Laxmi Organi pre-IPO: IIFL, GMO, WhiteOak, Malabar invest Rs 200 crore in Laxmi Organic pre-IPO round
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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.
February 10, 2021
To utilise the net proceeds towards funding the working capital requirements and general corporate purposes Uttar Pradesh-based agrochemical technicals company India Pesticides Ltd has filed a Draft Red Herring Prospectus to raise ₹800 crore through an Initial Public Offering (IPO).
The company intends to raise ₹100 crore through issuance of fresh shares and ₹700 crore through an Offer For Sale (OFS) by promoter Anand Swarup Agarwal (₹281 crore) and another shareholder (₹419 crore). The firm might also raise ₹75 crore through a pre-IPO placement, according to the prospectus filed with the market regulator.
India Pesticides proposes to utilise the net proceeds towards funding the working capital requirements and general corporate purposes.
Published: 19 January 2021
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