Crop Life Science was incorporated on May 24, 2006. It is an agrochemical company engaged in manufacturing, distributing, and marketing a wide range of agrochemical formulations. Their product portfolio encompasses agricultural chemicals, which include pesticides and micro fertilizers. Notably, the range of pesticides comprises insecticides, fungicides, herbicides, and weedicides.
| Bidding Dates |
|---|
| 18 Aug 2023 - 22 Aug 2023 |
| Subscription |
|---|
| 4.18x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,04,000 | 1 | 1 | 2000 | 5.1 M | ₹52 | 70.01 % | ₹267.3 M | RHP DOC |
Crop Life Science IPO SUBSCRIPTION STATUS
22 Aug '23Crop Life Science IPO overall subscription rate was 4.18 times the total available shares
Crop Life Science IPO retail subscription rate was 6.78 times in the retail segment
Crop Life Science IPO non-institutional investor subscription rate was 1.58 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
22 Aug 2023 (Day 3) | 6.78x | 1.58x | - |
21 Aug 2023 (Day 2) | 3.73x | 0.77x | - |
18 Aug 2023 (Day 1) | 1.4x | 0.26x | - |
Crop Life Science FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) |
| 11MFY23 | 43.7 | 1225.4 | 9.2 | -40.3 |
| FY22 | 28.1 | 1020.1 | -1.5 | -21.4 |
| FY21 | 37.0 | 1189.3 | 35.0 | 13.5 |
| FY20 | 32.3 | 1351.3 | 25.1 | 17.6 |
Crop Life Science IPO SUBSCRIPTION STATUS DETAILS
Crop Life Science had 5.1 M shares on offer
Crop Life Science IPO offer price was ₹52
Crop Life Science IPO minimum Investment was ₹104000
Crop Life Science IPO issue size was ₹ 267.3 M
Crop Life Science had a minimum lot size of 2000 Shares per application
Crop Life Science NUMBER OF SHARES ON OFFER
Crop Life Science IPO IMPORTANT DATES
| Issue Open Date | 18 Aug 2023 |
| Issue close Date | 22 Aug 2023 |
| Allotment Date | 25 Aug 2023 |
| Refund Date | 28 Aug 2023 |
| Demat Account Credit Date | 29 Aug 2023 |
| Listing Date | 30 Aug 2023 |
| Listing on Exchange(s) | NSE |
| Crop Life Science Allotment Status | Exchange |
Crop Life Science IPO subscription opened on 18 Aug 2023, and closed on 22 Aug 2023
IPO allotment for Crop Life Science was finalized on Friday, 25 Aug 2023
IPO listing for Crop Life Science was on NSE on Wednesday, 30 Aug 2023
Crop Life Science IPO LISTING GAINS
| Issue Price (adjusted) | 52.0 |
| Listing Open Price | 56.0 |
| Listing Close Price | 53.1 |
| Listing Gain% | 7.6% |
| Current Gain% | 32.7% |
Crop Life Science Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Crop Life Science Ltd. | 69 | 118.3 | 17.8 | 1.4 | 0.6 | 7.9 | 3.2 | 208.9 | 3.6 | 6.6 | 12.6 | 3.9 | 12.6 |
| UPL Ltd. | 573 | 48370.9 | 25.1 | 0.4 | 0.9 | 5.5 | 2 | 52502 | 11.4 | 1922 | 114.3 | 22.8 | 61.5 |
| PI Industries Ltd. | 2774.6 | 42095.7 | 31.9 | -1.6 | 6.3 | 11.8 | 9.8 | 7024.4 | -15.6 | 1320.8 | -20.4 | 87.1 | -20.4 |
| Sumitomo Chemical India Ltd. | 533 | 26602 | 45.9 | 11.5 | 8.2 | 16 | 12.1 | 3385 | 3.6 | 543 | 7.4 | 11.6 | 4 |
| Bayer Cropscience Ltd. | 4177.2 | 18773.2 | 25.6 | 1.1 | 3.4 | 23.2 | 12.1 | 5770 | 3.2 | 689.2 | 21.3 | 162.9 | 23.6 |
| Sharda Cropchem Ltd. | 814 | 7344.4 | 11.7 | 0.2 | 1.4 | 21.7 | 11.8 | 5409.8 | 23.5 | 680.9 | 123.7 | 69.4 | 49.1 |
Crop Life Science INFORMATION ON IPO ISSUE
About Crop Life Science
Crop Life Science was incorporated on May 24, 2006. It is an agrochemical company engaged in manufacturing, distributing, and marketing a wide range of agrochemical formulations. Their product portfolio encompasses agricultural chemicals, which include pesticides and micro fertilizers. Notably, the range of pesticides comprises insecticides, fungicides, herbicides, and weedicides.
Object of the Issue
- Working capital requirement
- General corporate purpose
- Meeting public issue expenses
Crop Life Science - PROMOTERS
| Name |
|---|
| Rajesh Lunagariya |
| Ashvin Lunagaria |
Crop Life Science Lead Manager of the Issue
Interactive Financial Services
mbd@ifinservices.in
Crop Life Science Registrar to the issue
Purva Sharegistry (India) Private Limited
support@purvashare.com
Crop Life Science Strengths
Wide range of products
The company is engaged in the manufacturing of a wide and diverse range of products, namely pesticides and micro fertilizers. It has obtained approvals for 296 technical formulations for producing insecticide products
Extensive distribution network
The company has rapidly expanded the depth and breadth of its distributor and wholesaler network. It boasts approximately 1800 channel distributors and wholesaler outlets spread across different regions
Prime location of factory
Its factory is situated in the GIDC Industrial area in Ankleswar, Bharuch. It benefits from excellent connectivity via National Highway roads and railways, which facilitates the smooth movement of raw materials and finished goods
Crop Life Science Risks
Outstanding litigations
There are pending litigations involving the company, and if determined against it, these could potentially have an adverse impact on its financial condition
Seasonal business
The business is susceptible to climatic conditions and follows a cyclical pattern. Seasonal fluctuations and unfavorable local and global weather patterns could potentially adversely affect the business
Dependent on few customers
The company relies on a limited number of customers and suppliers for sales and purchases, particularly from the top 10 in each category. The potential loss of any of these major customers or suppliers could have a significant impact on the company's revenues
IPO FAQs
The promoters of the company are Rajesh Lunagariya and Ashvin Lunagaria.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 52.0 - 52.0.
The IPO application opens on Aug 18, 2023 and closes on Aug 22, 2023.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 104,000.0, the maximum value for this IPO is Rs 104,000.0.
This IPO will be allotted on Aug 25, 2023.
The refund will be credited to your account on Aug 28, 2023.
The allotted shares will be credited to your demat on Aug 29, 2023.
Crop Life Science Ltd.’s shares listed on the stock exchanges on Aug 30, 2023.