India PesticidesLimited IPO to open on Wednesday, June 23, 2021 and close on Friday, June 25, 2021

 

·         Price Band ofRs. 290– Rs. 296per equity share offace value of Rs.1each(“Equity Shares”)

·         Bid/Offer Opening Date – Wednesday, June23, 2021 and Bid/Offer Closing Date – Friday, June25, 2021

·         Minimum Bid Lot is50Equity Shares and in multiples of50Equity Shares thereafter

·         The Floor Price is 290times the face value of the Equity Shares and the Cap Price is296 timesthe Face Value of the Equity Shares

 

Risks to Investors: • Average Cost of acquisition of Equity Shares held by the Selling Shareholders, Anand Swarup Agarwal is ₹ 0.03, Mahendra Swarup Agarwal is ₹ 0.01, Virendra Swarup Agarwal is ₹ 0.02, Asha Agarwal is ₹ 0.02, Nupur Goyal is ₹ 0.00 (negligible), Sugandha Swarup Arora is  ₹ 0.01, SnehLata Agarwal is ₹  0.02, Sudha Agarwal is ₹0.02, Shalini Pawan Agarwal is ₹ 0.02, Saurabh Swarup Agarwal is ₹ 0.02, Pramod Swarup Agarwal is ₹0.02, Vishal Swarup Agarwal is ₹ 0.06, Aparna Gupta is ₹ 0.00 (negligible), Vishwas Swarup Agarwal is ₹  0.03, Sanju Agarwal is ₹  0.94, KajareeSwarup Agarwal is ₹ 0.29, Anurag Swarup Agarwal is ₹0.02, and Komal Swarup Agarwal is ₹0.29 per Equity Share, respectively, and the Offer Price at the upper end of the Price Band is at  ₹ 296 per Equity Share.• The two Book Running Lead Managers associated with the Offer have handled 25 public issues in the past 3 years out of which 11 closed below the Offer price on listing date

Lucknow, June 18, 2021:India Pesticides Limited (the “Company”), a R&D driven agro-chemical manufacturer of Technicalsand one of the fastest growing agro-chemicals company in terms of volume of Technicals manufactured, is proposing to openits initial public offering of Equity Shares (the “Offer”)on Wednesday, June 23, 2021. The Offer will close on Friday, June25, 2021.The price band for the Offer has been determined at Rs. 290– Rs. 296per Equity Share. The Company and the Promoter Selling Shareholder have, in consultation with the BRLMs, considered participation by Anchor Investors, which participation shall be one Working Day prior to the bid/offer opening Date, i.e. Tuesday, June 22, 2021. All Bidders (except Anchor Investors) are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process providing details of their respective bank account (including UPI ID for RIBs using UPI Mechanism), in which the corresponding Bid Amounts will be blocked by the SCSBs or the Sponsor Bank, as applicable. Anchor Investors are not permitted to participate in the Offer through the ASBA process.

The total Offer size is up to Rs.800 crores with a Fresh Issue of Equity Shares, aggregating up to Rs.100 croresand an Offer for Sale of Equity Shares aggregating up to Rs. 700crores, by the Selling Shareholders.The Company intends to utilize the proceeds from the Fresh Issue to fund its working capital requirements andfor general corporate purposes.

The Company is the sole Indian manufacturer of five Technicals and among the leading manufacturers globally for Captan, Folpet and Thiocarbamate Herbicide, in terms of production capacity (Source: F&S Reports*).Certain key fungicide Technicalsthe Company manufactures include: (i) Folpet, used to manufacture fungicides that control fungal growth at vineyards, cereals, crops and biocide in paints; and (ii) Cymoxanil, used to manufacture fungicides that control downy mildews of grapes, potatoes, vegetables and several other crops. Major herbicide Technicalsthe Company manufactures include,Thiocarbamate herbicides that have application in field crops, such as, wheat and rice, and are used globally.

The Company currently operates out to 2 manufacturing facilities out of the Lucknow and Hardoi in Uttar Pradesh having an aggregate capacity of 19,500 MT for Technicals and 6,500 MT for the Formulations vertical. It currently has registrations and licenses for 22 agro-chemical Technicals and 125Formulations for sale in India and 27 agro chemical Technicals and 35Formulations for exports purpose.

The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended, read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made in accordance with Regulation 6(1) of the SEBI ICDR Regulations, through the Book Building Process wherein not more than 50% of the Offer shall be available for allocation to Qualified Institutional Buyers, not lessthan 15% of the Offer shall be available for allocation to Non-Institutional Bidders and not lessthan 35% of the Offer shall be available for allocation to Retail Individual Bidders.

Axis Capital Limited and JM Financial Limited are the BRLMs to the Offer.