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Last Updated : Jun 24, 2019 03:05 PM IST | Source: Moneycontrol.com

KPR Agrochem's Rs 283-cr IPO to open on June 28, price band set at Rs 59-61

The company will use fresh issue proceeds for repayment of certain borrowings and additional working capital requirement

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Andhra Pradesh based agri-input company KPR Agrochem is set to launch its initial public offering for subscription on June 28. Its price band is fixed at Rs 59-61 per share.

The IPO will consist of a fresh issue aggregating up to Rs 210 crore and an offer for sale of 1.2 crore equity shares by promoters.

The issue, which consists of a reservation of up to 4.3 lakh equity shares for eligible employees, will close on July 2. Retail and eligible employees will get shares at a discount of Rs 3 per share to offer price.

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The company will use fresh issue proceeds for repayment of certain borrowings and additional working capital requirement.

KPR Agrochem is an agri-input company focused on manufacturing, distribution and retailing of a wide range of crop yield enhancing and protection products. In order to secure the supply of sulphuric acid, one of the key ingredients for the company's various products, the company also ventured into manufacturing of sulphuric acid.

The book running lead manager to the Issue is PL Capital Markets Private Limited, part of Prabhudas Lilladher group. Equity shares are proposed to be listed on BSE and NSE.
First Published on Jun 24, 2019 03:05 pm
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