Advance AgroLife Announces Rs 193-Crore IPO with Price Band of Rs 95-100
Jaipur-based agrochemical firm Advance AgroLife is launching its IPO on September 30, aiming to raise Rs 193 crore. The price band is set at Rs 95-100 per share, with the issue closing on October 3. The company plans to offer 1.93 crore fresh equity shares and will list on NSE and BSE. Funds will primarily be used for working capital (Rs 135 crore) and general corporate purposes. Advance AgroLife, which manufactures various agrochemical products, reported a revenue of Rs 502 crore and a net profit of Rs 25.60 crore. Choice Capital Advisors is the lead manager for the IPO.
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Jaipur-based agrochemical firm Advance AgroLife is set to launch its initial public offering (IPO) on September 30, aiming to raise Rs 193.00 crore. The company has announced a price band of Rs 95-100 per share for the issue, which will close on October 3.
IPO Details
| Item | Details |
|---|---|
| Offer Size | 1.93 crore fresh equity shares |
| Price Band | Rs 95-100 per share |
| Subscription Period | September 30 - October 3 |
| Listing | National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) |
Fund Utilization
The company plans to utilize the IPO proceeds as follows:
- Working Capital: Rs 135.00 crore
- General Corporate Purposes: Remaining amount
Company Profile
Advance AgroLife specializes in manufacturing a wide range of agrochemical products, including:
- Insecticides
- Herbicides
- Fungicides
- Plant growth regulators
- Micro-nutrient fertilizers
- Biofertilizers
Financial Performance
Advance AgroLife reported:
| Metric | Amount |
|---|---|
| Revenue from Operations | Rs 502.00 crore |
| Net Profit | Rs 25.60 crore |
IPO Management
Choice Capital Advisors has been appointed as the sole book-running lead manager for the IPO.
Industry Outlook
The IPO comes at a time when the agrochemical sector in India is experiencing growth, driven by increasing demand for crop protection products and the government's focus on improving agricultural productivity.
Investors interested in the agrochemical sector may consider this IPO as an opportunity to participate in the growth of a company with a diverse product portfolio catering to the agricultural industry. However, as with any investment decision, it is advisable to carefully review the company's prospectus and consult with financial advisors before making an investment decision.
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