Indogulf Cropsciences Ltd., a fast-growing player in the agrochemical manufacturing and exports sector, has concluded its IPO with a strong subscription of 25.98 times. The company, which is a manufacturer of crop protection products, plant nutrients, and biologicals, is set to be listed on both NSE and BSE on July 3, 2025.

The IPO, structured as a book-built issue worth Rs 200 crore, comprises a fresh issue of 144.14 lakh equity shares (Rs 160 crore) and an offer for sale (OFS) of 36.03 lakh equity shares (Rs 40 crore).

The price band for the IPO was fixed between Rs 105 to Rs 111 per share, with a lot size of 135 shares, requiring a minimum investment of Rs 14,985 for retail investors. For HNIs, the minimum application size was 14 lots (1,890 shares), requiring an investment of Rs 2,09,790.

The company has garnered strong institutional interest and raised Rs 58.19 crore from anchor investors by allocating 52,43,242 equity shares at Rs 111 per share. The IPO closed on June 30, 2025, and the basis of allotment will be finalized on July 1, 2025.

Grey Market Premium and Listing Expectation:

As of June 24, 2025, the Grey Market Premium (GMP) of Indogulf Cropsciences IPO stood at Rs 11, indicating a likely listing price of Rs 122 – a premium of 9.90% over the upper band price of Rs 111. This reflects positive sentiment among investors.

Company Background:

Indogulf Cropsciences is known for its technological strength in manufacturing technical-grade pesticides and specialty formulations. Notably, it was among the first few Indian companies to indigenously produce Pyrazosulfuron Ethyl technical with 97% purity in 2018 and later Spiromesifen with 96.5% purity in 2019.

The company exports its products to over 34 countries, making it one of India's emerging agrochemical exporters. Their focus on research, in-house formulation development, and regulatory compliance has been a key driver of growth.

Use of IPO Proceeds:

The proceeds from the IPO will be deployed for:

1. Rs 65 crore for working capital requirements.

2. Rs 34.11 crore for repayment/prepayment of certain borrowings.

3. Rs 14 crore towards capital expenditure for establishing an in-house Dry Flowable (DF) plant in Barwasni, Sonipat, Haryana.

4. Remaining funds for general corporate purposes.

Financial Performance & Outlook:

While the complete financial data wasn't available in the public draft, the strong anchor investor response and significant oversubscription indicate robust financials and operational strength. The company’s global presence, product diversification, and technical innovation make it a promising player in the crop sciences segment.

Allotment Status & How to Check:

Investors can check their IPO allotment status starting July 1, 2025, via Bigshare Services Pvt Ltd, the registrar to the issue:

Steps to check:

1. Visit the IPO allotment status page of Bigshare Services.

2. Select "Indogulf Cropsciences Ltd IPO" from the dropdown.

3. Enter your application number, PAN, or DP ID.

4. Click "Submit" to view status.

Conclusion:

With a solid product base, export reach, and capital efficiency plans, Indogulf Cropsciences is expected to make a promising debut. Backed by institutional confidence and positive GMP signals, the IPO could offer listing gains and long-term value for investors in the agrochemical and crop protection sector.

Disclaimer: This article is for educational purposes only and does not constitute investment advice. Investors should consult financial advisors before investing in IPOs or equities.

The Upcoming IPOs in this week and coming weeks are Anthem Biosciences, Chemkart India, Meta Infotech, Happy Square Outsourcing Services, Cryogenic OGS, Crizac.

The Current active IPO are Silky Overseas, Vandan Foods, Pushpa Jewellers, Cedaar Textile, Marc Loire Fashions, Neetu Yoshi, Adcounty Media India, Moving Media Entertainment, Valencia India, PRO FX Tech, Ace Alpha Tech, Indogulf Cropsciences.

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