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Advance Agrolife, a Jaipur-based agrochemical manufacturer, has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering (IPO). Groww
Key Details:
IPO Structure:
- Fresh issue of 1,92,85,720 equity shares at a face value of ₹10 each.
- Shares to be listed on both NSE and BSE.
- Allocation:
- Up to 50% for Qualified Institutional Buyers (QIBs).
- Up to 15% for Non-Institutional Investors.
- Up to 35% for Retail Investors.
- Choice Capital Advisors Private Limited appointed as the Book Running Lead Manager; KFin Technologies Limited as the registrar.
Use of Proceeds:
- Funding working capital requirements.
- General corporate purposes.
Financial Performance (FY 2024):
- Revenue: ₹455.89 crore (up 14.61% from ₹397.80 crore in FY 2023).
- Net Profit: ₹24.73 crore (up 66.5% from ₹14.86 crore in FY 2023).
Company Overview:
- Manufactures insecticides, herbicides, fungicides, and plant growth regulators.
- Holds 404 generic registrations:
- 376 Formulation Grade.
- 28 Technical Grade.
This IPO aims to bolster Advance Agrolife's financial foundation and support its growth initiatives.
Source: https://groww.in/blog/advance-agrolife-files-drhp-to-sebi-for-ipo
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