Crop Life Science’s initial public offering (IPO) begins today: Check the pricing range and other important factors.
The company’s objective is to secure Rs 26.73 crore through the issuance of fresh shares. The shares are expected to be listed on the NSE EMERGE platform on August 30.
Crop Life Science Limited, a major producer of agricultural chemicals, has released the pricing information for its planned initial public offering (IPO), which would be priced at Rs 52 per share. The IPO will begin today (August 18), and bidding will end on August 22.
The company’s goal is to raise Rs 26.73 crore through the issuing of new shares. On August 30, the shares are likely to be launched on the NSE EMERGE platform.
The monies received will be divided as follows: Rs 70 lakh for debt repayment, Rs 19 crore for meeting working capital requirements, and Rs 6.5 crore for general corporate reasons.
Interactive Financial Services is the sole bookrunner for the IPO.
The maximum lot size for retail investors is 2,000 shares, which equals Rs 1,04,000. Meanwhile, HNIs (high net worth individuals) can bid on two lots of 4,000 shares worth Rs 2,08,000.
Corp Life Science Ltd specialises in agrochemicals, including the development, distribution, and marketing of various agricultural chemical formulations.
Pesticides and micro fertilisers are among their many products. Their pesticide portfolio comprises insecticides, fungicides, herbicides, and weedicides. The company has 296 technical formulation approvals for manufacturing pesticide products.
The company is proud to have 133 trademark registrations for its branded items, covering several classes and categories, in addition to its distinctive logo.
Furthermore, 19 trademark applications are now in various stages of processing. Their manufactured goods are marketed under separate brand names.
The company also has eight registered copyrights under the Copyrights Act, as well as a registered bottle design under the Designs Act and Rules. They also have four registered patents and four further patent applications filed under The Patent Act.
Crop Life Science recorded a revenue of Rs 122.54 crore and a net profit of Rs 4.37 crore for the fiscal period ended February 18, 2023. During the same time period, they borrowed a total of Rs 26.82 crore.
Their income in fiscal year 2022 was Rs 102 crore, a little decrease from Rs 118.93 crore the previous year. The fiscal year’s net profit was Rs 2.81 crore, down from Rs 3.7 crore the previous year.
Article courtesy@Indiatoday
