Indogulf Cropsciences Limited, a leading company in crop protection products and plant nutrients, is getting ready to go public. On September 25, 2024, the Delhi-based company filed its draft prospectus with SEBI to launch an initial public offering (IPO).
The IPO will include a fresh issue of shares worth ₹200 crore, along with an offer for sale (OFS) of 38.54 lakh shares by current shareholders. As part of the OFS, Om Prakash Aggarwal (HUF) and Sanjay Aggarwal (HUF) will sell 15.4 lakh and 23.13 lakh shares, respectively.
Indogulf plans to use the IPO funds for several purposes: ₹100 crore for working capital, ₹40 crore to repay debts, and ₹14 crore to build a new dry flowable (DF) plant in Sonipat, Haryana. The rest will go toward general corporate needs.
Founded in 1993, Indogulf is a key player in agricultural solutions, with a wide range of products in crop protection, plant nutrients, and biologicals. The company has four manufacturing plants in Jammu & Kashmir and Haryana, and exports to over 34 countries.
In the financial year ending March 2024, Indogulf posted a net profit of ₹28.2 crore, a 25.9% increase from the previous year. Revenue grew by 0.5% to ₹552.2 crore, while EBITDA rose by 21.5%, improving margins to 10.8%.
Indogulf operates in 22 states and 3 Union Territories in India, with key clients like Krishi Rasayan Exports and Parijat Industries. It competes with companies like Aries Agro, Best Agrolife, and Dharmaj Crop Guard.
Systematix Corporate Services is managing the IPO, which marks an important moment for India’s agrochemical sector. Investors are eager to see how Indogulf’s public offering unfolds.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
