Indogulf Cropsciences Limited has fixed the price band of Rs 105/- to Rs 111/- per Equity Share of face value Rs 10/- 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.
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.
