Indogulf Cropsciences IPO

About the company

Incorporated in 1993, Indogulf Cropsciences is one of the leading manufacturers of crop protection products, plant nutrients and biologicals, which help improve crop yield. The company sells its diverse product range in powder, granules and liquid form to its retail and institutional customers. Indogulf Cropsciences has successfully expanded its product portfolio from 198 products in FY22 to 262 products as of December 31, 2024, spanning across three business verticals, namely crop protection, plant nutrients and biologicals. The company has established itself as a significant exporter with products reaching over 34 countries and has been recognised as a 'Two Star Export House' by the Government of India. The company maintains 143 overseas business partners. It operates an extensive domestic distribution network comprising 192 institutional business partners (B2B) and 6,916 working domestic distributors (B2C), supported by 17 stock depots and 6 sales/branch offices across 22 states and 3 Union territories in India. The company operates four ISO 9001:2015 and ISO 14001:2015 certified manufacturing facilities located across Jammu & Kashmir and Haryana, spread over approximately 20 acres. It holds 225 trademarks, 8 copyrights, and 6 design registrations for its logo and branded products. Additionally, the company has 3 packaging patents that enhance product quality, safety, and sustainability. The company has built enduring relationships with major domestic and international brands over three decades of operations, including key customers such as Krishi Rasayan Exports, Parijat Industries, BR Agrotech, and Crystal Crop Protection. India holds 14% of the global crop protection market and is among the top five global producers of agrochemicals, which benefits the domestic companies operating in the segment. The demand for crop protection chemicals is projected to grow significantly from 61,097 tonnes in FY20 to 89,170 tonnes by FY36, representing substantial market expansion opportunities. The global crop protection and nutrition market is expected to grow at a CAGR of 6.3% during 2024-2029, with the Asia-Pacific region holding the maximum market share at 42%. The 2024 monsoon delivered 1,207 mm of rainfall, which is above the long-period average of 868.6 mm, supporting robust kharif crop sowing and water reservoir replenishment. Normal-to-positive Indian Ocean Dipole conditions and the absence of strong El Niño signals suggest continued favourable weather patterns. These conditions are expected to increase demand for agrochemicals and crop protection solutions, as warm and humid environments are conducive to pest proliferation, driving growth in pesticide, fungicide, and herbicide segments. The company plans to establish a dry flowable plant at its 16-acre leasehold facility in Barwasni, Haryana, which will manufacture various formulations across all three business segments. This expansion will enhance operational efficiency, market competitiveness, and business sustainability while leveraging economies of scale to reduce production costs. With 979 total product registrations across domestic and international markets and 138 products in the pipeline for registration, the company is well-positioned to capitalise on its established regulatory expertise. Now, Indogulf Cropsciences Limited is launching its initial public offering (IPO), which consists of a fresh issue of equity shares worth up to ₹160 crore and an offer for sale worth up to ₹40 crore. The total issue size of the IPO is ₹200 crore. Its shares will be listed on the NSE and BSE.

Financial performance (₹ Cr)

Subscription breakup (final, times)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   26 Jun 2025

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   30 Jun 2025

   Last day to place your bid

3. Basis of Allotment

   Completed
   01 Jul 2025

   Share allotment finalised

4. Refund Initiation

   Completed
   02 Jul 2025

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   02 Jul 2025

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   03 Jul 2025

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.