Indogulf Cropsciences IPO to Open on June 26; Price Band Set at ₹105–₹111 per Share

Indogulf Cropsciences Unveils IPO Plan to Fuel Expansion and Innovation

BILKULONLINE

Ahmedabad, June 24: Indogulf Cropsciences Limited is set to launch its maiden Initial Public Offering (IPO) on Thursday, June 26, 2025. The price band for the IPO has been fixed at ₹105 to ₹111 per equity share of face value ₹10 each. The issue will close on Monday, June 30, 2025.

Investors can bid for a minimum of 135 equity shares and in multiples thereof. The IPO comprises a fresh issue worth ₹160 crore and an offer for sale (OFS) of up to 36,03,603 equity shares by existing shareholders Om Prakash Aggarwal (HUF) and Sanjay Aggarwal (HUF). At the upper price band, the total issue size aggregates to ₹200 crore.

The proceeds from the fresh issue will be used primarily to fund working capital requirements (₹65 crore), repay or prepay borrowings (₹34.12 crore), set up an in-house dry flowable plant in Barwasni, Haryana (₹14 crore), and for general corporate purposes.

 

 

Established in 1993, Indogulf Cropsciences operates across three key verticals—crop protection, plant nutrients, and biologicals. The company manufactures and markets a diverse range of formulations including water dispersible granules (WDG), suspension concentrate (SC), capsule suspension (CS), ultra-low volume (ULV), emulsion in water (EW), and others. It caters to crops such as cereals, pulses, oilseeds, fruits, and vegetables.

Indogulf is among the first few Indian companies to manufacture Pyrazosulfuron Ethyl technical with 97% purity and has been exporting to over 34 countries. It is recognized as a ‘Two Star Export House.’

The company operates four manufacturing facilities in Jammu & Kashmir and Haryana, and has subsidiaries in Australia and Delhi. Its customer base includes prominent names like Crystal Crop Protection, Krishi Rasayan Exports, and Parijat Industries, while it sources raw materials from both domestic and international suppliers including Coromandel International and companies in China.

As of April 30, 2025, Indogulf Cropsciences had a network of 192 institutional business partners, 6,916 domestic distributors, 143 overseas business partners, 17 stock depots, and 6 sales offices, ensuring presence across 22 Indian states and 3 Union Territories.

Indogulf Cropsciences Limited’s Sanjay Aggarwal (MD), Manoj Gupta (CFO), Vijay Vir Singh (VP – Sales & Marketing), and Sanjay Chaudhary (VP – Strategy & Corporate Affairs) interacted with the media alongside Systematix Group’s Investment Banking Directors Ankit Gor and Amit Kumar to announce the IPO details.

“We believe this IPO marks a strategic milestone in our journey toward expanding domestic and international reach,” said Sanjay Aggarwal, Managing Director of Indogulf Cropsciences. “With a strong product pipeline and established market presence, we are well-positioned for future growth.”

CFO Manoj Gupta added, “The capital raised will strengthen our balance sheet and help us scale operations, especially by investing in new technologies and capacities.”

Ankit Gor of Systematix Corporate Services commented, “Indogulf’s robust fundamentals and consistent growth trajectory make this offering a compelling investment opportunity for stakeholders across categories.”

Financially, the company reported a revenue of ₹552.23 crore in FY24, up slightly from ₹549.66 crore in FY23. Profit after tax rose 25.91% from ₹22.42 crore to ₹28.23 crore in the same period. For the nine months ended December 31, 2024, it posted revenue of ₹464.19 crore and profit after tax of ₹21.68 crore.

Systematix Corporate Services Limited is the sole book-running lead manager for the issue, while Bigshare Services Private Limited is the registrar.

The IPO is being made through the book-building route, with 50% of the net offer reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 35% for retail individual investors.

• Disclaimer: For complete IPO details, risk factors, and investment guidance, refer to the Red Herring Prospectus filed with SEBI and available at www.sebi.gov.in. 

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