There will be a book-building procedure used for the IPO. Qualified institutional buyers will receive up to 50% of the net offer, non-institutional investors will receive at least 15%, and retail individual investors would receive at least 35%. Each equity share would have a face value of Rs 10.
Indogulf Cropsciences Aims to Raise ₹200 Crore
The company Indogulf Cropsciences Ltd., which produces plant nutrients, biologicals, and crop protection products, has submitted its draft documents to the market regulator Sebi in order to seek money through an initial public offering (IPO).
The IPO consists of a new equity share offering of up to Rs 200 crore and an offer by current shareholders to sell up to 38,54,840 equity shares, as stated in the red herring prospectus draft (DRHP).
DRHP; Indogulf Cropsciences Aims to Raise ₹200 Crore
The DRHP states that the proceeds of the new issue will be utilized for general corporate objectives, repayment of some outstanding borrowings (Rs 40 crore), establishment of an internal dry flowable plant in Haryana (Rs 14 crore), and supporting working capital requirements (Rs 100 crore).
There will be a book-building procedure used for the IPO. Qualified institutional buyers will receive up to 50% of the net offer, non-institutional investors will receive at least 15%, and retail individual investors would receive at least 35%.
Each equity share would have a face value of Rs 10.
With its founding in 1993, Indogulf Cropsciences provides institutional and retail clients with solutions to increase crop output.
The company’s four manufacturing facilities are situated in Barwasni, Haryana; Nathupur-I and II, Haryana; and Samba, Jammu & Kashmir. Its sales and distribution network spans over 34 nations worldwide in addition to 22 states and 3 Union Territories in India. (Indogulf Cropsciences Aims to Raise ₹200 Crore)
Account opning link:
- Groww Account- https://app.groww.in/v3cO/kyrp1zph
- Kotak neo Account https://kotaksecurities.ref-r.com/c/i/32531/109103906
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