India Pesticides IPO: Uttar Pradesh based agrochemical technical company India Pesticides is going to IPO. The company aims to raise Rs 800 crore through an IPO. For this, India Pesticides has submitted the necessary documents with the market regulator SEBI. According to the news agency, 100 million fresh issues will be issued in the IPO of India Pesticides, while promoters and share holders will reduce the share of 700 crore shares through offer for sale.
Price band and lot size
The promoter of the company Anand Swarup Aggarwal will sell 281.4 crore shares through the offer for sale, while the shares of 418.6 crore will be put up for sale by the share holders. Axis Bank and JM Financial will be the book running lead managers. At the same time, KFin Technologies will be the registrar for this issue. The price band and lot size for Shaser are yet to be decided. It will be announced soon.
Where will the fund be used?
The company says that the funds raised through the IPO will be used for capital requirements to increase business. At the same time, the fund will also be used in general corporate purpose.
About the company
The India operation was started by India Pesticides in 1984. It is a UP based company. The company is in the formulation business in herbicide, insecticide and fungicide segments. It is among the leading companies of Dunisa in its region. To control the fungal in the crop, the company has better products, which are in demand worldwide. The company has 2 manufacturing facilities in Lucknow and Hardoi.
The company has a capacity of 19500 tonnes in technical and 6500 tonnes in formulation. The company currently has registration and license for the sale of 22 agro chemical technologies and 124 formulations in India, as well as the export of 27 agro chemical technologies and 34 formulations.