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Indogulf Cropsciences IPO allotment today; check status, GMP, listing date
The issue was subscribed around 40 per cent on the first day and ended the day with around 93 per cent subscription.
According to NSE data, investors made bids for 347.26 million shares or 25.98 times, compared to the 13.36 million shares on offer by 5 PM on Monday.
The portion allocated for qualified institutional bidders (QIBs) was subscribed 33.26 times, while the non-institutional investors (NIIs) portion saw a subscription of 48.39 times. The quota set aside for retail investors was booked 14.78 times at the same time. The employee portion was booked only 1.09 times.
After the allotment process is completed, investors can verify their IPO allotment status by visiting, the official websites of the National Stock Exchange (NSE), BSE, and Bigshare Services, the registrar for the issue. Alternatively, investors can use the direct links provided below to check their allotment status:
https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
Check Indogulf Cropsciences IPO allotment status on BSE:
https://www.bseindia.com/investors/appli_check.aspx
https://www.bigshareonline.com/ipo_allotment.html
Indogulf Cropsciences IPO grey market premium (IPO)
The unlisted shares of Indogulf Cropsciences were trading at ₹123 in the grey market, commanding a premium of ₹12 or 10.8 per cent compared to the upper price band of ₹111 per share, according to sources tracking unofficial markets.
Indogulf Cropsciences IPO details
The Delhi-based agrochemical company aims to raise ₹200 crore through a public issue, which comprises a fresh share sale of ₹160 and an offer for sale (OFS) of up to 3.6 million shares worth ₹40 crore. Shares of Indogulf Cropsciences are scheduled to be listed on the bourses, NSE and BSE, on Thursday, July 3. Indogulf Cropsciences IPO was available at a price band of ₹105-111 per share
Systematix Corporate Services is the sole book-running lead manager.
According to the red herring prospectus (RHP), the company intends to utilise ₹65 crore from the net fresh issue proceeds for funding its working capital requirements and ₹34.12 crore for repayment or prepayment of certain outstanding borrowings. In addition, ₹14 crore will be used for setting up an in-house dry flowable (DF) plant at Barwasni, District Sonipat in Haryana. The remaining funds will be used for general corporate purposes.
About Indogulf Cropsciences
Incorporated in 1993, New Delhi-based Indogulf Cropsciences specialises in manufacturing crop protection products, plant nutrients, and biologicals in India. It manufactures Spiromesifen technical with 96.5 per cent purity and is one of the first indigenous manufacturers of Pyrazosulfuron Ethyl technical with 97 per cent purity in India. The company manufactures and markets an extensive range of crop protection products, plant nutrients, and biologicals in India.
Indogulf Cropsciences operates four manufacturing facilities including one in Samba (Jammu & Kashmir), two in Nathupur (Haryana) and one in Barswani, (Haryana). The company's diverse product portfolio caters to various crops, including cereals, pulses and oilseeds, fibre crops, plantations, and fruits and vegetables.
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