Indogulf Cropsciences was incorporated on January 22, 1993. The company manufactures crop protection products, plant nutrients, and biologicals in India, including Spiromesifen (96.5% purity since 2019) and Pyrazosulfuron Ethyl (97% purity since 2018). As a growing exporter to over 34 countries, it has earned the distinction of a Government of India recognized ‘Two Star Export House’
| Bidding Dates |
|---|
| 26 Jun 2025 - 30 Jun 2025 |
| Subscription |
|---|
| 25.98x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,175 | 1 | 13 | 135 | 18.0 M | ₹105 - ₹111 | 69.07 % | ₹1891.9 M - ₹2000.0 M | RHP DOC |
Indogulf Cropsciences IPO SUBSCRIPTION STATUS
30 Jun '25Indogulf Cropsciences IPO overall subscription rate was 25.98 times the total available shares
Indogulf Cropsciences IPO retail subscription rate was 14.78 times in the retail segment
Indogulf Cropsciences IPO non-institutional investor subscription rate was 48.39 times in the non-institutional investor category
Indogulf Cropsciences IPO Qualified Institutional Bidder subscription rate was 33.26 times the available shares for Qualified Institutional Bidder
Indogulf Cropsciences IPO Employees subscription rate was 1.09 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 35% | 15% | 50% | - |
30 Jun 2025 (Day 3) | 14.78x | 48.39x | 33.26x | 1.09x |
27 Jun 2025 (Day 2) | 1.55x | 0.85x | 0.05x | 0.15x |
26 Jun 2025 (Day 1) | 0.69x | 0.27x | 0.05x | 0.05x |
Indogulf Cropsciences FINANCIALS
| Period | Net Profit (Rs in crore) | Revenue from Operations (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| 9MFY25 | 21.7 | 464.2 | -18.8 | -48.7 | 9.7% |
| 9MFY24 | 15.3 | 413.4 | 47.3 | 52.8 | 8.2% |
| FY24 | 28.2 | 552.2 | 53.3 | 47.1 | 10.1% |
| FY23 | 22.4 | 549.7 | -57.0 | -76.5 | 8.9% |
| FY22 | 26.4 | 487.2 | -7.0 | -19.2 | 9.7% |
Indogulf Cropsciences IPO SUBSCRIPTION STATUS DETAILS
Indogulf Cropsciences had 18.0 M shares on offer
Indogulf Cropsciences IPO offer price was in the range ₹105 - ₹111
Indogulf Cropsciences IPO minimum Investment was ₹14175
Indogulf Cropsciences IPO issue size was ₹ 1891.9 M - ₹ 2000.0 M
Indogulf Cropsciences had a minimum lot size of 135 Shares per application
Indogulf Cropsciences NUMBER OF SHARES ON OFFER
Indogulf Cropsciences IPO IMPORTANT DATES
| Issue Open Date | 26 Jun 2025 |
| Issue close Date | 30 Jun 2025 |
| Allotment Date | 01 Jul 2025 |
| Refund Date | 02 Jul 2025 |
| Demat Account Credit Date | 02 Jul 2025 |
| Listing Date | 03 Jul 2025 |
| Listing on Exchange(s) | NSE and BSE |
| Indogulf Cropsciences Allotment Status | Exchange/ Registrar |
Indogulf Cropsciences IPO subscription opened on 26 Jun 2025, and closed on 30 Jun 2025
IPO allotment for Indogulf Cropsciences was finalized on Tuesday, 01 Jul 2025
IPO listing for Indogulf Cropsciences was on NSE and BSE on Thursday, 03 Jul 2025
Indogulf Cropsciences IPO LISTING GAINS
| Issue Price (adjusted) | 111.0 |
| Listing Open Price | 111.0 |
| Listing Close Price | 110.3 |
| Listing Gain% | 0.0% |
| Current Gain% | -34.6% |
Indogulf Cropsciences 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Indogulf Cropsciences Ltd. | 72.6 | 459.1 | 11.5 | 0.4 | 0.7 | 8.7 | 4.9 | 712.1 | 19.8 | 40 | 27.2 | 6.3 | 27.2 |
| UPL Ltd. | 567 | 47864.4 | 24.8 | 0.4 | 0.9 | 5.5 | 2 | 52502 | 11.4 | 1922 | 114.3 | 22.8 | 61.5 |
| PI Industries Ltd. | 2751.6 | 41746.8 | 31.6 | -1.5 | 6.2 | 11.8 | 9.8 | 7024.4 | -15.6 | 1320.8 | -20.4 | 87.1 | -20.4 |
| Sumitomo Chemical India Ltd. | 561.2 | 28014.6 | 48.3 | 12.1 | 8.6 | 16 | 12.1 | 3385 | 3.6 | 543 | 7.4 | 11.6 | 4 |
| Bayer Cropscience Ltd. | 4157.3 | 18683.8 | 25.5 | 1.1 | 3.3 | 23.2 | 12.1 | 5770 | 3.2 | 689.2 | 21.3 | 162.9 | 23.6 |
| Sharda Cropchem Ltd. | 812.6 | 7331.3 | 11.7 | 0.2 | 1.4 | 21.7 | 11.8 | 5409.8 | 23.5 | 680.9 | 123.7 | 69.4 | 49.1 |
Indogulf Cropsciences INFORMATION ON IPO ISSUE
