India Pesticides Limited IPO Detail
Incorporated in 1984, India Pesticides Limited (IPL) is one of the leading agrochemicals manufacturers in India. The company operates in two business verticals; 1 Technicals and 2. Formulations. It manufactures herbicide, fungicide Technicals, and Active Pharmaceuticals Ingredients (APIs). It is the sole Indian manufacturer of several Technicals i.e. Folpet, Thiocarbamate, and Herbicide. The company also manufactures 30+ formulations of insecticides, fungicides, and herbicides.
Its Technicals are majorly exported to 20+ countries including Australia, Asia, Africa, and European countries, contributed 62% of technical segment revenues in Fiscal 2020. However, agrochemical formulations are primarily sold to domestic crop protection manufacturers i.e. Syngentia Asia Pte Ltd, UPL Ltd, ASCENZA AGRO, S.A., Conquest Crop Protection Pty Ltd, Sharda Cropchem Limited, and Stotras Pty Ltd.
Currently, the firm has two manufacturing plants UPSIDC Industrial Area at Dewa Road, Lucknow and Sandila, Hardoi in Uttar Pradesh, India with an installed capacity of 19,500 MT for agrochemicals and 6500 MT for formulations.
Competitive strengths
- Among the top 5 global players of Folpet, Thiocarbamate, and Herbicide Technicals.
- Diversified product portfolio with specialized products.
- Domestic as well as international market presence.
- Consistent track record of financial performance.
- Strong Research & Development (R&D) capabilities.
Company Promoters
Anand Swarup Agarwal and the ASA Family Trust are the company promoters.IPO Details
| IPO Opening Date | Jun 23, 2021 |
| IPO Closing Date | Jun 25, 2021 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹1 per equity share |
| IPO Price | ₹290 - 296 per equity share |
| Market Lot | 50 Shares |
| Min Order Quantity | 50 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹800 Cr |
| Fresh Issue | [.] Eq Shares of ₹1 (aggregating up to ₹100.00 Cr) |
| Offer for Sale | [.] Eq Shares of ₹1 (aggregating up to ₹700.00 Cr) |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 42.95x | - | - | 51.88x | 11.30x | 29.04x |
IPO Tentative Timetable
The India Pesticides Limited IPO open date is Jun 23, 2021, and the close date is Jun 25, 2021. The issue may list on Jul 05, 2021.
| IPO Open Date | Jun 23, 2021 |
| IPO Close Date | Jun 25, 2021 |
| Basis of Allotment Date | Jun 30, 2021 |
| Initiation of Refunds | Jul 01, 2021 |
| Credit of Shares to Demat Account | Jul 02, 2021 |
| IPO Listing Date | Jul 05, 2021 |
IPO Lot Size
The India Pesticides Limited IPO market lot size is 50 shares. A retail-individual investor can apply for up to 13 lots (650 shares or ₹192400).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 50 | ₹14800 |
| Maximum | 13 | 650 | ₹192400 |
IPO Promoter Holding
| Pre Issue Share Holding | 82.68% |
| Post Issue Share Holding | 72% |
Company Financials:
For the year/period ended (₹ in Crs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 5,170.80 | 6,553.77 | 1,345.32 |
| 31-Mar-20 | 3,657.02 | 4,897.27 | 707.99 |
| 31-Mar-19 | 3,172.37 | 3,460.42 | 439.21 |
Objects of the Issue:
- To fiannce the working capital requirements of the company.
- To meet general corporate purposes.
