The total offer size is up to Rs 800 crore with fresh issue of equity shares of Rs 100 crore and offer for sale up to Rs 700 crore.
Agro-chemical maker India Pesticides Ltd will launch its IPO on June 23 to raise Rs 800 crore. 800 crore will be raised through IPO (initial public offering) of equity shares. Which will open on 23rd June and close on 25th June. The issue price of the IPO share has been fixed in the price band of Rs 290-296. This IPO will be listed on BSE and NSE.
The total offer size is up to Rs 800 crore with fresh issue of equity shares of Rs 100 crore and offer for sale up to Rs 700 crore. The company said it proposes to use the net proceeds to finance working capital requirements and general corporate purposes. Axis Capital Limited and JM Financial Limited have been appointed as the lead managers for the book running of this IPO, while KFin Technologies Private Limited is the registrar.
The company
India Pesticides Limited started in 1984 started operations in 1984. The formulation business is growing in the pesticides and fungicide sectors. It is the only Indian manufacturer and among the top five companies globally for many technology products such as Folpet and Cinomoxanil. India Pesticides is a diversified manufacturing company of Insecticides & Fungicides and APIs. The insecticide technicals the company uses include Thiocarbamate.
