Delhi based Indogulf Cropsciences plans Rs 200 Crore IPO

Out of the IPO proceeds, Rs 100 Crore will be used for working capital, Rs 40 Crore for debt repayment, and Rs 14 Crore for setting up a dry flowable plant at Sonipat, Haryana.

Delhi based Indogulf Cropsciences, a manufacturer of crop protection products, plant nutrients, and biologicals, has filed papers with SEBI for an Initial Public Offering (IPO). The IPO consists of a fresh issue worth Rs 200 Crore and an offer-for-sale (OFS) of 38.54 lakh equity shares by existing shareholders. Om Prakash Aggarwal (HUF) and Sanjay Aggarwal (HUF) will sell 15.4 lakh and 23.13 lakh shares, respectively, through the OFS.

The company operates four manufacturing facilities in Jammu and Kashmir and Haryana, producing various formulations like water-dispersible granules, suspension concentrates, and emulsions. Indogulf exports its products to over 34 countries, with key customers including Krishi Rasayan Exports, Parijat Industries, and Crystal Crop Protection.

Out of the IPO proceeds, Rs 100 Crore will be used for working capital, Rs 40 Crore for debt repayment, and Rs 14 Crore for setting up a dry flowable plant at Sonipat, Haryana.

The company’s crop protection segment accounted for 91 per cent of revenue in FY24, with a net profit of Rs 28.2 Crore, a 25.9 per cent increase from the previous year. Systematix Corporate Services is the sole merchant banker for the issue.

Out of the IPO proceeds, Rs 100