New Delhi, Jun 25 (PTI) Indogulf Cropsciences on Wednesday said it has garnered over Rs 58 crore from anchor investors, a day ahead of the launch of its initial share sale for public subscription.

Sunil Singhania-led Abakkus Asset Manager, Viney Growth Fund, Swyom India Alpha Fund, Sunrise Investment Trust - Sunrise Investment Opportunities Fund and Rajasthan Global Securities have been allotted shares in the anchor round.

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According to a circular uploaded on the BSE's website, Indogulf Cropsciences allocated 52.43 lakh shares to five entities at Rs 111 per equity share, aggregating the deal value to Rs 58.20 crore.

The Rs 200-crore initial public offering (IPO) will hit the capital markets on June 26 and conclude on June 30. The price band has been set at Rs 105-111 per share.

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The IPO is a mix of a fresh issue of equity shares worth Rs 160 crore and an offer for sale of up to 36.03 lakh shares by promoters Om Prakash Aggarwal (HUF) and Sanjay Aggarwal (HUF).

The proceeds from the fresh issue to the tune of Rs 65 crore will be used for funding working capital requirements, Rs 34.12 crore for repayment of debt, Rs 14 crore for its capital expenditure and general corporate purposes.

Indogulf Cropsciences, which began its operations in 1993, is engaged in the business of manufacturing crop protection products, plant nutrients and biologicals in India.

For the nine months ended December 31, 2024, the company's revenue from operations stood at Rs 464.19 crore, and its profit after tax was Rs 21.68 crore.

The shares of the company will be listed on the BSE and NSE.

Systematix Corporate Services is the sole book-running lead manager, and Bigshare Services is the registrar of the issue.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)