Advance Agrolife IPO opens for bidding on September 30. The IPO is a book build issue of Rs 192.86 crore. The issue is entirely of 1.93 crore fresh shares. The company’s price band is set in a range of Rs 95 to Rs 100 per equity share.
Advance Agrolife IPO: Key dates
Advance Agrolife IPO closes its subscription on October 3. The allotment for the IPO is expected to be finalised on October 6, while it will list on the exchanges, BSE and NSE, on October 08, as per the tentative schedule.
Advance Agrolife IPO: GMP
The shares of Advance Agrolife were trading at a price of Rs 115 in the grey market, fetching a premium of 15% to the issue price. This translates into a potential gain of Rs 2,250 on one lot.
However, GMP is an unofficial place where shares change hands illegally ahead of IPO listing.
Advance Agrolife IPO: Lot size
A retail applicant needs to buy at least 150 shares in a lot, which amounts to Rs 15,000. The lot size investment for a small NII is 14 lots of 2,100 shares, amounting to Rs 2 lakh, and for a big NII, it is 67 lots of 10,050 shares, totalling Rs 10 lakh.
Advance Agrolife IPO: Book runner and registrar
Choice Capital Advisors Pvt Ltd is working as the book-running lead manager for the IPO, and Kfin Technologies Ltd is the registrar of the issue.
About the company
Advance Agrolife is engaged in the business of manufacturing a wide range of agrochemical products that support the entire lifecycle of crops. The company’s products are used in cultivating major cereals, vegetables, and horticultural crops across both Kharif and Rabi seasons in India.
In the agrochemicals section, it makes insecticides, herbicides, fungicides, and plant growth regulators. While in fertilisers, it manufactures micro-nutrient fertilisers and bio-fertilisers. Lastly, in technical grade products, raw active ingredients are used in the production of agrochemical formulations such as pesticides, herbicides, fungicides, and fertilisers.