India Pesticides IPO subscribed 1.29 times on Day 1, receives bid for Rs 2.4 crore shares



The IPO that has opened today will end on 25 June. The India Pesticides IPO is going to be finalised by Wednesday, 30 June. The issue type is Book Built Issue IPO.

The India Pesticides Limited’s initial public offering (IPO) opened today, 23 June. The IPO of the agrochemical manufacturer was subscribed 1.24 times on day 1 (23 June). As reported by CNBCTV18, against the IPO size of 1.93 crore equity shares, it received bids for 2.40 crore shares.

Retail investors subscribed their portion of the IPO 2.42 times while that of non-institutional investors was subscribed 16 percent. Qualified institutional investors are yet to bid for subscriptions.

The IPO that has opened today will end on 25 June. The India Pesticides IPO is going to be finalised by Wednesday, 30 June. The issue type is Book Built Issue IPO.

The IPO has a size of Rs 800 crore out of which Rs 100 crore is to be raised from fresh issues while Rs 700 crore will be raised from the offer of sale (OFS) by existing shareholders.

On 22 June, when the company raised Rs Rs 240 crore from its anchor investors, the size of the IPO became 1.93 crore equity shares, after reducing by 81,08,107 equity shares.

The price band of Rs 290-296 per share has been fixed for the IPO. The lot size of India Pesticides IPO is 50 and a trader can subscribe to a maximum of 13 lots. The minimum investment limit is Rs 14,800 while the maximum investment limit is Rs 1,92,400.

The promoter holding before the issue was 82.68 percent and after the issue, it is going to be reduced to 72 percent.

The tentative date for the listing of India Pesticides Limited IPO is 5 July.



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