Indogulf Cropsciences Ltd. IPO
IPO Timeline
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | — | 8,738,737 (48%) | — | ₹9,700 Cr |
| NII (HNI) | — | 2,621,622 (15%) | — | ₹2,910 Cr |
| Retail | — | 6,117,117 (34%) | — | ₹6,790 Cr |
| Employee | — | 600,000 (3%) | — | ₹67 Cr |
| Σ Total | — | 18,077,476 (100%) | — | ₹200,660 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 135 | ₹14,985 |
| Retail (Max) | 13 | 1,755 | ₹194,805 |
| S-HNI (Min) | 14 | 1,890 | ₹209,790 |
| B-HNI (Min) | 67 | 9,045 | ₹1,003,995 |
Financial Statements Amount in Crore
| Metric | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Revenue | 466 | 556 | 552 |
| EBITDA | 45 | 56 | 49 |
| Profit After Tax | 22 | 28 | 22 |
| Net Worth | 265 | 232 | 203 |
| Total Assets | 598 | 542 | 518 |
| Reserves & Surplus | 217 | 208 | 180 |
| Total Borrowing | 206 | 155 | 189 |
Valuation & Key Ratios
Grey Market Premium (GMP)
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
- 1 Funding working capital requirements of the Company – 65.00
- 2 Repayment/ prepayment, in full or in part, of certain outstanding borrowings availed by the Company – 34.12
- 3 Capital expenditure of the Company for setting up an in-house dry flowable (DF) plant at Barwasni, District Sonipat, Haryana – 14.00
- 4 General corporate purposes – 27.85
Company Overview
Incorporated in 1993, Indogulf Cropsciences Limited is engaged in manufacturing crop protection products, plant nutrients, and biologicals in India.
The company manufactured Spiromesifen technical with 96.5% purity in 2019 and is one of the first indigenous manufacturers of Pyrazosulfuron Ethyl technical with 97% purity in India.
The company operates four manufacturing facilities in Samba (Jammu & Kashmir) and Nathupur (Haryana), covering approximately twenty acres, including two sites in Nathupur and one in Barwasni, Haryana.
The company has a sales network across 22 states and 3 Union Territories in India, with 169 business partners, 5,772 distributors, and 129 partners in 34 countries worldwide.
The company’s flexible, multi-purpose facilities allow diverse product manufacturing, adapting to customer needs. Its competitive advantage is strengthened by high regulatory barriers in the agrochemical industry, including costs and complex approvals.
Product Portfolio:
- Plant Nutrients: The company manufactures specialty fertilizers, bio-simulants, and performance products, including straight fertilizers and soil health products, to enhance soil fertility, stimulate root growth, and improve crop yields.
- Crop Protection Products: The company manufactures crop protection products, including insecticides, fungicides, herbicides, and bio-stimulants, designed to safeguard crops from pests, diseases, and weeds, ensuring healthy growth and productivity.
- Biologicals: The company offers biological products, including bio-stimulants and bio-fertilizers, to improve crop growth, nutrient uptake, stress tolerance, and overall sustainability, with products like Biogold, Indo Breeza, and Indo Mychoriza.
As of August 31, 2024, the company had 640 permanent employees.
Competitive Strengths:
- Diversified product portfolio and specialized products across all three verticals.
- Established distribution network in India and abroad.
- Backward integrated manufacturing infrastructure.
- Strong R&D and product development capabilities.
- Experienced Promoters and a strong management team.