The IPO of India Pesticides, one of India’s leading agrochemicals and insecticides company, is open for subscription from today i.e. from June 23 to June 25. The price band of this IPO has been fixed at Rs 290 to 296.
The company plans to raise Rs 800 crore through this IPO. This IPO will have a fresh issue of Rs 100 crore while an offer for sale of Rs 700 crore will be there.
Almost all the analysts who spoke to Moneycontrol on this IPO have expressed their positive view on this IPO. The company’s leading position in the industry, strong R&D capability, diversified and strong product portfolio, large customer base, attractive valuations and strong financial position make analysts subscribed for this IPO.
BP Equities It says that from the valuation perspective, this IPO looks quite attractive in comparison to its listed peers. BP Equities has advised to subscribe in this IPO.
BP Equities It says that considering the performance and capabilities of the company, there is a possibility of tremendous growth in its business going forward, in view of which it should be invested in this IPO with a long view.
ICICI Direct Has also given buy advice in this IPO. ICICI Direct says that the company supplies its products to many big companies of the world. The company is working on an expansion plan. Due to which it will be able to produce in large numbers with less cost. The valuation of this IPO also looks very attractive, in view of which it would be advisable to buy in this IPO.
In addition to these Reliance Securities, Ashika Stock Broking, Anandarathi, Arihant Capital, Market, Marwari Shares Like brokerage houses also recommend investing money in this IPO.
Hem Securities Advising to subscribe in this IPO, has said that money can be invested in this IPO from both long term and listing gain perspective.
Hem Securities says that the company’s focus is on expanding its portfolio, expanding business in different countries and developing new products. In the long run, all these will be seen to be beneficial and the company’s business will see good growth.
Gaurang Shah of Geojit Financial says that India Pesticides is a very good company with strong financial performance, good product portfolio, sound fundamentals and future growth prospects. Investors should invest in this IPO from a long-term perspective along with listing gains.
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