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Indogulf Cropsciences IPO is a book build issue of ₹200.00 crores. The issue is a combination of fresh issue of 1.44 crore shares aggregating to ₹160.05 crores and offer for sale of 0.36 crore shares aggregating to ₹39.95 crores.
Indogulf Cropsciences IPO bidding started from Jun 26, 2025 and ended on Jun 30, 2025. The allotment for Indogulf Cropsciences IPO was finalized on Jul 1, 2025. The shares got listed on BSE, NSE on Jul 3, 2025.
Indogulf Cropsciences IPO price band is set at ₹111.00 per share . The lot size for an application is 135. The minimum amount of investment required by an retail is ₹14,985 (135 shares) (based on upper price). The lot size investment for sNII is 14 lots (1,890 shares), amounting to ₹2,09,790, and for bNII, it is 67 lots (9,045 shares), amounting to ₹10,03,995.
The issue includes a reservation of up to 6,00,000 shares for employees offered at a discount of ₹11.00 to the issue price.
Systematix Corporate Services Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue.
Refer to Indogulf Cropsciences IPO RHP for detailed Information.
| IPO Date | June 26, 2025 to June 30, 2025 |
| Listing Date | July 3, 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹105 to ₹111 per share |
| Issue Price Final | ₹111 per share |
| Lot Size | 135 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,80,40,144 shares (aggregating up to ₹200.00 Cr) |
| Fresh Issue | 1,44,36,541 shares (aggregating up to ₹160.05 Cr) |
| Offer for Sale | 36,03,603 shares of ₹10 (aggregating up to ₹39.95 Cr) |
| Employee Discount | ₹11.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 4,87,87,456 shares |
| Share Holding Post Issue | 6,32,23,997 shares |
Indogulf Cropsciences IPO offers total 1,80,77,476 shares. Out of which 87,38,737 (48.34%) allocated to QIB, 34,95,495 (19.34%) allocated to QIB (Ex- Anchor), 26,21,622 (14.50%) allocated to NII, 61,17,117 (33.84%) allocated to RII and 52,43,242 (29.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 87,38,737 (48.34%) | NA |
| − Anchor Investor Shares Offered | 52,43,242 (29.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 34,95,495 (19.34%) | NA |
| NII (HNI) Shares Offered | 26,21,622 (14.50%) | NA |
| − bNII > ₹10L | 8,73,874 (4.83%) | 462 |
| − sNII < ₹10L | 17,47,748 (9.67%) | 924 |
| Retail Shares Offered | 61,17,117 (33.84%) | 45,311 |
| Employee Shares Offered | 6,00,000 (3.32%) | NA |
| Total Shares Offered | 1,80,77,476 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Indogulf Cropsciences IPO raises ₹58.20 crore from anchor investors. Indogulf Cropsciences IPO Anchor bid date is June 25, 2025. Indogulf Cropsciences IPO Anchor Investors list
| Bid Date | June 25, 2025 |
| Shares Offered | 52,43,242 |
| Anchor Portion Size (In Cr.) | 58.20 |
| Anchor lock-in period end date for 50% shares (30 Days) | July 31, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | September 29, 2025 |
Indogulf Cropsciences IPO opens on June 26, 2025, and closes on June 30, 2025.
| IPO Open Date | Thu, Jun 26, 2025 |
| IPO Close Date | Mon, Jun 30, 2025 |
| Tentative Allotment | Tue, Jul 1, 2025 |
| Initiation of Refunds | Wed, Jul 2, 2025 |
| Credit of Shares to Demat | Wed, Jul 2, 2025 |
| Tentative Listing Date | Thu, Jul 3, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Jun 30, 2025 |
Investors can bid for a minimum of 135 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 135 | ₹14,985 |
| Retail (Max) | 13 | 1,755 | ₹1,94,805 |
| S-HNI (Min) | 14 | 1,890 | ₹2,09,790 |
| S-HNI (Max) | 66 | 8,910 | ₹9,89,010 |
| B-HNI (Min) | 67 | 9,045 | ₹10,03,995 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 1993, Indogulf Cropsciences Limited is engaged in manufacturing crop protection products, plant nutrients, and biologicals in India.
