Rajasthan-based agrochemicals manufacturer Advance Agrolife has decided to open its Rs 193-crore initial share sale for public subscription on September 30, being the second mainboard public issue for next week after Om Freight Forwarders.
It is entirely a fresh issue of 1.93 crore equity shares by the company. The price band for the offer has been fixed at Rs 95-100 per share.
The IPO anchor book will be opened for a day on September 29, while the issue for the public will remain open till October 3.
The company will finalise IPO share allotment by October 6, while its equity shares will be available for trading on the BSE and NSE effective October 8.
Advance Agrolife that manufactures and domestically sells insecticides, herbicides, fungicides, and plant growth regulators to corporate customers will spend Rs 135 crore of IPO proceeds for its working capital requirements in FY26-FY27, and the remaining amount for general corporate purposes.
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As of March 2025, it has received 410 generic registrations comprising of 380 formulation grade registration and 30 technical grade registration for the agrochemicals.
The company, which is valued at Rs 643 crore with the IPO launch, has reported profit at Rs 25.6 crore in the year ended March 2025, increasing 3.66 percent compared to Rs 24.7 crore in previous fiscal. Revenue in the same fiscal periods grew by 10.2 percent to Rs 502.3 crore, up from Rs 455.9 crore.
Advance Agrolife competes with listed peers like Dharmaj Crop Guard, Insecticides India, Heranba Industries, PI Industries, and Sharda Cropchem.
The merchant banker managing the Advance Agrolife IPO is Choice Capital Advisors.
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