Indogulf Cropsciences Lists Flat at ₹111 on NSE & BSE
Indogulf Cropsciences made a flat stock market debut today. The shares listed at par with the issue price of ₹111 on NSE and BSE, yielding zero listing gains for investors who got the IPO allotment.
The ₹200 crore IPO-₹160 crore fresh issue and ₹40 crore OFS [offer-for-sale] was priced in the ₹105–111 band, with a ₹111 final issue price.
The IPO was open for public subscription from June 26, 2025, to June 30, 2025, during which it received 34,72,66,305 bids against 1,33,65,710 total shares offered. It ended with a strong subscription of ~26 times overall, with retail at 14.8 times, NIIs at 48 times, and QIBs at 33 times.
Net proceeds from the fresh issue will be used to fund working capital requirements, set up an in-house dry flowable (DF) plant at Barwasni, Sonipat, Haryana, repay/pre-pay the company’s outstanding borrowings, and for general corporate purposes.
Indogulf Cropsciences manufactures crop protection products, plant nutrients, and biologicals. Its products are exported to over 34 countries. The government of India has recognised Indogulf Cropsciences as a ‘Two Star Export House’.
On the financial front, the company’s revenue from operations for the nine-month period ended December 31, 2024, stood at ₹464.19 crore, while the total profit was ₹21.68 crore.
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