Indogulf Cropsciences Files for IPO with SEBI

Indogulf Cropsciences Ltd, based in Delhi, has filed for an IPO with SEBI. The offering comprises a Rs 200 crore fresh issue and an OFS of 38.55 lakh equity shares. Proceeds will fund working capital, debt repayment, and the setting up of a new plant.

Indogulf Cropsciences Ltd, a specialist in crop protection products, plant nutrients, and biologicals, has approached the capital markets regulator SEBI for an Initial Public Offering (IPO).

The IPO, a blend of fresh issues worth up to Rs 200 crore and an Offer For Sale (OFS) of up to 38.55 lakh equity shares, will include a reservation for eligible employees, as indicated in the Draft Red Herring Prospectus (DRHP).

The OFS will see 15.41 lakh equity shares sold by Om Prakash Aggarwal (HUF) and 23.14 lakh shares by Sanjay Aggarwal (HUF). The raised funds will be channeled into working capital, debt payment, and the construction of a new dry flowable plant in Haryana, besides other corporate needs.

Founded in 1993, Indogulf Cropsciences spans crop protection, plant nutrients, and biological segments, serving both retail and institutional customers to boost productivity.

The company operates four manufacturing units and maintains subsidiaries in Australia and India while boasting an extensive sales network across 22 Indian states, 3 Union Territories, and 34 international markets. In fiscal 2024, revenue climbed to Rs 552.23 crore from Rs 549.66 crore in 2023, with profit after tax rising to Rs 28.23 crore from Rs 22.42 crore.

Systematix Corporate Services Ltd will lead the book-running for the issue.

(With inputs from agencies.)