Following a strong wave of IPOs in India’s capital markets, the agrochemical sector is drawing renewed investor interest as Indogulf Cropsciences Ltd. prepares to launch its public issue aimed at raising ₹200 crore. With increasing focus on agricultural productivity and sustainable farming practices, the industry is poised for strong growth. Rising demand for crop protection and nutrient solutions is creating significant opportunities, supported by government initiatives and expanding export potential. As the sector evolves amid changing market dynamics, Indogulf Cropsciences’ IPO is attracting attention from institutional and retail investors seeking exposure to this growth story.
Here’s a look at the key details of the Indogulf Cropsciences IPO, the company’s background, financials, and industry outlook.
About Indogulf Cropsciences Limited
Indogulf Cropsciences Ltd., founded in 1993 and headquartered in Delhi, is a leading Indian agrochemical company specialising in the manufacture and marketing of crop protection products, plant nutrients, and biologicals.
The company operates four manufacturing facilities one in Jammu and Kashmir and three in Haryana strengthening its production infrastructure. Indogulf exports its products to over 34 countries worldwide and maintains an extensive sales and distribution network across 22 states and 3 Union Territories in India.
The company caters to both retail and institutional customers, aiming to improve crop productivity through innovative and sustainable agricultural solutions.
Indogulf Cropsciences Ltd. IPO Details
Indogulf Cropsciences Ltd. IPO opens on June 26, 2025, and closes on June 30, 2025, aiming to raise up to ₹200 crore through a fresh issue and an Offer for Sale. The price band is ₹105 to ₹111 per equity share, with a face value of ₹10.
Important IPO Timeline
| Event | Date |
| IPO Open Date | Jun 26, 2025 |
| IPO Close Date | Jun 30, 2025 |
| Allotment Date | Jul 1, 2025 |
| Initiation of Refunds | Jul 2, 2025 |
| Credit of Shares to Demat | Jul 2, 2025 |
| Listing Date (Tentative) | Jul 3, 2025 |
| UPI Mandate Cut-off | 5 PM on June 30, 2025 |
Key IPO Details
Here is the table on the Indogulf Cropsciences Ltd. IPO Review:
| Particulars | Details |
| Face Value | ₹10 per share |
| Issue Price Band | ₹105 to ₹111 per share |
| Lot Size | 135 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size |
1,80,18,017 shares (aggregating up to ₹200.00 Cr) |
| Fresh Issue |
1,44,14,414 shares (aggregating up to ₹160.00 Cr) |
| Offer for Sale |
36,03,603 shares of ₹10 (aggregating up to ₹40.00 Cr) |
| Net Offered to Public |
1,80,18,017 shares (aggregating up to ₹200.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing at | BSE, NSE |
| Shareholding (Pre-Issue) | 4,87,87,456 shares |
| Shareholding (Post-Issue) | 6,32,01,870 shares |
Lot Size of Indogulf Cropsciences Ltd. IPO
Here is the table of lot sizes for each category of investors:
|
Application Type |
Lots | Shares | Amount (at upper price band) |
| 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 |
Indogulf Cropsciences Ltd. Financials
The IPO values Indogulf Cropsciences Ltd.’s market capitalisation at ₹701.54 crores. The company has received recognitions such as the “Two Star Export House” status and operates under ISO-certified processes, reflecting its operational credibility and compliance with international standards.
As of March 31, 2024, the company’s financial indicators include:
Key Performance Indicators (as of Mar 31, 2024)
- Return on Equity (ROE): 12.2%
- Return on Capital Employed (ROCE): 11.93%
- Debt-to-Equity Ratio: 0.67
- Return on Net Worth (RoNW): 12.19%
- PAT (Profit After Tax) Margin: 5.11%
- EBITDA Margin: 10.09%
- Price to Book Value: 1.13
Company Financial Snapshot
| Period Ended | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets (₹ Cr) | 597.81 | 542.25 | 517.51 | 413.59 |
| Revenue (₹ Cr) | 466.31 | 556 | 552.19 | 490.23 |
| Profit After Tax (₹ Cr) | 21.68 | 28 | 22.42 | 26.36 |
| EBITDA (₹ Cr) | 44.78 | 56 | 49.04 | 47.24 |
| Net Worth (₹ Cr) | 265.43 | 232 | 203.25 | 180.51 |
| Reserves and Surplus (₹ Cr) | 216.64 | 208.01 | 179.6 | 156.87 |
| Total Borrowing (₹ Cr) | 206.3 | 154.56 | 189.22 | 101.38 |
Indogulf Cropsciences Ltd.: Industry Outlook
- The agrochemical industry in India is experiencing steady growth, driven by increasing demand for crop protection products, plant nutrients, and biologicals.
- Government initiatives and policies aimed at enhancing agricultural productivity are creating a favorable environment for companies in the agrochemical sector.
- The shift towards sustainable and eco-friendly farming practices is influencing the development and adoption of innovative agrochemical solutions.
- The export market for agrochemical products is expanding, offering significant opportunities for companies with a strong international presence.
- Technological advancements in manufacturing processes and product formulations are enhancing the competitiveness of companies in the agrochemical industry.
Use of IPO Proceeds
| Objective | Amount (₹ Cr) |
| Funding the working capital requirements of the Company | 65 |
| Repayment/ prepayment, in full or in part, of certain outstanding borrowings availed by our Company | 34.12 |
| Capital expenditure for establishing an in-house dry flowable (DF) plant at Barwasni, District Sonipat, Haryana | 14 |
| General Corporate Purposes | Remaining amount |
Conclusion
Indogulf Cropsciences Ltd. stands as a prominent player in India’s agrochemical sector, catering to the growing need for sustainable crop protection and nutrient solutions. With a solid manufacturing base and expanding distribution network, the company is well-positioned to capitalise on rising agricultural demand. The IPO aims to strengthen the company’s financial flexibility to support growth initiatives in a dynamic industry. However, investors should carefully consider risks such as regulatory changes and raw material price volatility. It is important for investors to conduct their own research and exercise caution before investing. For those looking to gain exposure to India’s evolving agricultural landscape through a specialised, product-driven business, Indogulf Cropsciences’ IPO presents a compelling opportunity aligned with long-term sector growth.
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