Indogulf Cropsciences Limited, a leading Indian agrochemical company established in 1993, is set to launch its Initial Public Offering (IPO) to fuel its next phase of growth. The company specializes in manufacturing crop protection products, plant nutrients, and biologicals, serving both domestic and international markets across more than 34 countries. The Indogulf Cropsciences IPO will open for subscription on June 26, 2025, and close on June 30, 2025. The price band for the issue is set at Rs 105 – 111 per share.
₹15
₹111
₹111.00
Expert Opinions
Market sentiment around the Indogulf Cropsciences IPO is cautiously optimistic, driven by India’s growing agrochemical sector and the company’s established presence across 34 countries. Key strengths include a diversified product portfolio spanning crop protection, plant nutrients, and biologicals; robust R&D capabilities; ISO-certified manufacturing facilities; and an extensive distribution network of 5,772 distributors across India. However, risks persist—high working capital stress, revenue concentration in cyclical agricultural markets, and vulnerability to raw material price fluctuations could impact financial stability.
Valuation metrics for FY2024 for Indogulf Cropsciences IPO show a Return on Equity (ROE) of 12.2%, Return on Capital Employed (ROCE) of 11.93%, and a Net Asset Value (NAV) of ₹97.98, indicating moderate efficiency but room for improvement. Long-term investment appeal hinges on the company’s ability to leverage IPO proceeds—allocated for debt reduction (₹34.12 crore), new manufacturing capacity (₹14 crore), and working capital (₹65 crore)—to enhance operational scalability and global competitiveness in the expanding agrochemical market.
Investor Considerations
Investors evaluating the Indogulf Cropsciences IPO should first consider the company’s solid performance and fundamentals: it reported steady revenue growth, with FY2024 revenue at ₹555.79 crore and net profit rising sharply to ₹28.23 crore, up from ₹22.42 crore in FY2023, reflecting improved operational efficiency and cost management. The sector outlook is robust, underpinned by India’s strong position in global agrochemical exports and increasing agricultural demand. The Indogulf Cropsciences IPO valuation for FY2024 reveals a price-to-book value of 1.13, a PAT margin of 5.11%, and a debt/equity ratio of 0.67, indicating reasonable pricing, moderate profitability, and prudent leverage.
Growth prospects are supported by planned investments in a new dry flowable plant and expansion of working capital, which could enhance production capacity and market reach. Key risks include exposure to agricultural market cycles, raw material price volatility, and competitive pressures. Short-term investors may focus on listing gains, while long-term investors should assess the company’s ability to sustain growth, maintain export competitiveness, and capitalize on sector tailwinds for sustainable returns.
| Date | GMP | Trend |
|---|---|---|
| 02 Jul 2025 16.02 | ₹15 | Down |
| 29 Jun 2025 10.55 | ₹17 | Up |
| 28 Jun 2025 13.49 | ₹10 | --- |
| 27 Jun 2025 13.18 | ₹10 | --- |
| 26 Jun 2025 11.22 | ₹10 | --- |
| 25 Jun 2025 14.35 | ₹10 | --- |
| 24 Jun 2025 11.07 | ₹10 | --- |
| 23 Jun 2025 16.22 | ₹10 | --- |
FAQs
The Grey Market Premium showed poor accuracy in predicting Indogulf Cropsciences IPO’s listing performance. With a final GMP of ₹15, it indicated a premium of 13.51% over the issue price of ₹111. However, the stock listed flat at ₹111, delivering 0% gain. This resulted in a prediction error of 13.51%, where the GMP failed to predict both the direction and magnitude of gains, reflecting low reliability in this case.
Indogulf Cropsciences IPO Current GMP is ₹12.
Indogulf Cropsciences IPO Expected Returns is 10.81%.
Indogulf Cropsciences IPO estimated listing price is ₹123.