India Pesticides likely to list at 15-19% premium, hints grey market trends

Analysts say the company's strong fundamentals, reasonable valuations and sectoral position are among factors that are likely to help the company debut on a positive note

India Pesticides shares are poised to debut on the bourses on Monday with handsome listing gains, say grey market watchers, as the shares are commanding a premium of Rs 45-55 per share in the grey market. This implies an upside of 15-19 per cent over the issue price of Rs 296 per share.

The initial public offer (IPO) by the agrochemical firm that ran between between June 23-25 was subscribed 29 times, with the non-institutional quota garnering 51.88 times bids, the qualified institutional category 42.95 times and the retail individual category 11.30 times.

Analysts say the company's strong fundamentals, reasonable