Indogulf Cropsciences IPO subscribed 17% on Day 1: Check GMP, price band, and other key details
(You can now subscribe to our
(You can now subscribe to our ETMarkets WhatsApp channel
The initial public offering (IPO) of Indogulf Cropsciences was subscribed 17% by 12:15 pm on the first day of bidding on Thursday.The IPO received bids for 22,86,090 shares against the 1,33,65,710 shares on offer. Retail investors showed the highest interest, subscribing to 31% of their allotted quota. The non-institutional investor (NII) portion was subscribed 11%, while qualified institutional buyers (QIBs) were yet to participate.In the grey market, Indogulf shares were quoting a premium of Rs 10–11, suggesting an estimated upside of around 9% over the upper price band of the issue.Also Read: Street Favourite! 10 Nifty micro-cap stocks analysts expect to rally up to 60% The issue is open for subscription until June 30, with allotment expected on July 1 and listing tentatively scheduled on both BSE and NSE on July 3.The IPO is priced in the range of Rs 105 to Rs 111 per share. Investors can apply for a minimum of one lot comprising 135 shares, amounting to Rs 14,985 at the upper price band.Also Read: HDB Financial Services IPO: Should you subscribe? Here's what brokerages say Systematix Corporate Services is the book-running lead manager for the IPO, with Bigshare Services acting as the registrar. The issue has received keen interest across investor categories, supported by the company's strong fundamentals and diversified business operations.Established in 1993, Indogulf Cropsciences is a well-known player in the agrochemical industry. The company manufactures crop protection products, plant nutrients, and biologicals and has a strong presence across 22 Indian states, 3 Union Territories, and exports to 34 countries.Its robust infrastructure includes four manufacturing units in Haryana and Jammu & Kashmir, complemented by a large distribution network and 640 permanent employees.Also Read: These 10 multibagger penny stocks surged 200-570% in last 1 year. Do you own any? Financially, the company posted a revenue of Rs 555.79 crore in FY 2023–24 with a PAT of Rs 28.23 crore. It has demonstrated consistent performance with an EBITDA margin of over 10 percent and an ROE of 12.2%.The IPO proceeds will be used to fund working capital, repay debt, and establish a new dry flowable plant in Haryana.With its experienced promoters, strong R&D capabilities, and sectoral tailwinds from India's growing agri-input market, Indogulf Cropsciences IPO presents a promising investment opportunity for those seeking long-term value in the chemical and agri-tech space.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
24 minutes ago
- Time of India
Over 90% of border habitations in NE get mobile network: Centre
1 2 Guwahati: Among the 5,200 villages and habitations situated in the northeastern border regions, 4,696 now have access to mobile network, the Centre informed the Lok Sabha on Wednesday. This accounts for mobile connectivity achieved in over 90 per cent of the remote border villages and habitations of the northeast. Replying to a question by Lok Sabha MP Indra Hang Subba, Union minister of state for communications and rural development Pemmasani Chandra Sekhar told the House that all 1,237 border villages and habitations in Assam have achieved complete mobile connectivity. In Sikkim, too, all 68 border villages and habitations have come under mobile network. However, Arunachal Pradesh, characterised by its challenging topography, continues to face connectivity issues, with 337 out of 1,502 border villages and habitations still without mobile coverage. The govt allocated Rs 1,775.53 crore through various Digital Bharat Nidhi (DBN) schemes between FY 2020-21 and FY 2024-25 to enhance mobile network infrastructure in the remote northeastern areas. The minister replied that mobile coverage for any uncovered inhabited villages is provided by the Telecom Service Providers (TSPs) based on techno-commercial viability. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Beyond Text Generation: An AI Tool That Helps You Write Better Grammarly Install Now Undo "The Centre, through funding from Digital Bharat Nidhi, is implementing various schemes for the expansion of telecom connectivity through the installation of mobile towers in the rural, remote, and border areas of the country," Sekhar said. Regarding Sikkim particularly, he said as of June, 11 sites were commissioned in Sikkim under DBN-funded mobile schemes, providing mobile coverage to 13 villages, including border areas. Statistics revealed that Arunachal Pradesh has the highest number of border villages and habitations (1,502), of which 1,165 have got mobile coverage. Meghalaya has the second highest number of border villages and habitations (1,272), of which 1,238 have mobile coverage. While 365 of Mizoram's 378 border villages and habitations got mobile coverage, the minister said, adding 194 of Manipur's 263 border villages and habitations got mobile coverage so far. In Nagaland, 96 out of 135, in Sikkim, all 68, and in Tripura, 333 of the 345 border villages and habitations have mobile coverage.