The company manufactured Spiromesifen technical with 96.5% purity in 2019 and is one of the first indigenous manufacturers of Pyrazosulfuron Ethyl technical with 97% purity in India.
The company operates four manufacturing facilities in Samba (Jammu & Kashmir) and Nathupur (Haryana), covering approximately twenty acres, including two sites in Nathupur and one in Barwasni, Haryana.
The company has a sales network across 22 states and 3 Union Territories in India, with 169 business partners, 5,772 distributors, and 129 partners in 34 countries worldwide.
The company’s flexible, multi-purpose facilities allow diverse product manufacturing, adapting to customer needs. Its competitive advantage is strengthened by high regulatory barriers in the agrochemical industry, including costs and complex approvals.
Product Portfolio:
As of August 31, 2024, the company had 640 permanent employees.
Competitive Strengths:
| Period Ended | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 597.81 | 542.25 | 517.51 | 413.59 |
| Total Income | 466.31 | 555.79 | 552.19 | 490.23 |
| Profit After Tax | 21.68 | 28.23 | 22.42 | 26.36 |
| EBITDA | 44.78 | 55.74 | 49.04 | 47.24 |
| Net Worth | 265.43 | 231.65 | 203.25 | 180.51 |
| Reserves and Surplus | 216.64 | 208.01 | 179.60 | 156.87 |
| Total Borrowing | 206.30 | 154.56 | 189.22 | 101.38 |
| Amount in ₹ Crore | ||||
The market capitalization of Indogulf Cropsciences IPO is ₹701.54 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| ROE | 12.2% |
| ROCE | 11.93% |
| Debt/Equity | 0.67 |
| RoNW | 12.19% |
| PAT Margin | 5.11% |
| EBITDA Margin | 10.09% |
| Price to Book Value | 1.13 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 5.79 | 4.57 |
| P/E (x) | 19.18 | 24.27 |
The Company Indogulf Cropsciences IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Funding working capital requirements of the Company | 65.00 |
| 2 | Repayment/ prepayment, in full or in part, of certain outstanding borrowings availed by the Company | 34.12 |
| 3 | Capital expenditure of the Company for setting up an in-house dry flowable (DF) plant at Barwasni, District Sonipat, Haryana | 14.00 |
| 4 | General corporate purposes | 27.85 |
[Dilip Davda] ICL is engaged in the production and marketing of crop protection products, plant nutrients, and biological. It posted static top lines for FY23 and FY24 which is attributed to volatile prices of its raw materials in those periods. Based on its recent financial data, the issue appears fully priced. The company is poised for bright prospects ahead considering government’s initiative for agriculture boost. Well-informed investors may park funds for medium to long term. Read detail review...
| Listing Date | July 3, 2025 |
| BSE Script Code | 544432 |
| NSE Symbol | IGCL |
| ISIN | INE05J901018 |
| Final Issue Price | ₹111 per share |
| NSE Listing Group | BE (Trade to Trade) |
| BSE Listing Group | B |
Indogulf Cropsciences Ltd.
501, Gopal Heights
Plot No - D-9,
Netaji Subhash Place
Delhi, New Delhi, 110034
Phone: +91 11 4004 0417
Email: cs@groupindogulf.com
Website: http://www.groupindogulf.com/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Indogulf Cropsciences IPO is a main-board IPO of 1,80,40,144 equity shares of the face value of ₹10 aggregating up to ₹200.00 Crores. The issue is priced at ₹111 per share. The minimum order quantity is 135.
The IPO opens on June 26, 2025, and closes on June 30, 2025.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Indogulf Cropsciences IPO using UPI as a payment gateway. Zerodha customers can apply in Indogulf Cropsciences IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Indogulf Cropsciences IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Indogulf Cropsciences IPO opens on June 26, 2025 and closes on June 30, 2025.
Indogulf Cropsciences IPO lot size is 135, and the minimum amount required for application is ₹14,985.
You can apply in Indogulf Cropsciences IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Indogulf Cropsciences IPO will be done on Tuesday, July 1, 2025, and the allotted shares will be credited to your demat account by Wednesday, July 2, 2025. Check the Indogulf Cropsciences IPO allotment status.
The Indogulf Cropsciences IPO listing date is on Thursday, July 3, 2025.
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