R&D focused agrochemical technical company India Pesticides Ltd (IPL) , have received capital markets regulator Sebi's approval to raise funds through initial public offering (IPO). The company is looking at raising Rs 800 crore from this fund raising activity.
The public offer comprises a fund raise via a fresh issuance of shares worth Rs 100 crore and Rs 700 crore through an offer-for-sale by promoter and technocrat, Anand Swarup Agarwal and selling shareholder ASA Trust.
The Company’s revenue from operations for fiscals 2018, 2019, 2020 and the six months ended September 30, 2020 is Rs 253.2 crore, Rs 340.6 crore, Rs 479.6 crore, and Rs 333.8 crore, respectively. The profit after tax is Rs 32.7 crore, Rs 43.8 crore, Rs. 70.5 crore and Rs 72.2 crore, for similar periods. In between FY 2018 to 2020 the company's revenue from operations has grown at a CAGR of 37.63 per cent.
Lucknow-based IPL is an R&D driven agro-chemical manufacturer of Technicals with a growing formulations business. The company is amongst the fastest growing agro-chemical companies in India in terms of volume in fiscal 2020, according to F&S Report. The company is also the sole Indian manufacturer and among top five manufacturers globally for several Technicals, such as, Folpet and Thiocarbamate Herbicide.
It commenced operations in 1984. Since then, the company has diversified into manufacturing herbicide and fungicide Technicals and active pharmaceutical ingredients (APIs). The company also manufactures herbicide, insecticide and fungicide Formulations.
IPL has a decade long relationship with a diverse customer such as, Syngenta Asia Pacific Pte Ltd, United Phosphorus, Ascenza Agro, S.A., Conquest Crop Protection Pty Ltd, Sharda Cropchem Ltd and Stotras Pty Ltd.
India Pesticides currently operates out of 2 manufacturing facilities out of the Lucknow and Hardoi in Uttar Pradesh having an aggregate capacity of 19,500 MT for Technicals and 6500 MT for the Formulations vertical. It currently has registrations and licenses for 22 agro-chemical Technicals and 124 formulations for sale in India and 27 agro chemical Technicals and 34 formulations for exports purpose.