India Pesticides IPO closes, company to finalise share allotment next week

The pesticide company India Pesticides is expected to finalize the quota criteria the following week after successfully completing the public offering. This was the last IPO in the first half of CY21. The
company completed the same on June 25, after 15 subscriptions, with the help of all types of investors who started offering subscriptions on June 23.
Individual investor contributions are 10 times and non-institutional investor contributions are 15 times. Qualified institution buyers bid 13 times the scheduled portion.
The company raised 800 rupees through an event, which included a new issuance of 100 rupees and an offer to sell 700 rupees by promoters and other selling shareholders. The net funds raised from the new issuance are used for working capital requirements and general corporate purposes. India Pesticides will complete the allocation of shares around June 30th. Investors can check the status of their application on the website of the IPO registrar in a few simple steps. You must select the IPO name IndiaPesticides Limited from the
drop-down and choose one of Application Number, DPID/Client ID or PAN. Therefore, you need to select Application Type (ASBA / NON ASBA) and enter the Application Number, or select NSDL / CDSL and enter the DPID and Client ID, or the PAN number. Finally, enter Captcha and submit it to check the application status. You can also check the
share allocation status on the BSE website. Investors must select Equity and Issue Name (India Pesticides Limited), enter the application number and PAN number, and finally click the search button.
If the information provided by the above investors is correct, it will be displayed on the screen for the number of shares applied for and the number of shares subscribed. After the
allocation is completed, the funds will be refunded around 1 July and the inventory will be deposited in the qualified investor’s Dimat account according to the schedule described in the investment manual.
And finally, stock trading, starting July 5th.
On June 25, the company’s shares were traded in the gray market at a premium of 50 rupees, or 17% at a price of 346 rupees (including the premium). It will be higher than the expected final issue price Rs 296.
“Looking at this IPO listing opportunity, we expect a profit of about 10-20% as the company is fundamentally strong and can be evaluated more than its peers.” Yash Gupta, Angel Broking Stock research.
India Pesticides operates two business areas, Technicalals and Formulations, as one of India’s leading pesticide manufacturers. Manufactures
herbicides, fungicides technologies and APIs. It is the only Indian supplier of several technologies including phor pets, thiocarbamate, herbicides and more. Although technology manufacturing recorded growth of 37.2% year-over-year over FY20-2021, export revenue contributed 56.71% of FY21 total revenue.
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