Overview

• Indogulf Cropsciences shares debuted at Rs 111 on both the BSE and NSE, matching the upper end of its Rs 105-111 IPO price band.
• Prelisting grey market premiums rose from Rs 12 to Rs 18 per share, suggesting potential gains of about 16-17% that did not materialize.
• The IPO opened June 26, secured Rs 58.2 crore from anchor investors on June 25, closed June 30 and completed share allotment on July 1.
• Qualified institutional bidders subscribed 33.26 times, non-institutional investors 48.39 times, retail investors 14.78 times and employees 1.09 times to the issue.
• Proceeds will be used for working capital, debt reduction and capacity expansion at Indogulf’s backward-integrated agrochemical facilities established since 1993.