Indogulf Cropsciences Limited is a Delhi-based agrochemical company with over three decades of expertise in the industry. Incorporated in 1993, the company specializes in the manufacturing and marketing of a diverse range of crop protection products, plant nutrients, and biologicals. It serves both domestic and international markets, exporting to over 34 countries.
🌱 Core Business Verticals:
- Crop Protection: Insecticides, fungicides, herbicides, and bio-stimulants to protect crops from pests, diseases, and weeds.
- Plant Nutrients: Specialty fertilizers, bio-simulants, and soil health products to boost crop yields.
- Biologicals: Environmentally friendly bio-fertilizers and bio-stimulants designed for sustainable agriculture.
🧬 Manufacturing & Innovation:
The company operates four manufacturing facilities located across Jammu & Kashmir and Haryana, spread over 20 acres. These facilities are ISO 9001:2015 and ISO 14001:2015 certified, supporting the production of both technical and formulation agrochemical products.
Indogulf is among the few Indian companies to indigenously manufacture:
- Spiromesifen Technical with 96.5% purity (since 2019)
- Pyrazosulfuron Ethyl Technical with 97% purity (since 2018)
The company also offers contract manufacturing services, delivering tailored solutions to both Indian and global brands.
🌍 Market Presence:
- Domestic: Presence in 22 states and 3 Union Territories through 6,916 distributors and 192 institutional partners.
- Global: Exports to over 34 countries with 143 overseas partners.
🧪 R&D Capabilities:
Indogulf boasts an NABL-certified lab in Nathupur, Haryana, supported by a team of scientists, agronomists, and microbiologists. The company has received six patents since FY19 and continues to invest in research focused on sustainability, product efficiency, and zero-defect goals.
🌟 Recognitions:
- Designated as a Two Star Export House by the Government of India.
- Subsidiaries in Australia and India to support market expansion and regulatory compliance.
With a robust product portfolio, strong R&D backing, and a global footprint, Indogulf Cropsciences stands as a rising player in the Indian agrochemical sector.
As of August 31, 2024, the company had 640 permanent employees.
Indogulf Cropsciences IPO – Details
| IPO Opening Date | 26 June 2025 |
| IPO Closing Date | 30 June 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 1,80,18,017 Shares Worth ₹200.00 Crore Fresh Issue: 1,44,14,414 Shares Worth ₹160.00 Crore Offer For Sale: 36,03,603 Shares Worth ₹40.00 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹105 – ₹111 per share |
| Market Lot | 135 |
| Min Order | 135 Shares [ 1 LOT ] |
| Listing At | BSE, NSE |
| Register | Bigshare Services Pvt Ltd |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Indogulf Cropsciences IPO – Date Schedule
| IPO Open Date | 26 June 2025 |
| IPO Close Date | 30 June 2025 |
| Basis of Allotment | 01 July 2025 |
| Initiation of Refund | 02 July 2025 |
| Credit of Shares to Demat Account | 02 July 2025 |
| IPO Listing Date | 03 July 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 30, 2025 |
Indogulf Cropsciences IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 135 | ₹14,985 |
| Retail (Max) | 13 | 1,755 | ₹1,94,805 |
| S-HNI (Min) | 14 | 1,890 | ₹2,09,790 |
| S-HNI (Max) | 66 | 8,910 | ₹9,89,010 |
| B-HNI (Min) | 67 | 9,045 | ₹10,03,995 |
Competitive Strength
- Diversified product portfolio and specialized products across all three verticals.
- Established distribution network in India and abroad.
- Backward integrated manufacturing infrastructure.
- Strong R&D and product development capabilities.
- Experienced Promoters and a strong management team.
