Indogulf Cropsciences IPO
Indogulf Cropsciences IPO — date, price band, lot size & details 2025
Indogulf Cropsciences listed on 3 Jul 2025 at ₹111, flat to the ₹111 issue price.
Indogulf Cropsciences makes crop protection products, plant nutrients and biologicals. It sells through 5,772 distributors in India and 129 partners across 34 countries.
Stock price
Indogulf Cropsciences is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 10 November.
- Open 26 Jun 2025
- Close 30 Jun 2025
- Allotment 01 Jul 2025
- Refund/credit 02 Jul 2025
- Listing 03 Jul 2025
Issue summary
The terms of the offer, as filed.
| IPO Dates | 26 to 30 Jun, 2025 |
|---|---|
| Price Band | ₹105 – ₹111 |
| Face Value | ₹10 |
| Lot Size | 135 Shares |
| Issue Size | ₹200 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Employee Discount | Rs 11.00 per share |
| Registrar | Bigshare Services Private Limited |
| Min Investment | ₹ 14,985 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 135 shares at the ₹111 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 135 | ₹14,985 |
| Retail (max) | 13 | 1,755 | ₹1,94,805 |
| S-HNI (min) | 14 | 1,890 | ₹2,09,790 |
| S-HNI (max) | 66 | 8,910 | ₹9,89,010 |
| B-HNI (min) | 67 | 9,045 | ₹10,03,995 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 490.23 crore in FY2022 to Rs 555.79 crore in FY2024.
- 02The sales network included 5,772 distributors in India and 129 partners in 34 countries.
- 03Rs 160.05 crore of the Rs 200 crore issue was fresh capital.
- 04Rs 14.00 crore of the proceeds was for an in-house dry flowable plant.
- 05Net worth rose from Rs 180.51 crore on 31 March 2022 to Rs 265.43 crore on 31 December 2024.
Risks · 7
- 01The P/E was 24.27 at the upper band of Rs 111, based on post-issue EPS of Rs 4.57.
- 02Total borrowing rose from Rs 154.56 crore on 31 March 2024 to Rs 206.30 crore on 31 December 2024.
- 03Profit after tax has moved sideways, at Rs 26.36 crore in FY2022 and Rs 28.23 crore in FY2024.
- 04The PAT margin was 5.11% and return on equity was 12.2%.
- 05Agrochemical demand depends on monsoon and crop cycles, and total income was almost flat at Rs 552.19 crore in FY2023 and Rs 555.79 crore in FY2024.
- 06Rs 65.00 crore of the proceeds was for working capital.
- 07Promoters held 96.86% before the issue and held 68% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Indogulf Cropsciences offer document.
| Metric | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 597.81 | 542.25 | 517.51 | 413.59 |
| Total Income | 466.31 | 555.79 | 552.19 | 490.23 |
| Profit After Tax | 21.68 | 28.23 | 22.42 | 26.36 |
| EBITDA | 44.78 | 55.74 | 49.04 | 47.24 |
| NET Worth | 265.43 | 231.65 | 203.25 | 180.51 |
| Reserves and Surplus | 216.64 | 208.01 | 179.60 | 156.87 |
| Total Borrowing | 206.30 | 154.56 | 189.22 | 101.38 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Indogulf Cropsciences RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Indogulf Cropsciences IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹5.79 | ₹4.57 |
| P/E Ratio (x) | 19.18 | 24.27 |
| Market Cap at Offer Price (₹ Cr) | ₹415.63 | ₹526.58 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹111 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹164.75 Cr of the issue is earmarked to named objects.
Indogulf Cropsciences IPO Anchor Investors
5 anchor investors across 5 fund houses committed ₹58.20 Cr a day before the issue opened.
| Anchor Investor | Fund House | Shares | Amount (₹ Cr) | % of Anchor Book |
|---|---|---|---|---|
| Abakkus Diversified Alpha Fund | Abakkus Mutual Fund | 2,540,538 | 28.20 | 48.45% |
| Viney Growth Fund | Viney | 1,351,351 | 15.00 | 25.77% |
| Swyom India Alpha Fund | Swyom | 450,451 | 5.00 | 8.59% |
| Sunrise Investment Trust-Sunrise Investment Opportunities Fund | Sunrise | 450,451 | 5.00 | 8.59% |
| Rajasthan Global Securities Pvt.ltd. | Rajasthan Global Securities | 450,451 | 5.00 | 8.59% |
| Total anchor allocation | 58.20 | |||
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
The company has four manufacturing facilities covering about twenty acres. These are at Samba in Jammu and Kashmir and at Nathupur and Barwasni in Haryana.
Its sales network covers 22 states and 3 union territories, with 169 business partners and 5,772 distributors. Abroad it has 129 partners in 34 countries.
The IPO was Rs 200 crore, with Rs 160.05 crore of fresh issue and Rs 39.95 crore of offer for sale. Rs 65.00 crore was planned for working capital.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Indogulf Cropsciences IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Systematix Corporate Services Limited
8 issues handledBest listing: ESDS Software Solution (+76.5%). Weakest: Acevector (-11.5%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Indogulf Cropsciences?
The current Grey Market Premium is ₹15, or 14% over the issue price.
What is the Indogulf Cropsciences IPO price band?
₹105 to ₹111, on a face value of ₹10.
When is the allotment?
The basis of allotment is 1 July 2025, with listing on 3 July 2025.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Bigshare Services Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
