Advance Agrolife's Initial Public Offering (IPO) has concluded with a remarkable oversubscription of 56.85 times, signaling strong investor interest in the agrochemical company. The book-built issue, worth Rs 192.86 crore, offered 1.93 crore fresh shares at a price band of Rs 95-100 per share.

Subscription Details

The IPO, which closed on October 3, saw enthusiastic participation across various investor categories:

Grey Market Premium and Potential Listing Gains

The grey market premium for Advance Agrolife stands at Rs 20, suggesting an estimated listing price of Rs 120. This indicates a potential gain of 20% for investors upon listing.

Important Dates and Status

• Allotment Status Finalization: October 6
• Expected Refunds: October 7
• Demat Account Credit: October 7
• Tentative Listing Date: October 8 (on BSE and NSE)

Investors can check their allotment status through the BSE, NSE, or the registrar Kfin Technologies' websites.

Utilization of IPO Proceeds

The company plans to use the funds raised from the IPO for:

1. Working capital requirements
2. General corporate purposes

This successful IPO highlights the strong investor appetite for the agrochemical sector and Advance Agrolife's potential in the market.

Note: Share prices and market conditions are subject to change. Investors are advised to conduct their own research and consult financial advisors before making investment decisions.

Advance Agrolife Ltd. IPO Concludes with 1.87x Oversubscription

Advance Agrolife Ltd., a Jaipur-based agrochemical products manufacturer, concluded its Initial Public Offering (IPO) today, marking the end of its subscription period that began on September 30. The Rs 192.86 crore issue has garnered significant interest from investors across various categories.

Subscription Details

The IPO witnessed an overall oversubscription of 1.87 times, with bids received for 2,52,97,650 shares against the 1,35,09,004 shares on offer. Here's a breakdown of the subscription status across different investor categories:

IPO Structure and Pricing

The public issue comprises a fresh issue of 1.93 crore shares, with a price band set between Rs 95 to Rs 100 per share.

Grey Market Premium

The grey market is showing a premium of Rs 15 for Advance Agrolife shares. This suggests an estimated listing price of Rs 115 against the upper price band of Rs 100, indicating potential gains of approximately 15% for investors.

Key Dates

Listing Venues: BSE and NSE

Utilization of Funds

The company plans to use the proceeds from the IPO for:

1. Funding working capital requirements
2. General corporate purposes

Investors and market participants will be closely watching the share allotment process and the eventual listing, given the oversubscription and the positive grey market premium. As always, it's important for investors to conduct their own research and consider their risk appetite before making investment decisions.