IPO of Indogalf Cropsines will open on June 26, price band 105-111 rupees per share, learn fresh GMP
Crop safety Product manufacturer Indogalf Cropsinesus has fixed a price band of Rs 105-111 per share for its initial public issue (IPO) of Rs 200 crore. The company said in a statement on Monday that the IPO will open on 26 June and will conclude on 30 June. Big (anchor) investors will be able to bid on 25 June. This is the first IPO of Indogalf Cropsinsians. According to IPO documents, it is a combination of a new share of Rs 160 crore and a sale of 36.03 lakh shares. Out of this, Rs 65 crore will be used for funding of working capital requirements, Rs 34.12 crore loan payment, Rs 14 crore for capital expenditure and general corporate work.
The company has been working since 1993
Indogalf Cropsinsage started its operations in 1993. In India, this crop is working to make safety products, plant nutrients and organic materials. In 2019, the company produced Spirromasifen Technical with a 96.5% purity level and became one of the leading local producers of Pairazosulfuron Ethyl Technical with 97% purity in India. The distribution network of Indogalf extends to 22 states and 3 union territories across India, which has the support of 169 business partners, 5,772 distributors and 129 partners in 34 countries around the world.
What is the fresh GMP going on?
According to Investgrain, the fresh GMP of the Indogalf Cropsinsage IPO is ₹ 11. With a price band of Rs 111, the estimated listing price of the Indogalf Cropsinsage IPO is ₹ 122 (Cap Price + Today’s GMP). The expected percentage profit/loss per share is 9.91%. The shares of Indogalf Cropsinsage are expected to be listed on BSE and NSE on 3 July.
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