{"id":2288,"date":"2021-06-22T15:22:27","date_gmt":"2021-06-22T15:22:27","guid":{"rendered":"https:\/\/www.paytmmoney.com\/blog\/?p=2288"},"modified":"2021-06-22T15:23:47","modified_gmt":"2021-06-22T15:23:47","slug":"india-pesticides-limited-ipo-details-dates-price-overview","status":"publish","type":"post","link":"https:\/\/www.paytmmoney.com\/blog\/india-pesticides-limited-ipo-details-dates-price-overview\/","title":{"rendered":"India Pesticides Limited IPO Details- Dates, Price &#038; Overview"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Agro-chemical manufacturer India Pesticides initial public offer (IPO) worth Rs. 800 crore will open for subscription on June 23, 2021 and close on June 25, 2021. The total offer size is up to Rs. 800 crore with a fresh issue of equity shares worth Rs. 100 crore and an offer for sale up to Rs. 700 crore.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The pesticide major has fixed the price band at Rs. 290 &#8211; 296 per piece.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">KFin Technologies Pvt Ltd is the registrar for this particular IPO while Axis Capital and JM Financial are book running lead managers to the offer.\u00a0<\/span><\/p>\n<h3><strong>Know the company :\u00a0<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">Uttar-Pradesh-based India Pesticides Ltd is a Research and Development (R&amp;D) driven agro-chemical manufacturer of Technicals with a growing Formulations business. It is amongst the fastest growing agro-chemical companies in India in terms of volume of technicals manufactured in Fiscal 2020. The company is also the sole Indian manufacturer and among top five manufacturers globally for several Technicals, such as, Folpet and Thiocarbamate Herbicide. It also manufactures herbicide, insecticide and fungicide Formulations.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The company has a strategic focus on R&amp;D and its R&amp;D capabilities include two well-equipped in-house laboratories registered with the DSIR.\u00a0 As of date of this Red Herring Prospectus, it has obtained registrations and license to manufacture from the CIBRC and the Department of Agriculture &#8211; Uttar Pradesh for 22 agro-chemical Technicals and 125 Formulations for sale in India, and 27 agro-chemical Technicals and 35 Formulations for export.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It manufactures and sells various formulations of insecticides, fungicide and herbicides, growth regulators and acaricides, which are ready-to-use products. As of March 31, 2021, it manufactures over 30 Formulations.<\/span><\/p>\n<h3><strong>Details of the IPO:<\/strong><\/h3>\n<ul>\n<li><span style=\"font-weight: 400; font-family: Lato;\">The total issue amount is Rs. 800 crores out of which, fresh issue is fixed at Rs. 100 Cr and Offer for Sale at Rs. 700 Cr<\/span><\/li>\n<li><span style=\"font-family: Lato;\">The post issue implied market cap is Rs. 3,409 crores at upper band<\/span><\/li>\n<li><span style=\"font-family: Lato;\">The IPO will open on June 23, 2021 and close on June 25, 2021<\/span><\/li>\n<li><span style=\"font-family: Lato;\">The price band of each share is fixed between Rs. 290 to Rs. 296<\/span><\/li>\n<li><span style=\"font-family: Lato;\">There are upto 27,586,206 equity shares on offer at lower band<\/span><\/li>\n<li><span style=\"font-family: Lato;\">The face value of each share is Rs. 1<\/span><\/li>\n<li><span style=\"font-family: Lato;\">The lot size is 50 shares<\/span><\/li>\n<li><span style=\"font-family: Lato;\">Category: Issue break-up 100 % , QIB: 50%\u00a0 NIB: 15%\u00a0 Retail: 35%,\u00a0 Total: 100%<\/span><\/li>\n<\/ul>\n<h3><strong>IPO Timeline:\u00a0<\/strong><\/h3>\n<p><img decoding=\"async\" class=\"wp-image-2290 size-full aligncenter\" src=\"https:\/\/www.paytmmoney.com\/blog\/wp-content\/uploads\/2021\/06\/IPO-Timeline_21-June.png\" alt=\"IPO Timeline\" width=\"662\" height=\"614\" srcset=\"https:\/\/www.paytmmoney.com\/blog\/wp-content\/uploads\/2021\/06\/IPO-Timeline_21-June.png 662w, https:\/\/www.paytmmoney.com\/blog\/wp-content\/uploads\/2021\/06\/IPO-Timeline_21-June-300x278.png 300w\" sizes=\"(max-width: 662px) 100vw, 662px\" \/><\/p>\n<h3><strong>Financials of the company:<\/strong><\/h3>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-2289 size-full\" src=\"https:\/\/www.paytmmoney.com\/blog\/wp-content\/uploads\/2021\/06\/Financial-Performance_21-June.png\" alt=\"IPO\" width=\"957\" height=\"1043\" srcset=\"https:\/\/www.paytmmoney.com\/blog\/wp-content\/uploads\/2021\/06\/Financial-Performance_21-June.png 957w, https:\/\/www.paytmmoney.com\/blog\/wp-content\/uploads\/2021\/06\/Financial-Performance_21-June-275x300.png 275w, https:\/\/www.paytmmoney.com\/blog\/wp-content\/uploads\/2021\/06\/Financial-Performance_21-June-940x1024.png 940w, https:\/\/www.paytmmoney.com\/blog\/wp-content\/uploads\/2021\/06\/Financial-Performance_21-June-768x837.png 768w\" sizes=\"(max-width: 957px) 100vw, 957px\" \/><\/p>\n<h3><strong>Objective of the offer:<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">The company proposes to utilise the Net Proceeds of the fresh offer towards the following. Through the IPO, the funding working capital requirements of the Company. The proceeds will be used for general\u00a0 corporate purposes.