India Pesticides Limited, one of the world's largest agrochemical manufacturers, has been in operation since 1984. In terms of volume, it is among India's fastest-growing agrochemical companies in Fiscal 2020. India Pesticides are also the only Indian manufacturer of some technicals, such as Folpet and Thiocarbamate Herbicide, and are among the top five manufacturers worldwide.
The India Pesticides Initial Public Offering (IPO) will begin on June 23, 2021, and end on June 25, 2021. The issue could be released on July 5, 2021. After raising Rs 240 crore from anchor investors on June 22, the IPO size was decreased by 81,08,107 equity shares to 1.93 crore equity shares.
On June 23, 2021, at 2.28 pm IST, the India Pesticides IPO was subscribed 0.82x times. The retail category received 1.61x subscriptions, 0.00x in the QIB category, and 0.07x in the NII category.
Technicals, which are primarily exported to more than 20 countries, including Australia, Asia, Africa, and Europe, accounted for 62% of technical segment revenues in Fiscal 2020.
India Pesticides IPO Details
The market lot size for the India Pesticides IPO is 50 shares. An individual retail investor can apply for up to 13 lots (650 shares or Rs 192,400). The company has set a price range for the public offering of Rs 290 to Rs 296. The allotment of shares will be completed on June 30, 2021. Because IPO bidders must apply in lots, each bidder must apply for at least one lot, which equals 50 stocks, resulting in a minimum investment of Rs 14,800 ( 296 x 50).
|IPO Opening Date||Jun 23, 2021|
|IPO Closing Date||IPO Closing Date|
|Issue Type||Book Built Issue IPO|
|Face Value||Rs 1 per equity share|
|IPO Price||₹290 to ₹296 per equity share|
|Market Lot||50 Shares|
|Issue Size||up to ₹800.00 Cr|
|Fresh Issue||up to ₹100.00 Cr|
|Offer for Sale||up to ₹700.00 Cr|
India Pesticides in Grey Market
According to traders engaged in the unlisted market, the company is trading at a slight premium to the IPO price band of Rs 50 per share, which is approximately half of what it was two days ago. This implies a 17% grey market premium, a metric investors use to assess potential listing gains.
India Pesticides Performance
On every level, the company's financial performance has been outstanding.
While its revenue and EBITDA grew at a 37 percent and 48 percent CAGR, respectively, from FY18 to FY21, its net profit grew at a phenomenal 60 percent CAGR.
|Particulars||31-Mar-21( in millions)||31-Mar-20( in millions)|
|Profit After Tax||1,345.32||707.99|