Monday, March 27, 2023
Market-Reporter
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
Market-Reporter
No Result
View All Result
Home IPOs

India Pesticides IPO subscribed 11.67 times on Day 3

MtR by MtR
June 25, 2021
in IPOs
0
India Pesticides IPO subscribed 11.67 times on Day 3


The initial public offer (IPO) of India Pesticides Limited has been subscribed 11.67 times on June 24, the second day of bidding.

According to the subscription data available on the exchanges till 14:30 IST, the offer has received bids for 22,53,89,500 equity shares against the IPO size of over 1,93,10,345 equity shares.

The company had raised Rs 240 crore from anchor investors. According to a regulatory filing, the company has decided to allot 81,08,107 equity shares to 12 anchor investors at Rs 296 per equity share. At this price, the company will fetch Rs 239.99 crore.

Abu Dhabi Investment Authority, Tara Emerging Asia Liquid Fund, and BNP Paribas were Among the foreign portfolio investors who participated in the anchor book.

The domestic investors were SBI Mutual Fund, Nippon India Mutual Fund, Tata Mutual Fund, Bajaj Allianz Life Insurance Company, Bharti AXA Life Insurance Company, and Winro Commercial India Ltd.

The agrochemical company has fixed a price band of Rs 290-296 per share for its IPO.

“Considering the FY21 adjusted EPS of 11.68 on a post-issue basis, the company is going to list at PE of 25.34 with a market cap of Rs. 34,088 million whereas its peers namely Dhanuka Agri, UPL Ltd., Rallis India and PI Industries are trading at a P/E of 21.4, 20.4, 31.5, 58.6 respectively,”  said analysts at Marwadi Financial Services.

They have also given a ‘subscribe’ rating to the issue as the company is one of the fastest-growing agrochemical company in India with strong R&D capabilities and a diversified product portfolio. Also, the company is available at reasonable valuations as compared to its peers.

The 800-crore IPO comprises fresh issue of equity shares amounting to Rs 100 crore and an offer of sale for equity shares aggregating up to Rs 281.4 crore by promoter Anand Swarup Agarwal and up to Rs 418.6 crore by other selling shareholders.

The firm intends to use proceeds of the fresh issue towards funding the working capital requirements and general corporate purposes.

Allotment of shares will be carried out on June 30. The share will list on BSE and NSE on July 5, 2021.  Axis Capital and JM Financial are the book running lead managers to the issuer.

One can apply in the IPO in a lot size of 50 shares by spending Rs 14,800.

A maximum of 13 lots or  650 shares can be applied for by a retail investor for Rs 1,92,400.

The Uttar Pradesh-based company is likely to undertake a pre-IPO placement of Rs 75 crore subject to consultation of the merchant bankers.

India Pesticides is an R&D focused agrochemical technical company, which has growing formulations business in herbicides, insecticides and fungicide segments. It also manufactures active pharmaceutical ingredients (APIs).





Source link

Related articles

World’s largest duty-free retailer aims for Hong Kong’s biggest IPO of year – South China Morning Post

World’s largest duty-free retailer aims for Hong Kong’s biggest IPO of year – South China Morning Post

August 10, 2022
NSW Police dumps Bezos-backed Mark43 from core systems overhaul – Strategy – Security

NSW Police dumps Bezos-backed Mark43 from core systems overhaul – Strategy – Security

August 10, 2022

Related Posts

World’s largest duty-free retailer aims for Hong Kong’s biggest IPO of year – South China Morning Post

World’s largest duty-free retailer aims for Hong Kong’s biggest IPO of year – South China Morning Post

by MtR
August 10, 2022
0

World’s largest duty-free retailer aims for Hong Kong’s biggest IPO of year  South China Morning Post Source link

NSW Police dumps Bezos-backed Mark43 from core systems overhaul – Strategy – Security

NSW Police dumps Bezos-backed Mark43 from core systems overhaul – Strategy – Security

by MtR
August 10, 2022
0

Plans to replace NSW’s core policing system with a new cloud-based crime-fighting platform are in disarray after NSW Police terminated...

Syrma share sale to offer cues for IPO fence-sitters

Syrma share sale to offer cues for IPO fence-sitters

by MtR
August 9, 2022
0

MUMBAI : The primary market will offer important cues to IPO-bound companies and investors this week. After a dry patch...

AIG eyes September as next window for unit’s IPO

AIG eyes September as next window for unit’s IPO

by MtR
August 9, 2022
0

AIG, one of the world's biggest commercial insurers, on Monday blamed market volatility for the delay, becoming the latest company...

Gov. AbdulRazaq mourns Chief Imam of Ajase-Ipo

Gov. AbdulRazaq mourns Chief Imam of Ajase-Ipo

by MtR
August 9, 2022
0

The Governor said the death of the Chief Imam was a depletion in the rank of community leaders whose leadership...

Load More
  • Trending
  • Comments
  • Latest
Bank of England tells ministers to intervene on digital currency ‘programming’

Bank of England tells ministers to intervene on digital currency ‘programming’

June 21, 2021
Tips for checking smoke alarms during daylight saving time

Tips for checking smoke alarms during daylight saving time

March 12, 2022
GLOBAL MARKETS-U.S. stocks follow Europe up; Treasury yields rise, dollar firm

GLOBAL MARKETS-U.S. stocks follow Europe up; Treasury yields rise, dollar firm

July 9, 2021
What will Durham County education bonds pay for? A full list

What will Durham County education bonds pay for? A full list

July 8, 2022
African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

0
Maxum Foods releases Global Dairy Commodity Update for June

Maxum Foods releases Global Dairy Commodity Update for June

0
Letter: Perpetual bonds can help states fight hunger

Letter: Perpetual bonds can help states fight hunger

0
United Kingdom ETFs Are Riding the Re-Opening Momentum

United Kingdom ETFs Are Riding the Re-Opening Momentum

0
Investment in overseas real estate surges : The DONG-A ILBO

Investment in overseas real estate surges : The DONG-A ILBO

August 11, 2022
U.S. inflation CPI report, Wall Street, currencies

U.S. inflation CPI report, Wall Street, currencies

August 10, 2022
Alberta oil production set new record in first half of 2022

Alberta oil production set new record in first half of 2022

August 10, 2022
Industrial Lubricants Market to Reach $71 Billion by 2027.

Industrial Lubricants Market to Reach $71 Billion by 2027.

August 10, 2022

Recent News

Investment in overseas real estate surges : The DONG-A ILBO

Investment in overseas real estate surges : The DONG-A ILBO

August 11, 2022
U.S. inflation CPI report, Wall Street, currencies

U.S. inflation CPI report, Wall Street, currencies

August 10, 2022
Alberta oil production set new record in first half of 2022

Alberta oil production set new record in first half of 2022

August 10, 2022

Categories

  • Asia
  • Bonds
  • Canada
  • Commodities
  • Cryptocurrencies
  • Currencies
  • Emerging Markets
  • ETFs
  • Europe & Middle East
  • IPOs
  • Latin America
  • Mutual Funds
  • Personal Finance
  • Real Estate
  • Retirement
  • Spending & Saving
  • Stocks
  • U.S. Markets
  • Privacy & Policy
  • About Us
  • Contact Us
  • Advertise with us

© 2021 Copyright Market-Reporter

No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate

© 2021 Copyright Market-Reporter