The Rs 800 crore India Pesticides IPO would open for subscription on Wednesday, June 23. The company has fixed the price band for the issue at Rs 290-Rs 296 per share.
About Company
Incorporated in 1984, India Pesticides Limited (IPL) is one of the leading agrochemicals manufacturers in India.
The company operates in two business verticals; 1 Technicals and 2. Formulations.
It manufactures herbicide, fungicide Technicals, and Active Pharmaceuticals Ingredients (APIs). It is the sole Indian manufacturer of several Technicals i.e. Folpet, Thiocarbamate, and Herbicide. The company also manufactures 30+ formulations of insecticides, fungicides, and herbicides.
Currently, the firm has two manufacturing plants UPSIDC Industrial Area at Dewa Road, Lucknow and Sandila, Hardoi in Uttar Pradesh, India with an installed capacity of 19,500 MT for agrochemicals and 6500 MT for formulations.
IPO details
| Open Date: | Jun 23 2021 |
| Close Date: | Jun 25 2021 |
| Total Shares: | 27027027 Shares |
| Face Value: | ₹ 10 Per Equity Share |
| Issue Type: | Book Building |
| Issue Size: | 800 Crore |
| Offer for Sale: | 700 Crore |
| Fresh-Issue: | 100 Crore |
| Lot Size: | 50 Shares |
| Issue Price: | ₹ 290-296 Per Equity Share |
| Listing At: | NSE,BSE |
| Listing Date: | Jul 05 2021 |
Competitive Strength
- Among the top 5 global players of Folpet, Thiocarbamate, and Herbicide Technicals.
- Diversified product portfolio with specialized products.
- Domestic as well as international market presence.
- Consistent track record of financial performance.
- Strong Research & Development (R&D) capabilities.
Object of the issue
- To fiannce the working capital requirements of the company.
- To meet general corporate purposes.
Company’s Financial
| Particulars (in Cr.) | Mar-21 | Mar-20 | Mar-19 |
| Sales | 648 | 479 | 340 |
| Cost of Material Consumed | 330 | 256 | 194 |
| Change in Inventories | -19 | -3 | -7 |
| Employee Benefits Expense | 22 | 16 | 13 |
| Other Expenses | 132 | 116 | 74 |
| Operating Profit | 183 | 93 | 65 |
| OPM % | 28.21% | 19.51% | 19.16% |
| Other Income | 6 | 10 | 5 |
| Interest | 3 | 5 | 5 |
| Depreciation | 6 | 5 | 3 |
| Profit before tax | 179 | 93 | 61 |
| Total Tax Exps | 45 | 22 | 17 |
| Net Profit | 134 | 70 | 43 |
| NPM % | 20.73% | 14.76% | 12.89% |
| No. of shares | 11.18 | 3.18 | 3.18 |
| EPS in Rs | 12 | 6 | 4 |
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