Monday, July 05, 2021

India Pesticides IPO listed at 22% premium on D-Street

It's another positive listing for an IPO as India Pesticides listed at 22% premium against their issue price. The IPO share listed at ₹350 on NSE and ₹360 on BSE respectively. The share listed with 18% premium on NSE and 22% premium on BSE against the issue price of ₹296 (higher band). The stock hit a high of ₹368 on NSE and ₹368 on BSE. (Check the latest India Pesticides Share Price)

India Pesticides

We have seen the recent IPOs like Dodla Dairy, KIMS and Shyam Metalics debuted with very good listing gain. As per the market speculations the IPO listing was expected with 20-25% listing gain as the grey market premium was active at 50-60 level.

India Pesticides raised ₹800 crore via initial public offer started on 23 June and ended on 25 June 2021. The company fixed the price band at ₹296 on a higher band with a face value of ₹1. The IPO was subscribed 29.04x times overall in that QIBs was subscribed 42.95 times, non-institutional investors 51.88 times and retail investors (RIIs) was subscribed 11.30 times.

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India Pesticides IPO Details

Most of the brokerage houses said investors to subscribe the IPO for short and long term gain. After the GMP stabled around 50-60 level the stock expected to list at premium and it reacted same on the listing day.

The company is one of the leading agrochemicals manufacturers in India with two business verticals Technicals & Formulations. They are sole manufacturer of Folpet, Thiocarbamate, and Herbicide also manufacture 30+ formulations of insecticides, fungicides, and herbicides. The company exports their technicals in Asia, Africa, Australia and Europe. The provide their agrochemical formulations to domestic players like Syngentia Asia Pte Ltd, UPL Ltd, ASCENZA AGRO, S.A., Conquest Crop Protection Pty Ltd, Sharda Cropchem Limited, and Stotras Pty Ltd.