Bookbuilding IPO | ₹200 Cr | Listed at BSE, NSE | Thu, Jun 26, 2025 - Mon, Jun 30, 2025
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 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 Open
Thu, Jun 26, 2025
IPO Close
Mon, Jun 30, 2025
Issue Price
₹111 per share
Market Cap (Pre-IPO)
₹701.54 Cr
| IPO Date | 26 to 30 Jun, 2025 |
| Listed on | Thu, Jul 3, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹105 to ₹111 |
| Issue Price | ₹111 per share |
| Lot Size | 135 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹11.00 |
| Total Issue Size | 1,80,40,144 shares (agg. up to ₹200 Cr) |
| Fresh Issue | 1,44,36,541 shares (agg. up to ₹160 Cr) |
| Offer for Sale | 36,03,603 shares of ₹10 (agg. up to ₹40 Cr) |
| Share Holding Pre Issue | 4,87,87,456 shares |
| Share Holding Post Issue | 6,32,23,997 shares |
| BSE Script Code / NSE Symbol | 544432 / IGCL |
| ISIN | INE05J901018 |
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 | Max 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%) |
Investors can bid for a minimum of 135 shares and in multiples thereof.
| 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 |
Indogulf Cropsciences IPO raises ₹58.20 crore from anchor investors. Indogulf Cropsciences IPO Anchor bid date is June 25, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Wed, Jun 25, 2025 |
| Shares Offered | 52,43,242 |
| Anchor Portion (₹ Cr.) | 58.20 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Jul 31, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Sep 29, 2025 |
| 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 |
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 Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 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 |
| KPI | Mar 31, 2024 |
|---|---|
| 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 (₹) | 5.79 | 4.57 |
| P/E (x) | 19.18 | 24.27 |
| Promoter Holding | 96.86% | 68% |
| Market Cap | ₹701.54 Cr. |
The Indogulf Cropsciences IPO is subscribed 27.17 times on June 30, 2025 5:04:59 PM (Day 3). The public issue subscribed 14.97 times in the retail category, 31.73 times in the QIB category, and 49.06 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 31.73 | 37,65,767 | 11,94,79,455 |
| NII | 49.06 | 27,02,703 | 13,25,86,065 |
| bNII (bids above ₹10L) | 52.13 | 18,01,802 | 9,39,28,140 |
| sNII (bids below ₹10L) | 42.91 | 9,00,901 | 3,86,57,925 |
| Retail | 14.97 | 63,06,306 | 9,43,93,080 |
| Total | 27.17 | 1,27,74,776 | 34,71,50,475 |
Total Application : 6,48,156
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLM and commissions (including underwriting commission, brokerage and selling commission) | 9.44 |
| 2 | Commission/processing fee for SCSBs and Sponsor Banks. Brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 0.72 |
| 3 | Fees payable to the Registrar to the Offer | 0.48 |
| 4 | Advertising and marketing expenses | 1.16 |
| 5 | Other expenses: (i) Listing fees, SEBI and Stock Exchanges filing fees, book building software fees and other regulatory expenses, (ii) Printing and stationery expenses, (iii) Advertising and marketing expenses, (iv) Fees payable to the legal counsel, (v) Fees payable to the Statutory Auditors, (vi) Fees payable to industry service provider and practicing company secretary, (vii) Miscellaneous | 11.98 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹111.00 | ₹111.00 |
| Open | ₹111.00 | ₹111.00 |
| Low | ₹105.45 | ₹106.00 |
| High | ₹112.60 | ₹113.00 |
| Last Trade | ₹110.80 | ₹110.35 |
Lead Manager Reports
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 Crores. The issue is priced at ₹111 per share. The minimum order quantity is 135.
The IPO opens on Thu, Jun 26, 2025, and closes on Mon, Jun 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 Thu, Jun 26, 2025 and closes on Mon, Jun 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 Wed, Jul 2, 2025. Check the Indogulf Cropsciences IPO allotment status.
The Indogulf Cropsciences IPO listing date is on Thu, Jul 3, 2025.
