Indogulf Cropsciences IPO Day 3 update: Subscription lags at 93%, GMP 15%

Indogulf Cropsciences IPO Day 3 subscription status: The highest demand for the public offering came from retail investors, who oversubscribed the category reserved for them by 1.54 times.

Indogulf Cropsciences IPO Day 3 subscription status: The three-day subscription window to bid for the initial public offering (IPO) of Indogulf Cropsciences is set to conclude today, June 30, 2025. The public offering, which opened for bidding on Thursday, June 26, has received a muted response from investors so far. 

 

According to data available on the National Stock Exchange (NSE), Indogulf Cropsciences IPO has received bids for 1,24,79,940 shares against 1,33,65,710 shares on offer, resulting in a subscription of only 93 per cent till 5 PM, Friday, June 27, 2025. 

 

The highest demand for the public offering came from retail investors, who oversubscribed the category reserved for them by  1.54 times. This was followed by the Non-institutional investors (NIIs) category subscribing only 85 per cent of the portion reserved for them, employees' quota was booked 15 per cent and Qualified institutional buyers (QIBs) bid for only 5 per cent of the reserved quota.

 

Indogulf Cropsciences IPO GMP

According to sources tracking unofficial market activities, Indogulf Cropsciences shares were quoted trading at around ₹128 apiece, reflecting a grey market premium (GMP) of ₹17 or 15.3 per cent over the upper end of the issue price. 

Check HDB Financial IPO allotment status

Indogulf Cropsciences details

Indogulf Cropsciences aims to raise ₹200 crore through a combination of a fresh issue of 14.4 million equity shares aggregating to ₹160 crore and an offer for sale (OFS) of 3.6 million shares aggregating to ₹40 crore.

 

The public offering is available at a price band of ₹105-111 per share, with a lot size of 135 shares. A retail investor can bid for a minimum of 135 shares with an investment amount of ₹14,985 (at the upper end of the IPO price) and in multiples thereof.

 

As the subscription window concludes today, the basis of allotment for Indogulf Cropsciences IPO shares is likely to be finalised on Tuesday, July 1, 2025. The successful allottees will receive the company's shares in their demat accounts by Wednesday, July 2, 2025.

 

Indogulf Cropsciences shares are slated to list on the NSE and BSE, tentatively on Thursday, July 3, 2025.

 

Bigshare Services serves as the registrar for the public issue. Systematix Corporate Services is the sole book-running lead manager.

 

According to the red herring prospectus (RHP), the company plans to use ₹65 crore from the net fresh issue proceeds for funding its working capital requirements and ₹34.12 crore for repayment or prepayment of certain outstanding borrowings. In addition, ₹14 crore will be used for setting up an in-house dry flowable (DF) plant at Barwasni, District Sonipat in Haryana. The remaining funds will be used for general corporate purposes. 

About Indogulf Cropsciences

Incorporated in 1993, Indogolf Cropsciences operates in the agrochemical sector, specialising in the manufacturing of crop protection products, plant nutrients, and biologicals in India. The company manufactures and markets an extensive range of products in all types of available formulations such as water-dispersible granules, suspension concentrate, capsule suspension, ultralow volume, emulsion in water, soluble granule, flowable suspension, etc. which can be in powder, granules and liquid form to its customers. 

 

Indogulf Cropsciences operates four manufacturing facilities including one in Samba (Jammu & Kashmir), two in Nathupur (Haryana) and one in Barswani, (Haryana). The company's diverse product portfolio caters to various crops, including cereals, pulses and oilseeds, fibre crops, plantations, and fruits and vegetables.