Indogulf Cropsciences IPO listing: Shares of Indogulf Cropsciences made a flat debut on the bourses on Thursday, July 3, listing at ₹111 on NSE and BSE, same as issue price.
The IPO, valued at ₹200 crore, was open for subscription from June 26 to June 30.
Indogulf Cropsciences’ initial public offering (IPO) wrapped up with a strong response, garnering a total subscription of 27.17 times over the three-day window. The issue received bids for 34.71 crore shares, significantly exceeding the 1.27 crore shares available on offer. Retail investors portion was subscribed 14.97 times and the non-institutional investor segment attracted 49.06 times bids. Meanwhile, the qualified institutional buyer (QIB) portion witnessed the strongest demand, subscribed 31.73 times.
About the IPO
The IPO was is a combination of fresh issue of 1.44 crore shares aggregating to ₹160.00 crore and offer for sale of 0.36 crore shares aggregating to ₹40.00 crore. The minimum application size was 135 shares, implying a minimum investment of ₹14,985 from retail investors.
Indogulf Cropsciences has outlined plans to utilise the net proceeds from its upcoming IPO to support several strategic initiatives. These include funding the company’s working capital requirements, partially or fully repaying certain outstanding borrowings, investing in capital expenditure for the establishment of a new in-house dry flowable (DF) plant at its Barwasni site in Sonipat, Haryana, and general corporate purposes.
Furthermore, the IPO raised ₹58.20 crore from anchor investors on June 25, 2025.
Systematix Corporate Services was the book-running lead manager of the Indogulf Cropsciences IPO, whereas Bigshare Services was the registrar for the issue.
About the Company
Founded in 1993, Indogulf Cropsciences Limited is an Indian agrochemical company specialising in the production of crop protection products, plant nutrients, and biological solutions.
In 2019, the company became one of the early domestic manufacturers to produce Spiromesifen technical with 96.5% purity, and it was among the first in India to manufacture Pyrazosulfuron Ethyl technical with 97 percent purity.
Indogulf Cropsciences operates four manufacturing facilities across India. These are located in Samba (Jammu & Kashmir) and Nathupur (Haryana), including two units in Nathupur and one in Barwasni, Haryana, covering a total area of around 20 acres.
Additionally, Indogulf Cropsciences has established a strong global footprint, with exports reaching more than 34 countries. In terms of financial performance, the company reported a revenue of ₹555.79 crore and a profit after tax (PAT) of ₹28 crore for the financial year 2023–24.
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