India Pesticides IPO To Open Tomorrow.Here’s Key Things To Know

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India Pesticides IPO To Open Tomorrow.Here's Key Things To Know

India Pesticides initial public offering is open for anchor investors on June 22

India Pesticides’ Rs 800 crore initial public offering (IPO) will open for subscription tomorrow i.e. June 23. The agrochemical technicals company’s share sale will be open for three days, from June 23 to June 25 and shares will be offered in the price band of Rs 290-296 per share. The issue is open for anchor investors on June 22. The shares will be listed on the BSE Sensex and NSE Nifty.

The share sale will comprise a fresh issue of Rs 100 crore and an offer-for-sale (OFS) of Rs 281.4 crore by the promoter Anand Swarup Agarwal and Rs 418.6 crore by shareholders, according to the draft red herring prospectus filed with Sebi.

The company will utilise the IPO proceeds to fund working capital requirements and for general corporate purposes.

Started in 1984, India Pesticides is one of the leading agrochemicals companies in India. It manufactures herbicides, insecticides and fungicide formulations, and active pharmaceutical ingredients. It has two plants at UPSIDC industrial area at Lucknow and Sandila, Hardoi in Uttar Pradesh.

Axis Capital and JM Financial are the book running lead managers to the public offer of India Pesticides, whereas KFin Technologies is the registrar to the issue.

India Pesticides’ listed peers include Dhanuka Agritech, Bharat Rasayan, UPL, Rallis India and PI Industries.

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