India Pesticides Rs 800-crore IPO is scheduled to open for subscription next week on June 23, 2021. Agrochemical technicals company’s concern will close on June 25. The public concern comprises fresh concern of shares worth Rs one hundred crore and provide-for-sale (OFS) of Rs 281.4 crore by promoter Anand Swarup Agarwal and Rs 418.6 crore by promoting shareholders. The equity shares are proposed to be listed on BSE and NSE. The book operating lead managers to the concern are Axis Capital Ltd and JM Financial Ltd, although the registrar to the provide is KFin Technologies Private Ltd.
India Pesticides’ listed peers are Dhanuka Agritech Ltd, Bharat Rasayan Ltd, UPL Ltd, Rallis India Ltd, PI Industries Ltd, Sumitomo Chemical India Ltd and Atul Ltd. The typical market value to earning (P/E) ratio stands at 47.44x. While the weighted typical return on net worth for fiscals 2019, 2020, 2021 is 30.37 per cent. The business plans to utilise net proceeds towards funding working capital specifications worth Rs 80 crore and for basic corporate purposes.
The business, in red herring prospectus, mentioned all bidders, except anchor investors, mandatorily necessary to use the ASBA approach for participating in the provide by giving particulars of their respective ASBA account in which the corresponding bid quantity will be blocked by SCSBs (Self-Certified Syndicate Bank). India Pesticides is an R&D-driven agrochemical manufacturer of Technicals with a expanding Formulations organization. The business is the sole Indian manufacturer of 5 Technicals and amongst the top makers globally for Captan, Folpet and Thiocarbamate Herbicide, in terms of production capacity (Source: F&S Reports).
India Pesticides is diversified into manufacturing herbicide and fungicide Technicals and active pharmaceutical components (APIs), it also manufactures herbicide, insecticide and fungicide Formulations. It manufactures generic Technicals that are utilised in the manufacturing of fungicides and herbicides as properly as APIs with applications in dermatological items. Certain essential fungicide Technicals that India Pesticides manufactures involve (i) Folpet, used to manufacture fungicides that manage fungal development at vineyards, cereals, crops and biocide in paints and (ii) Cymoxanil, used to manufacture fungicides that manage downy mildews of grapes, potatoes, vegetables and various other crops.
Major herbicide Technicals that the business manufactures involve Thiocarbamate herbicides that have application in field crops, such as, wheat and rice, and are utilised globally. The APIs it manufactures have anti-scabies and anti-fungal applications. It also manufactures and sells many formulations of insecticides, fungicide and herbicides, development regulators and Acaricides, which are prepared-to-use items.
India is at present the fourth-biggest producer of crop protection chemical substances in the world. Multinationals across the globe are taking benefit of expense-successful manufacturing in India along with the availability of skilled labour. India is anticipated to emerge as an export hub for the crop protection chemical substances manufacturing, which will be exported to created and establishing economies about the world.