India Pesticides’ Rs 800 crore initial public offering (IPO) will open for bidding on June 23. The agrochemical technicals firm’s main market problem will likely be open for 3 days, till June 25. The shares are more likely to be listed on the BSE Sensex and NSE Nifty.
The share sale will comprise a recent problem of shares price Rs 100 crore and an offer-for-sale (OFS) of Rs 281.4 crore by the promoter Anand Swarup Agarwal and Rs 418.6 crore by the shareholders, based on the draft pink herring prospectus filed with Sebi.
The firm will utilise the IPO proceeds to fund working capital necessities and for common company functions.
Started in 1984, India Pesticides manufactures herbicides, pesticides and fungicide formulations, in addition to lively pharmaceutical components. It has two manufacturing amenities at UPSIDC industrial space at Lucknow and Sandila, Hardoi in Uttar Pradesh; and caters to firms, akin to Syngenta Asia Pacific, UPL, Ascenza Agro and Sharda Cropchem.
Axis Capital and JM Financial are the e-book working lead managers to the public supply, whereas KFin Technologies is the registrar to the problem.
India Pesticides’ listed friends embody Dhanuka Agritech, Bharat Rasayan, UPL, Rallis India and PI Industries.