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IPO Alert: India Pesticides Limited gets SEBIâs green signal for IPO
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R&D focused agrochemical technical company India Pesticides Ltd (IPL) , have received capital markets regulator Sebi s approval to raise funds through initial public offering (IPO). The company is looking at raising Rs 800 crore from this fund raising activity.
The public offer comprises a fund raise via a fresh issuance of shares worth Rs 100 crore and Rs 700 crore through an offer-for-sale by promoter and technocrat, Anand Swarup Agarwal and selling shareholder ASA Trust.
The Companyâs revenue from operations for fiscals 2018, 2019, 2020 and the six months ended September 30, 2020 is Rs 253.2 crore, Rs 340.6 crore, Rs 479.6 crore, and Rs 333.8 crore, respectively. The profit after tax is Rs 32.7 crore, Rs 43.8 crore, Rs. 70.5 crore and Rs 72.2 crore, for similar periods. In between FY 2018 to 2020 the company s revenue from operations has grown at a CAGR of 37.63 per cent.
Synopsis
The R&D-focused agrochemical technical company is looking to raise Rs 100 crore via fresh issuance and Rs 700 crore through an offer for sale (OFS) by promoters.
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India Pesticides may decide to undertake a pre-IPO placement of Rs 75 crore.
NEW DELHI: India Pesticides on Wednesday filed the draft red herring prospectus (DRHP) for a Rs 800 crore initial public offering (IPO).
The R&D-focused agrochemical technical company is looking to raise Rs 100 crore via fresh issuance and Rs 700 crore through an offer for sale (OFS) by promoters.
Promoter Anand Swarup Agarwal is looking to sell Rs 281 crore worth of shares in the OFS, while the other selling shareholders intend to offload Rs 419 crore worth of shares.
February 10, 2021
To utilise the net proceeds towards funding the working capital requirements and general corporate purposes Uttar Pradesh-based agrochemical technicals company India Pesticides Ltd has filed a Draft Red Herring Prospectus to raise ₹800 crore through an Initial Public Offering (IPO).
The company intends to raise ₹100 crore through issuance of fresh shares and ₹700 crore through an Offer For Sale (OFS) by promoter Anand Swarup Agarwal (₹281 crore) and another shareholder (₹419 crore). The firm might also raise ₹75 crore through a pre-IPO placement, according to the prospectus filed with the market regulator.
India Pesticides proposes to utilise the net proceeds towards funding the working capital requirements and general corporate purposes.
India Pesticides files DRHP to raise Rs800 cr via IPO
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MUMBAI: Agrochemicals company India Pesticides Ltd has filed a draft red herring prospectus with the Securities Exchange and Board of India to raise Rs800 crore through an initial public offering (IPO).
The IPO will comprise of a fresh issue of Rs100 crore and an offer for sale of Rs281.40 crore by promoter Anand Swarup Agarwal, and ₹418.60 crore by other selling shareholders. As of September, Agarwal held 40.07% stake in the company.
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Proceeds from the issue will be used for funding working capital requirements.