How much is reserved for whom?
50% of the IPO is reserved for Qualified Institutional Buyers (QIBs). At the same time, 35 percent will be kept for retail investors. Apart from this, 15 percent share will be kept reserved for non-institutional investors (NIIs). The company’s shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). According to the company, promoter Anand Swaroop Agarwal will bring an offer for sale (OFS) worth Rs 281.4 crore. At the same time, shares worth Rs 418.6 crore of shareholders will also be sold.
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Where will the IPO proceeds be used?
Uttar Pradesh-based company India Pesticides may consider pre-IPO placement of Rs 75 crore. For this, it will consult merchant bankers. The company said that the proceeds from the new issue will be used for working capital requirements and general corporate business. Axis Capital Limited and JM Financial Limited have been appointed as the lead managers for the book running of this IPO, while KFin Technologies Private Limited is its registrar.
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India Pesticides is an agrochemical company
India Pesticides Research and Development based Technical Agrochemical Manufacturer. In other words, it is an agrochemical technical company focused on research and development. The company also has a business of formulations in the Herbicides, Insecticides and Fungicide segments. Currently, the company is also manufacturing Active Pharmaceutical Ingredients (APIs). Let us inform that India is one of the largest companies in the world in terms of production capacity of pesticides Captan, Folpet and Thiocarbamate insecticides.