Crop Life Science IPO opens today, price band set at Rs 52 a share

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Crop Life Science Limited, a manufacturer of agricultural chemicals, has set the price band for its initial public offering at Rs 52 a share. The issue will open on August 18 and close on August 22.

The company aims to raise Rs 26.73 crore through fresh issue, with shares set to be listed on the NSE EMERGE platform. The proceeds from the issue worth Rs 70 lakh will be used to repay debt, Rs 19 crore will be used for working capital requirement and Rs 6.5 crore for general corporate purposes.

Interactive Financial Services is the sole book running manager to the issue.

Corp Life Science Ltd is an agrochemical company that produces, distributes, and markets various agricultural chemical formulations. The company is engaged in the manufacturing of a diverse range of products, including pesticides and micro fertilisers. The pesticides category comprises insecticides, fungicides, herbicides, and weedicides. The company possesses 296 technical formulation approvals for manufacturing insecticide products.

The company holds 133 trademark registrations for its branded products, encompassing various classes and categories, along with its logo. Additionally, there are 19 trademark applications at various stages of processing. The company's formulations are sold under branded names. It possesses eight copyrights registered under the Copyrights Act and has its bottle design registered under the Designs Act and Rules. It holds four registered patents while also having four patent applications submitted under The Patent Act.

For the period ended on February 18, 2023, the company's revenue stood at Rs 122.54 crore, while net profit stood at Rs 4.37 crore. Total borrowing for the period stood at Rs 26.82 crore.

In FY22, its revenue stood at Rs 102 crore as against Rs 118.93 crore. Net profit for the period was at Rs 2.81 crore from Rs 3.7 crore last year.