Company Promoters
- Om Prakash Aggarwal
- Sanjay Aggarwal
- Anshu Aggarwal
- Arnav Aggarwal
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2022 | ₹490.23 Cr | ₹454.68 Cr | ₹26.36 Cr | ₹101.38 Cr |
| 31 March 2023 | ₹552.19 Cr | ₹522.04 Cr | ₹22.42 Cr | ₹189.22 Cr |
| 31 March 2024 | ₹555.79 Cr | ₹516.08 Cr | ₹28.23 Cr | ₹154.56 Cr |
| 31 Dec 2024 | ₹466.31 Cr | ₹444.63 Cr | ₹21.68 Cr | ₹206.30 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 12.2% |
| ROCE | 11.93% |
| Debt/Equity | 0.67 |
| RoNW | 12.19% |
| PAT Margin | 5.11% |
| EBITDA Margin | 10.09% |
| Pre IPO | Post IPO | |
| EPS (₹) | 5.79 | 4.57 |
| P/E (x) | 19.18 | 24.27 |
Object Of The Issue
| Objects of the Issue | Expected Amount (Rs. in crores) |
|---|---|
| Funding the working capital requirements of the Company | 65 |
| Repayment/ prepayment, in full or in part, of certain outstanding borrowings availed by the Company | 34.12 |
| Capital expenditure of the Company for setting up an in-house dry flowable (DF) plant at Barwasni, District Sonipat, Haryana | 14 |
| General corporate purposes. | To be finalized |
Indogulf Cropsciences IPO Peer Comparison
| S. No. | Face Value | Company Name | P/E |
|---|---|---|---|
| 1 | 10 | Aries Agro Ltd | 17.47 |
| 2 | 1 | Basant Agro Tech India Ltd | 44.58 |
| 3 | 10 | Best Agrolife Ltd | 12.23 |
| 4 | 1 | Bhagiradha Chemicals & Industries Ltd | 101.81 |
| 5 | 10 | Heranba Industries Ltd | 35.34 |
| 6 | 1 | India Pesticides Ltd | 41.62 |
| 7 | 10 | Dharmaj Crop Guard Ltd | 18.02 |
Strengths
- Cost-efficient integrated manufacturing.
- Indigenous technical-grade production.
- Strong R&D with patents.
- Wide domestic and global reach.
- 450+ diverse products.
- Stable margins and returns.
Risks
- High working capital use.
- Volatile input prices.
- Regulatory approval delays.
- Environmental compliance burden.
- Revenue concentration risk.
- Forex fluctuation exposure.
Indogulf Cropsciences IPO Promoter Holding
| Pre Issue Share Holding | 96.86% |
| Post Issue Share Holding | – |
Indogulf Cropsciences IPO Prospectus
Company Contact Information
| Indogulf Cropsciences Limited 501, Gopal Heights Plot No – D-9, Netaji Subhash Place Delhi, New Delhi, 110034 Phone: +91 11 4004 0417 Email: cs@groupindogulf.com Website: http://www.groupindogulf.com/ |
Indogulf Cropsciences IPO Registrar
| Bigshare Services Pvt Ltd Phone: +91-22-6263 8200 Email: ipo@bigshareonline.com Website: https://ipo.bigshareonline.com/IPO_Status.html |
Indogulf Cropsciences IPO Lead Manager(s)
| 1. Systematix Corporate Services Limited |
Indogulf Cropsciences IPO FAQs
| What is Indogulf Cropsciences IPO? Indogulf Cropsciences IPO is a main-board IPO. The issue is priced at ₹105 to ₹111 per equity share. The IPO is to be listed on BSE & NSE. |
| When Indogulf Cropsciences IPO will open? The IPO is to open on 26 June 2025 for QIB, NII, and Retail Investors. |
| What is Indogulf Cropsciences IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Indogulf Cropsciences IPO? You can apply Indogulf Cropsciences IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Indogulf Cropsciences IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Indogulf Cropsciences IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Indogulf Cropsciences IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Indogulf Cropsciences IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Indogulf Cropsciences IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Indogulf Cropsciences IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Indogulf Cropsciences IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Indogulf Cropsciences IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Indogulf Cropsciences IPO Size? Indogulf Cropsciences IPO size is ₹200 Crore. |
| What is the Indogulf Cropsciences IPO Price Band? Indogulf Cropsciences IPO Price Band is ₹105 to ₹111. |
| What is Indogulf Cropsciences IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 135 Shares with ₹14,985 while the maximum bid is 1755 Shares with ₹1,94,805. |
| What is the Indogulf Cropsciences IPO Allotment Date? Indogulf Cropsciences IPO allotment date is 01 July 2025. |
| What is the Indogulf Cropsciences IPO Listing Date? Indogulf Cropsciences IPO listing date is 03 July 2025. The IPO is to be listed on BSE and NSE. |
