Indogulf Cropsciences IPO subscribed 26 times on Final Day
The Initial Public Offering of Indogulf Cropsciences Limited was subscribed 25.98 times on the final day of bidding.
The issue received bids of 34,72,66,170 shares against the offered 1,33,65,710 equity shares, at a price band of ₹105-111, according to the data available on the stock exchanges.
Non-Institutional Investors Portion and Qualified Institutional Buyer Portion and were subscribed 48.39 times and 33.26 times respectively, whereas Retail Portion and Employee Portion was subscribed 14.78 times and 1.09 times respectively.
Systematix Corporate Services Limited is the sole book-running lead manager, and Bigshare Services Private Limited is the registrar of the issue.
Company Information
Indogulf Cropsciences commenced its operations in 1993 and primarily operate under three business verticals namely crop protection, plant nutrients and biologicals, to retail and institutional customers focused on improving the crop yield. It is engaged in the business of manufacturing of crop protection products, plant nutrients and biologicals in India.
It is 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. It is recognized as a ‘Two Star Export House’ and a growing exporter of crop protection, plant nutrients and biologicals products and it exported its products to over 34 countries. (Source: CareEdge Report)
It manufacture and market extensive range of products in all types of available formulations such as water dispersible granules (“WDG”), suspension concentrate (“SC”), capsule suspension (“CS”), ultra- low volume (“ULV”), emulsion in water (“EW”), soluble granule (“SG”), flowable suspension (“FS”), etc. which can be in powder, granules and liquid form and catering to a broad spectrum of crops, including cereals, pulses and oilseeds, fibre crops, plantations, and fruits and vegetables.
The company's key customers include Krishi Rasayan Exports Private Limited, Delhi, Parijat Industries (India) Private Limited, Delhi, BR Agrotech Private Limited, Delhi, Crystal Crop Protection Limited, Delhi, and Asasiat of Development for Agric & Trade Co., UAE. It has also established long-term relationships with suppliers namely Coromandel International Limited, GSP Crop Science Private Limited, Gujarat, Dagro Chemical (Changzhou) Co. Ltd., China, Hubei Benxing Supply Chain Management Co. Ltd, China, and MaxxGro Agrology Private Limited, Delhi.
Presently it operates four manufacturing facilities located in Samba, Jammu and Kashmir; Nathupur - I, Haryana; Nathupur - II, Haryana; and Barwasni, Haryana. It also has two Subsidiaries, Indogulf Cropsciences Australia Pty Ltd located in Sydney, Australia and Abhiprakash Globus Private Limited located in Delhi, India.
It has a presence across 22 states and 3 Union Territories in India and over 34 countries outside India. As on April 30, 2025, it has a network of 192 institutional business partners (b2b), 6,916 working domestic distributors (b2c), supported by 17 stock depots and 6 sales/branch offices and 143 overseas business partners in over 34 countries.
The table below shows subscription data for all the categories of investors:
Indogulf Cropsciences Limited Last updated on 30 Jun 2025 | 05:18:00 PM | ||||
Sr.No. | Category | No.of shares offered / reserved | No. of shares bid for | No. of times of total meant for the category |
1 | Qualified Institutional Buyers (QIBs) | 35,92,277 | 11,94,79,455 | 33.26 |
1(a) | Foreign Institutional Investors (FIIs) | - | 29,48,400 | - |
1(b) | Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) | - | 8,39,89,440 | - |
1(c) | Mutual Funds | - | - | - |
1(D) | Others | - | 3,25,41,615 | - |
2 | Non Institutional Investors(NIIS) | 27,40,541 | 13,26,08,745 | 48.39 |
2.1 | Non Institutional Investors(Bid amount of more than Ten Lakh Rupees) | 18,27,028 | 9,39,28,140 | 51.41 |
2.1(a) | Corporates | - | 15,05,790 | - |
2.1(b) | Individuals (Other than RIIs) | - | 8,80,66,980 | - |
2.1(c) | Others | - | 43,55,370 | - |
2.2 | Non Institutional Investors(Bid amount of more than Two Lakh Rupees and upto 10 lakh rupees) | 9,13,513 | 3,86,80,605 | 42.34 |
2.2(a) | Corporates | - | 2,16,000 | - |
2.2(b) | Individuals (Other than RIIs) | - | 3,67,28,775 | - |
2.2(c) | Others | - | 17,35,830 | - |
3 | Retail Individual Investors (RIIs) | 63,94,595 | 9,44,84,745 | 14.78 |
3(a) | Cut Off | - | 8,26,47,000 | - |
3(b) | Price Bids | - | 1,18,37,745 | - |
4 | Employee Reserved | 6,38,297 | 6,93,225 | 1.09 |
4(a) | Employee (Cut off) | - | 5,60,520 | - |
4(b) | Employee (Price) | - | 1,32,705 | - |
5 | Reservation PortionShareholder | - | - | - |
5(a) | RPS (Cut off) | - | - | - |
5(b) | RPS (Price) | - | - | - |
Total | 1,33,65,710 | 34,72,66,170 | 25.98 | |
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