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Also, in addition to the aforementioned objectives, the Company expects to receive the benefits of listing of the Equity Shares on the Stock Exchanges and enhancement of it\u2019s brand name and creation of a public market for their Equity Shares in India.<\/span><\/p>\n<h3><strong>Strengths of the company:<\/strong><\/h3>\n<ol>\n<li><span style=\"font-weight: 400; font-family: Lato;\"> The company is among the fastest-growing agrochemical manufacturers in terms of volume of Technicals manufactured.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400; font-family: Lato;\"> The company is focused strongly on Research and Development (R&amp;D) and product development capabilities.<\/span><\/li>\n<li><span style=\"font-weight: 400; font-family: Lato;\"> The company boosts a\u00a0 portfolio of niche and quality specialized products.<\/span><\/li>\n<li><span style=\"font-weight: 400; font-family: Lato;\"> They maintain a long-term relationship with key customers.<\/span><\/li>\n<li><span style=\"font-weight: 400; font-family: Lato;\"> The company has an advanced manufacturing facilities with focus on environment, health and safety.<\/span><\/li>\n<li><span style=\"font-weight: 400; font-family: Lato;\"> It has string sourcing capabilities and extensive distribution network.<\/span><\/li>\n<li><span style=\"font-weight: 400; font-family: Lato;\"> Experienced promoters and strong management team.<\/span><\/li>\n<\/ol>\n<h3><strong>Risks involved:<\/strong><\/h3>\n<ol>\n<li><span style=\"font-weight: 400; font-family: Lato;\"> The company is overcoming hurdles created by the Covid-19 pandemic.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400; font-family: Lato;\"> The company is unable to meet the quality standard norms prescribed by the central and state governments in the country and governments of other countries where the company exports products.<\/span><\/li>\n<li><span style=\"font-weight: 400; font-family: Lato;\"> The company is showcasing inability to identify and understand evolving industry trends, technological advancements, customer preferences and develop new products may adversely affect business.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400; font-family: Lato;\"> It is subjected to strict technical specifications, quality requirements, regular inspections and audits by its customers including various Multi National Companies in the market.<\/span><\/li>\n<li><span style=\"font-weight: 400; font-family: Lato;\"> The current scenario is such that its business is working capital intensive and\u00a0 there is insufficient cash flows from its operations or inability to borrow to meet our working capital requirements will impact business.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400; font-family: Lato;\"> The Company needs to comply with certain restrictive covenants under its financing agreements.<\/span><\/li>\n<\/ol>\n<p><em><span style=\"font-weight: 400;\">Sources &#8211; RHP, BRLM<\/span><\/em><\/p>\n<p><em><span style=\"font-weight: 400;\">Disclaimer \u2013 This content is purely for informational purposes and is in no way advice or recommendation.<\/span><\/em><\/p>\n<p><em><span style=\"font-weight: 400;\">Investment in the securities market is subject to market risks, read all the related documents carefully before investing. Paytm Money Ltd SEBI Reg No. Broking &#8211; INZ000240532. NSE (90165), BSE(6707) Regd Office: 136, 1st Floor, Devika Tower, Nehru Place, Delhi \u2013 110019. visit <\/span><a href=\"http:\/\/www.paytmmoney.com\/\"><span style=\"font-weight: 400;\">www.paytmmoney.com<\/span><\/a><span style=\"font-weight: 400;\"> for complete disclaimers.<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Agro-chemical manufacturer India Pesticides initial public offer (IPO) worth Rs. 800 crore will open for subscription on June 23, 2021 and close on June 25, 2021. The total offer size is up to Rs. 800 crore with a fresh issue of equity shares worth Rs. 100 crore and an offer for sale up to Rs.<a href=\"https:\/\/www.paytmmoney.com\/blog\/india-pesticides-limited-ipo-details-dates-price-overview\/\">Continue reading <span class=\"sr-only\">&#8220;India Pesticides Limited IPO Details- Dates, Price &#038; Overview&#8221;<\/span><\/a><\/p>\n","protected":false},"author":23,"featured_media":2291,"comment_status":"open","ping_status":"open","sticky":false,"template":"single-classic-ns.php","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-2288","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo"],"_links":{"self":[{"href":"https:\/\/www.paytmmoney.com\/blog\/wp-json\/wp\/v2\/posts\/2288","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.paytmmoney.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.paytmmoney.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.paytmmoney.com\/blog\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/www.paytmmoney.com\/blog\/wp-json\/wp\/v2\/comments?post=2288"}],"version-history":[{"count":0,"href":"https:\/\/www.paytmmoney.com\/blog\/wp-json\/wp\/v2\/posts\/2288\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.paytmmoney.com\/blog\/wp-json\/wp\/v2\/media\/2291"}],"wp:attachment":[{"href":"https:\/\/www.paytmmoney.com\/blog\/wp-json\/wp\/v2\/media?parent=2288"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.paytmmoney.com\/blog\/wp-json\/wp\/v2\/categories?post=2288"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.paytmmoney.com\/blog\/wp-json\/wp\/v2\/tags?post=2288"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}