India’s pesticides rise more than 21% above issue price on stock market debut

India Pesticides Limited made a stellar debut on the stock exchanges today as domestic markets spiked amid the bull market, the agrochemical company’s shares trading at Rs 360 per share, 21.62% or Rs 64 from the issue price of Rs 296 per share. India Pesticides Limited (IPL) is a tech research driven agrochemical manufacturer with a growing formulation business. It is one of the fastest growing agrochemical companies in terms of the amount of technical products manufactured. the first time.

India Pesticides’ initial public offering (IPO) was subscribed 29 times in total last month, with retail investors offering 11.3 times the share reserved for them while non-institutional investors (NII) offering 51 times the reserved share. for the IPO 42 times. With all three parts oversubscribed, the demand for public issues was high. Investors could bid for shares in multiples of 50 shares with a nominal value of Re 1 per share. At the upper end of the price range, this meant a minimum investment of 14,800 rupees.

India Pesticides’ initial public offering was a combination of an Offer to Sell (OFS) worth Rs.700 billion and a new equity offering worth Rs.100 billion. After the issue, the promoter’s stake in the company drops from 82.7% to 59.7%. according to HDFC Securities, it will rise from 17.3% before the IPO to 40.3%.

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