Mumbai: Delhi-based agrochemical company, Indogulf Cropsciences, has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) to raise capital through an Initial Public Offering (IPO). The IPO will consist of a fresh issue of shares worth up to ₹200 crore and an offer for sale of 38.54 lakh equity shares by existing shareholders.Of the ₹200 crore from the fresh issue, ₹100 crore will be allocated to meet the company’s working capital needs, ₹40 crore will be used for the repayment of certain loans, and ₹14 crore is earmarked for capital expenditure to establish a dry flowable (DF) plant in Barwasni, Sonipat, Haryana. The remaining funds will go towards general corporate purposes.Founded in 1993, Indogulf Cropsciences operates across three key sectors: crop protection, plant nutrients, and biological products. The company serves both retail and institutional customers, providing solutions to improve crop productivity. Notably, it was the first Indian company to produce Pyrazosulfuron Ethyl technical with at least 97% purity in 2018, and Spiromesifen Technical, with 96.5% purity, in 2019.A recognized exporter of crop protection and biological products, Indogulf Cropsciences has earned the ‘Two Star Export House’ status from the Government of India. Its extensive portfolio includes various product formulations in powder, granule, and liquid forms, aimed at enhancing crop yields and promoting sustainable agricultural practices.
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