Company gives application to SEBI, prepares to raise Rs 800 crore from IPO India Pesticides ipo-files IPO papers with Sebi, aims to raise Rs 800 crore

The company and its shareholders are in talks with the book running lead managers to raise Rs 75 crore before the IPO. If there is a pre-IPO placement, the size of the fresh issue will be reduced accordingly.

The funds raised from the India Pesticides issue will be used for capital expenditure and other activities related to the company. The company is a R&D based agro-chemical manufacturer. Its business is also in the formulation segment. It is the fastest growing agro chemical company in the country in the fiscal year 2020, according to a report by F&S.

India Pesticides has two plants in Lucknow and Hardoi in UP. The company has a capacity of 19,500MT in technicals and 6500 MT in formulations. The company currently has registration and license for 22 agro chemical technologies and 124 formulations. In addition, it has formulation license for 27 Agro Chemical Technicals and 34 exports.

India Pesticides is the only Indian company among the top 5 companies in the world in terms of many technicals. The company was started in 1984. It then diversified into segments such as manufacturing herbicide and fungicide technicals and active pharma ingredients (APIs). It also manufactures herbicide, insecticide and fungicide formulations.