Minimum Investment
₹14,985
Issue Size
₹200 Cr
Face Value
₹10
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Indogulf Cropsciences Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
96.86%
Promoter Holding (Post-Issue)
71.51%
Issue Type
Book Building
ISIN
INE05J901018
About the Company
The Company is engaged in the business of manufacturing of crop protection products, plant nutrients and biologicals in India. It manufactures Spiromesifen technical with the minimum purity of 96.5% in 2019. We are also one of the first few indigenous manufacturers of Pyrazosulfuron Ethyl technical, with the minimum purity of 97% indigenously in India and commenced production in 2018. The Company is also a growing exporter of crop protection, plant nutrients and biologicals products and the company exported its products to over 34 countries. The company has been recognised as a `Two Star Export House' by Government of India.
Industry Overview
The global pesticide industry is dominated by the herbicides segment followed by the fungicides and insecticides segments. Of the global market size of around USD 69,044 million, herbicides accounts for nearly half of the crop protection industry globally, however it is on the lower side for India which is around 17% of the total consumption. Apart from the crop market, another segment that has contributed to the global pesticides market includes the non-crop market. This segment had a market size of about USD 11 billion in 2023. These pesticides find their application in homes & gardens, turfs & ornamentals, pest control operations, industrial vegetation management, forestry, public health, and aquatic, among others. They are used for control of weeds, diseases, insects, and other pests. Also, they are used for plant growth regulation. With the expected increase in the application of these pesticides on account of the benefits offered by them, the crop market is estimated to grow at a faster CAGR compared to that of global non-crop. Accordingly, the global non-crop market is expected to rise at a CAGR of about 4.1%-5% by 2028 and is estimated to reach the level of approximately USD 14 billion.
Company History
Indogulf Cropsciences Limited was originally incorporated as "Jai Shree Rasayan Udyog Limited", a public limited company, under the provisions of the Companies Act, 1956, pursuant to a certificate of incorporation dated January 22, 1993, issued by the Additional Registrar of Companies, Delhi and Haryana, and was granted a certificate of commencement of business dated February 16, 1993 by the Registrar of Companies, Delhi and Haryana. Thereafter, the name of the Company was changed to "Indogulf Cropsciences Limited" pursuant to a Board resolution dated March 19, 2015, and a special resolution passed by our Shareholders at the extraordinary general meeting dated April 2, 2015. A fresh certificate of incorporation dated April 28, 2015 was issued by the Registrar of Companies, Delhi and Haryana.
Products & Services
- The Company is engaged in the business of manufacturing of crop protection products, plant nutrients and biologicals in India.
Growth Strategy
- Expand its existing production capacities to facilitate cost efficiency.
- Grow its product portfolio across all three verticals.
- Further strengthen its existing R&D capabilities.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY23 to FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of 18,077,476 equity shares of face value of Rs. 10/- each ("Equity Shares") of Indogulf Cropsciences Limited ("Company" or "Issuer") for cash at a price of Rs. 111/-# per equity share (Including a Share Premium of Rs. 101/-# per Equity Share) ("Offer Price") aggregating to Rs.200.00 crores# (the "Offer") comprising a fresh issue of 14,473,873 equity shares of face value of Rs. 10/- each aggregating to Rs. 160.00 crores# by the company ("Fresh Issue") and an offer for sale of to 3,603,603 equity shares aggregating to Rs.40.00 crores* ("Offered Shares") by the promoter group selling shareholders ("Offer for Sale", and together with Fresh Issue, the "Offer"), comprising to 1,540,960 equity shares aggregating to Rs. 17.11 crores by Om Prakash Aggarwal (HUF) and to 2,062,643 equity shares aggregating to Rs. 22.90 crores by Sanjay Aggarwal (HUF) ("Promoter group selling shareholders"). The offer will constitute 28.58% of the post-offer paid up equity share capital of the company. The offer includes a reservation of 600,000 equity shares of face value Rs.10/- each, aggregating to Rs. 6.00 crores# (Constituting up to 0.95% of the post-offer paid-up equity share capital, for subscription by eligible employees ("Employee Reservation Portion"). The offer less the employee Reservation portion is hereinafter referred to as the "Net Offer". the company in consultation with the brlm have offered a discount of Rs. 11/- per equity share to the offer price (equivalent of 10% per equity share) to eligible employees bidding in the employee reservation portion ("Employee Discount"). The offer and the net offer constitutes 28.58% and 27.63%, respectively, of the post-offer paid-up equity share capital of the company. The face value of the equity shares is Rs. 10/- each. the offer price is 11.10# times the face value of the equity shares. # A discount of Rs. 11.00 per equity share was offered to eligible employees bidding in the employee reservation portion.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- 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.
- The company is subject to regular inspections and audits, and the success and wide acceptability of its products is largely dependent upon the company quality controls and standards. Any failures to comply with quality standards may adversely affect its business prospects and financial performance, including cancellation of existing and future orders which may expose it to warranty claims.
- The value of its brands may be diluted if there is a change in the brand name for a known product, quality concern, negative publicity which could adversely affect its business, financial condition and results of operations.
- Its historical cumulative average growth rate ("CAGR") in Revenue from Operations, EBITDA and PAT, may not be indicative of its future performance.
- Under-utilization of its manufacturing capacities and an inability to effectively utilize the company expanded manufacturing capacities could have an adverse effect on its business, future prospects and future financial performance.
- Its inability to collect receivables and default in payment from the company customers could result in the reduction of its profits and affect the company cash flows.