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.
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.