Advance Agrolife's Rs 192.86 Crore IPO Set to Open on September 30
Advance Agrolife, an agrochemical manufacturer, is launching its IPO to raise Rs 192.86 crore through a fresh issue of 1.93 crore shares. The IPO will open on September 30 and close on October 3, with a price band of Rs 95-100 per share. The company, established in 2002, specializes in manufacturing insecticides, fungicides, herbicides, and plant growth regulators. Advance Agrolife reported a revenue of Rs 502.26 crore with 10.17% year-on-year growth and a profit after tax of Rs 25.64 crore with 3.70% growth. The IPO proceeds will be used for working capital requirements and general corporate purposes.
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Advance Agrolife, a prominent agrochemical manufacturer, is gearing up for its Initial Public Offering (IPO) set to open on September 30. The company aims to raise Rs 192.86 crore through a fresh issue of 1.93 crore shares, with the IPO closing on October 3.
IPO Details
- Price Band: Rs 95-100 per share
- Minimum Investment: Rs 15,000 for retail investors (150 shares)
- Grey Market Premium: Rs 10, indicating a potential 10% listing gain
- Expected Allotment Date: October 6
- Listing Date: October 8 on BSE and NSE
About Advance Agrolife
Established in 2002, Advance Agrolife has carved a niche in the agrochemical sector. The company specializes in manufacturing:
- Insecticides
- Fungicides
- Herbicides
- Plant growth regulators
Financial Performance
Advance Agrolife reported the following financial results:
| Financial Metric | Amount (in crore) | Year-on-Year Growth |
|---|---|---|
| Revenue | 502.26 | 10.17% |
| Profit After Tax | 25.64 | 3.70% |
Utilization of IPO Proceeds
The funds raised through this IPO will be allocated towards:
- Working capital requirements
- General corporate purposes
This strategic move is expected to bolster the company's operational capabilities and support its growth initiatives in the competitive agrochemical market.
Investors interested in the agrochemical sector may find Advance Agrolife's IPO an opportunity worth considering, given the company's established presence in the market and its recent financial performance. However, as with any investment decision, it is advisable to thoroughly review the company's prospectus and consult with financial advisors before participating in the IPO.
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