NEW DELHI: The initial public offer of India Pesticides Limited was subscribed 29 times on the closing day of the subscription on Friday.
The Rs 800-crore IPO received bids for 56,07,11,650 shares against 1,93,10,345 shares on offer, as per NSE data.
Qualified Institutional Buyers (QIBs) category was subscribed 42.95 times, non-institutional investors 51.88 times, and those for Retail Individual Investors(RIIs) 11.30 times.
Did you Know?
Agrochemical company India Pesticides Ltd (IPL) has received capital markets regulator Sebi s nod to float an initial public offer (IPO). On February 10, the lucknow-based firm had filed draft red herring prospectus (DRHP) with SEBI for a Rs 800 crore ini
Synopsis
The R&D-focused agrochemical technical company is looking to raise Rs 100 crore via fresh issuance and Rs 700 crore through an offer for sale (OFS) by promoters.
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India Pesticides may decide to undertake a pre-IPO placement of Rs 75 crore.
NEW DELHI: India Pesticides on Wednesday filed the draft red herring prospectus (DRHP) for a Rs 800 crore initial public offering (IPO).
The R&D-focused agrochemical technical company is looking to raise Rs 100 crore via fresh issuance and Rs 700 crore through an offer for sale (OFS) by promoters.
Promoter Anand Swarup Agarwal is looking to sell Rs 281 crore worth of shares in the OFS, while the other selling shareholders intend to offload Rs 419 crore worth of shares.
India Pesticides files IPO papers with Sebi, aims to raise Rs 800 crore
India Pesticides will utilise net fresh issue proceeds for funding working capital requirements and general corporate purposes. February 10, 2021 / 01:27 PM IST
Uttar Pradesh-based agrochemical technicals company India Pesticides filed draft red herring prospectus with the capital market regulator for its initial public offering on February 8.
The company aims to raise Rs 800 crore via its public issue which consists of a fresh issue of Rs 100 crore and an offer for sale of Rs 281.4 crore by promoter Anand Swarup Agarwal and Rs 418.6 crore by selling shareholders.
The company and its selling shareholder may, in consultation with the book running lead managers, consider a further pre-IPO placement issue of Rs 75 crore. If the pre-IPO placement takes place, the fresh issue size will get reduced accordingly.