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Indogulf Cropsciences makes flat D-street debut, lists at ₹111 on BSE
Indogulf Cropsciences shares underperformed its grey market expectations. Prior to the listing, the company's shares were commanding a grey market premium (GMP) of ₹18, or 16.2 per cent, with unofficial trading quoting the stock at ₹129 apiece, according to market sources.
Indogulf Cropsciences IPO details
The ₹200 crore IPO comprised a fresh issue of 14.4 million shares aggregating to ₹160 crore and an offer for sale (OFS) of 3.6 million shares worth ₹40 crore. The IPO was open for bidding between June 26 and June 30, 2025, with allotment finalised on July 1.
The Indogulf Cropsciences IPO price band was set in the range of ₹105-₹111 per share. Retail investors were required to bid for a minimum of one lot comprising 135 shares worth ₹14,985 at the upper end price.
Bigshare Services was the issue registrar. Systematix Corporate Services was the sole book-running lead manager.
According to the red herring prospectus (RHP), the company plan to use ₹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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