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India Pesticides Limited IPO Detail

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 DateJun 23, 2021
IPO Closing DateJun 25, 2021
Issue TypeBook Built Issue IPO
Face Value₹1 per equity share
IPO Price ₹290 - 296 per equity share
Market Lot50 Shares
Min Order Quantity50 Shares
Listing AtBSE, 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)

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 DateJun 23, 2021
IPO Close DateJun 25, 2021
Basis of Allotment DateJun 30, 2021
Initiation of RefundsJul 01, 2021
Credit of Shares to Demat AccountJul 02, 2021
IPO Listing DateJul 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).

ApplicationLotsSharesAmount (Cut-off)

IPO Promoter Holding

Pre Issue Share Holding82.68%
Post Issue Share Holding72%

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.