Time of India
24 minutes ago
- Time of India
Ahmedabad startup's 400cr global exit breaks new ground
Ahmedabad: A bootstrapped startup from the city has just made global waves. SocialPilot, a social media management platform used by over 13,000 businesses worldwide, has been acquired by Sweden-based tech firm for over $50 million (more than Rs 400 crore), according to industry sources. Tired of too many ads? go ad free now The co-founders, Jimit Bagadiya and Tejas Mehta, confirmed the acquisition, though the deal size remains officially undisclosed. The acquisition is being described by tech industry insiders as "one of the biggest exits by a bootstrapped startup in India" and "a landmark moment for Gujarat's IT sector", which has largely remained behind metros like Bengaluru and Pune in high-value acquisitions. Started in 2014 with no outside investment, SocialPilot has grown steadily over the past decade into one of India's most successful self-funded tech ventures. which serves more than 2 million small and medium-sized businesses across 15 countries, said the acquisition will help deepen its reach in the social media marketing space. For Bagadiya and Mehta, the decision to sell was driven by a vision to scale. "We decided to sell our entire stake to said Bagadiya, CEO. "My partner is based in the US, and after running SocialPilot for over a decade, we reached a stage where the business was profitable, growing steadily, and operating at scale. But we also recognised that to unlock the next phase — expanding into new markets, deepening the product, and accelerating distribution — we needed stronger leverage, either through funding or a strategic partnership. " Interestingly, the tool was originally built for e-commerce sellers struggling to promote products on social media. "While working on e-commerce projects for clients in the US and Europe, we recognised that e-commerce sellers were unable to promote their products effectively on social media. Tired of too many ads? go ad free now So, we built SocialPilot. Which over time evolved into a full-fledged platform for marketing agencies and SMBs, helping manage, schedule, and analyse posts across platforms," he said. Box: Co-founder rose from modest background Ahmedabad: Behind this success is a story of quiet persistence and modest beginnings. Jimit Bagadiya grew up in Limbdi, a small town in Gujarat's Surendranagar district. His father ran a tiny kirana shop and his mother sold papad and khakhra from home with help from his sisters. Bagadiya moved to Ahmedabad in Class 7. "I began living in a Jain hostel. Although the original fee was Rs 10,000 per year, concessions brought it down to Rs 2,500, a sum my family worked hard to cover. I completed my BCA and started my first job in 2004 for a montly salary of Rs 4,000," said Bagadiya, who then constantly worked on developing different skills and set up SocialPilot in 2014.
Time of India
an hour ago
- Time of India
5 years on, India resumes tourist visas to Chinese
NEW DELHI: After a five-year hiatus, and ahead of a possible visit by PM Narendra Modi to China next month for the SCO summit, India announced resumption of tourist visas for Chinese nationals. Tired of too many ads? go ad free now Both sides have looked to facilitate people-to-people exchanges to normalise ties. China, which has been keen to resume direct air services, welcomed the decision as a positive move. The Indian embassy in Beijing announced the decision effective July 24 on Weibo, China's microblogging site, on a day the two countries also held another round of diplomatic talks on border affairs, expressing satisfaction with the "general prevalence of peace and tranquillity in the border areas, leading to gradual normalisation of bilateral relations". India and China have had frequent high-level engagements since Modi's meeting with President Xi Jinping in Kazan last year, following the agreement to complete the disengagement of troops at the remaining friction points in eastern Ladakh. The decision to restart tourist visa services for Chinese nationals is the second significant step towards normalisation, after the resumption of Kailash Mansarovar pilgrimage. China welcomes India decision on tourist visas The Chinese foreign ministry said, "This is a positive move. Easing cross-border travel serves the interests of all parties. China will maintain communication and consultation with India to further facilitate travel between the two countries." Chinese foreign minister and special representative (SR) for boundary talks Wang Yi is expected to visit India soon for the next round of SR (special representative) talks with NSA Ajit Doval and, with the thaw in ties holding up, Modi himself is likely to visit China for the SCO summit, to be held Aug 31-Sept 1. Tired of too many ads? go ad free now If it happens, this will be Modi's first visit to the country in seven years. During his recent visit to China, foreign minister S Jaishankar had said, while citing the complex international situation, that as neighbouring nations and major economies, an open exchange of views and perspectives between India and China was very important. In the Working Mechanism for Consultation & Coordination (WMCC) talks on India-China border affairs, according to an Indian readout, the two sides agreed to maintain regular exchanges and contacts on issues related to the boundary affairs at the diplomatic and military levels through established mechanisms. The focus was also on the upcoming SR talks for which Wang will be in India. "The two sides also prepared for the next round of Special Representatives' talks on the India-China boundary question to be held in India later this year," the Indian readout said. Doval had travelled to China for the last round of SR boundary talks in Dec 2024. Doval and Wang had then reiterated the importance of maintaining a "political perspective of the overall bilateral relationship" while seeking a fair, reasonable and mutually acceptable framework for settlement of boundary question, and resolved to inject vitality into the process.
