Should you subscribe to India Pesticides IPO? Here's what analysts say

India Pesticides IPO: Analysts have largely assigned 'Subscribe' rating to the issue on the back of positive growth prospects, strong financials and reasonable valuations

India Pesticides' Rs 800 crore initial public offer (IPO) will open for subscription on Wednesday. The IPO by one of the leading Indian agrochemical manufactures is priced in the range of Rs 290-296 per share, wherein the firm is looking to raise Rs 100 crore by fresh issue of shares of Rs 700 crore by the way of offer for sale (OFS).

The IPO, analysts say, is priced at 25.3 times FY21 earnings, which looks to be attractive compared to the industry’s average multiple of 47 times. Its listed peers like Dhanuka Agritech, Bharat Rasayan and Rallis India are currently