India Pesticides files IPO papers with Sebi, aims to raise Rs 800 crore
India Pesticides will utilise net fresh issue proceeds for funding working capital requirements and general corporate purposes. February 10, 2021 / 01:27 PM IST
Uttar Pradesh-based agrochemical technicals company India Pesticides filed draft red herring prospectus with the capital market regulator for its initial public offering on February 8.
The company aims to raise Rs 800 crore via its public issue which consists of a fresh issue of Rs 100 crore and an offer for sale of Rs 281.4 crore by promoter Anand Swarup Agarwal and Rs 418.6 crore by selling shareholders.
The company and its selling shareholder may, in consultation with the book running lead managers, consider a further pre-IPO placement issue of Rs 75 crore. If the pre-IPO placement takes place, the fresh issue size will get reduced accordingly.