New Delhi: Agrochemical Company India Pesticides beginning offer deal will open for public membership on Wednesday.
The organization on Tuesday said it has raised Rs 240 crore from anchor financial backers, in front of its IPO. Continues from the new issue would be utilized towards financing the functioning capital prerequisites and general corporate purposes.
India Pesticides is a R&D centered agrochemical specialized organization, which has developing details business in herbicides, bug sprays and fungicide portions. It additionally fabricates dynamic drug fixings.
It is the solitary Indian producer and among the main five organizations all around the world for a few specialized items, for example, folpet and cynomoxanil, used to make fungicides that control parasitic development across an assortment of harvests.
India Pesticides as of now works two assembling offices at Lucknow and Hardoi in Uttar Pradesh.
Here is all you need to think about the India Pesticides IPO
The organization has fixed a value band of Rs 290-296 an offer for the Initial Public Offer (IPO).
The IPO, which will open today (June 23), will close on June 25. Pivot Capital and JM Financial are the book running lead directors to the backer.The organization has chosen to distribute 81,08,107 value offers to 12 anchor financial backers at Rs 296 each.
At this value, the organization will get Rs 239.99 crore. Among the unfamiliar portfolio Investors who partook in the anchor book were Abu Dhabi Investment Authority, Tara Emerging Asia Liquid Fund and BNP Paribas.
The homegrown financial backers were SBI Mutual Fund, Nippon India Mutual Fund, Tata Mutual Fund, Bajaj Allianz Life Insurance Company, Bharti AXA Life Insurance Company and Winro Commercial India Ltd.
The Rs 800-crore IPO involves new issuance of value shares adding up to Rs 100 crore and a proposal of offer for value shares collecting up to Rs 281.4 crore by advertiser Anand Swarup Agarwal and up to Rs 418.6 crore by other selling investors.
The organization has fixed a value band of Rs 290-296 an offer for the Initial Public Offer (IPO), which will open on June 23 and close on June 25.
Pivot Capital and JM Financial are the book running lead directors to the backer.