About Indogulf Cropsciences
Indogulf Cropsciences was incorporated on January 22, 1993. The company manufactures crop protection products, plant nutrients, and biologicals in India, including Spiromesifen (96.5% purity since 2019) and Pyrazosulfuron Ethyl (97% purity since 2018). As a growing exporter to over 34 countries, it has earned the distinction of a Government of India recognized ‘Two Star Export House’
Object of the Issue
- Funding working capital requirements of the company
- Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by the company
- Capital expenditure of the company for setting up an in-house dry flowable (DF) plant at Barwasni, Sonipat, Haryana
- General corporate purposes
Indogulf Cropsciences - PROMOTERS
| Name |
|---|
| Om Prakash Aggarwal |
| Sanjay Aggarwal |
| Anshu Aggarwal |
| Arnav Aggarwal |
Indogulf Cropsciences Book Running Lead Manager
Systematix Corporate Services Limited
mb.ipo@systematixgroup.in
Indogulf Cropsciences Registrar to the Offer
Bigshare Services Private Limited
ipo@bigshareonline.com
Indogulf Cropsciences Strengths
Diversified product portfolio
Over three decades, the company has diversified into a multi-product manufacturer of crop protection, plant nutrients, and biologicals in India. Their product portfolio has expanded from 198 products in FY22 to 259 in FY24, utilizing in-house innovative processes to serve a wide range of domestic and international customers
Backward integrated manufacturing infrastructure
The company sources raw materials for manufacturing through internal backward integration and external suppliers in India and globally, ensuring timely delivery by developing relationships with multiple vendors. This integration allows the manufacturing of key raw materials, reducing reliance on imports, lowering logistics costs, and improving operating margins
R&D and product development
The R&D laboratory is accredited by NABL under ISO/IEC 17025:2017. The company develops and upgrades 39 products, focusing on new product development, enhancing existing production processes, adopting advanced technology, and improving product quality and cost efficiency
Indogulf Cropsciences Risks
Inspections and audits
The company is subject to regular inspections and audits, with the success of its products heavily reliant on quality controls and standards. Any failure to comply may adversely impact business prospects and financial performance, including the cancellation of orders and exposure to warranty claims
Brand value
The company's brand value may be diluted due to changes in product names, quality concerns, or negative publicity, potentially impacting the business, financial condition, and operational results
Supply chain risks
A shortfall in the supply of components and raw materials, or an increase in their costs, may negatively impact product pricing and supply, adversely affecting the business, operational results, and financial condition
IPO FAQs
This IPO consists of an offer for sale of up to Rs 40.0 crore, of 3,603,603 shares. It also consists of a fresh issue of Rs 160.0 crore.
The promoters of the company are Om Prakash Aggarwal, Sanjay Aggarwal, Anshu Aggarwal and Arnav Aggarwal.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 105.0 - 111.0.
The IPO application opens on Jun 26, 2025 and closes on Jun 30, 2025.
The minimum lot size for the IPO is 135. The maximum lot size for the IPO is 1755.
For all category investors, the minimum application amount for this IPO is Rs. 14,175.0, the maximum value for this IPO is Rs 194,805.0.
This IPO will be allotted on Jul 01, 2025.
The refund will be credited to your account on Jul 02, 2025.
The allotted shares will be credited to your demat on Jul 02, 2025.
Indogulf Cropsciences Ltd.’s shares listed on the stock exchanges on Jul 03, 2025.