If you want to earn from the stock market, then you have a great opportunity. You will get this opportunity on 23 June i.e. Wednesday. On this day you can earn a big amount by investing less. Actually, in the series of IPO, another company is descending to raise funds from the primary market. Now the IPO of agrichemical company India Pesticides is opening for subscription on 23 June. Let us know about it in detail.
Money Can be Invested Till June 25th
You can invest money in India Pesticides IPO from 23rd June to 25th June. According to the statement issued by the company, anchor investors will be able to place bids for the shares on June 22. The price band of India Pesticides Limited IPO has been fixed at Rs 290-296 per share. The company’s shares will be listed on both BSE and NSE.
800 Crores This IPO
India Pesticides IPO will be worth Rs 800 crore. That is, through this IPO, the company will raise Rs 800 crore from the market. The company will issue a fresh issue of ₹ 100 crores. At the same time, promoter Anand Swaroop Agarwal will bring an offer for sale worth Rs 281.4 crore. Not only this, but shares worth Rs 418.6 crore of shareholders will also be sold.
What is the company’s plan?
The Uttar Pradesh-based company may consider the pre-IPO placement of Rs 75 crore. For this, it will consult merchant bankers. The company said that the proceeds of the new issue will be used for working capital requirements and for general corporate business. Axis Capital Limited and JM Financial Limited have been appointed as the lead managers for the book running of this IPO, while KFin Technologies Private Limited is its registrar.
What is the Business of the Company?
India Pesticides are R&D-based Technical Key Agrochemical Manufacturers. Simply put, it is an agrochemical technical company focused on research and development. The company also has a business of formulations in the Herbicides, Insecticides, and Fungicide segments. Currently, the company is also manufacturing Active Pharmaceutical Ingredients (APIs). India Pesticides Captain, Folpet, and Thiocarbamate are one of the largest companies in the world in terms of the production capacity of insecticides. It is the only manufacturer of at least five technical in the country.