Indogulf Cropsciences’ IPO Opens On June 26
FinTech BizNews Service
Mumbai, June 23, 2025: Indogulf Cropsciences Limited has fixed the price band of Rs105/- to Rs111/- per Equity Share of face value Rs10/- each for its maiden initial public offer.
The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Thursday, June 26, 2025, for subscription and close on Monday, June 30, 2025. Investors can bid for a minimum of 135 Equity Shares and in multiples of 135 Equity Shares thereafter.
Mr. Sanjay Aggarwal, Managing Director, Indogulf Cropsciences answering questions through webinar on the IPO of the company on Monday
The IPO is a mix of fresh issue of up to Rs 160 crore and an offer for sale up to 15,40,960 equity shares
by Om Prakash Aggarwal (HUF), and up to 20,62,643 equity shares by Sanjay Aggarwal (HUF).
The proceeds from the fresh issue to the extent of Rs 65 crore will be used for funding working capital
requirements of the company; Rs 34.12 crore for repayment/prepayment, in full or in part, of certain
outstanding borrowings availed by the Company; Rs 14 crore for Capital expenditure of the Company
for setting up an in-house dry flowable (DF) plant at Barwasni, District Sonipat, Haryana; and general
corporate purposes.
Indogulf Cropsciences commenced its operations in 1993 and primarily operate under three business
verticals namely crop protection, plant nutrients and biologicals, to retail and institutional customers
focused on improving the crop yield. It is engaged in the business of manufacturing of crop protection
products, plant nutrients and biologicals in India.
It is one of the first few indigenous manufacturers of Pyrazosulfuron Ethyl technical, with the minimum
purity of 97% indigenously in India and commenced production in 2018. It is recognized as a ‘Two Star
Export House’ and a growing exporter of crop protection, plant nutrients and biologicals products and
it exported its products to over 34 countries. (Source: CareEdge Report)
It manufacture and market extensive range of products in all types of available formulations such as
water dispersible granules (“WDG”), suspension concentrate (“SC”), capsule suspension (“CS”), ultra-
low volume (“ULV”), emulsion in water (“EW”), soluble granule (“SG”), flowable suspension (“FS”), etc.
which can be in powder, granules and liquid form and catering to a broad spectrum of crops, including
cereals, pulses and oilseeds, fibre crops, plantations, and fruits and vegetables.
The company's key customers include Krishi Rasayan Exports Private Limited, Delhi, Parijat Industries
(India) Private Limited, Delhi, BR Agrotech Private Limited, Delhi, Crystal Crop Protection Limited,
Delhi, and Asasiat of Development for Agric & Trade Co., UAE. It has also established long-term
relationships with suppliers namely Coromandel International Limited, GSP Crop Science Private
Limited, Gujarat, Dagro Chemical (Changzhou) Co. Ltd., China, Hubei Benxing Supply Chain
Management Co. Ltd, China, and MaxxGro Agrology Private Limited, Delhi.
Presently it operates four manufacturing facilities located in Samba, Jammu and Kashmir; Nathupur -
I, Haryana; Nathupur - II, Haryana; and Barwasni, Haryana. It also has two Subsidiaries, Indogulf
Cropsciences Australia Pty Ltd located in Sydney, Australia and Abhiprakash Globus Private Limited
located in Delhi, India.
It has a presence across 22 states and 3 Union Territories in India and over 34 countries outside India.
As on April 30, 2025, it has a network of 192 institutional business partners (b2b), 6,916 working
domestic distributors (b2c), supported by 17 stock depots and 6 sales/branch offices and 143 overseas
business partners in over 34 countries.
Indogulf Cropsciences’ revenue from operations increased from Rs 549.66 crore in Fiscal 2023 to Rs
552.23 crore in Fiscal 2024. Profit after tax increased by 25.91% from Rs 22.42 crore for Fiscal 2023 to
Rs 28.23 crore for Fiscal 2024.
For the nine months ended December 31, 2024, revenue from operations stood at Rs 464.19 crore
and profit after tax stood at Rs 21.68 crore.
Systematix Corporate Services Limited is the sole book-running lead manager, and Bigshare Services
Private Limited is the registrar of the issue.
The Offer is being made through the book-building process, wherein not more than 50% of the net
offer shall be available for allocation on a proportionate basis to qualified institutional buyers, not less
than 15% of the offer shall be available for allocation to non-institutional bidders, and not less than
35% of the offer shall be available for allocation to retail individual bidders.
