
Shares of Indogulf Cropsciences made its Dalal Street debut as the agrochemical player was listed at par on both BSE and NSE, leaving investors disappointed on its listing. The counter kicked-off its maiden trading session at Rs 111 apiece, which is the issue price for the stock.
The listing of Indogulf Cropsciences has been below expected lines. Ahead of its listing, shares of Indogulf Cropsciences were commanding a grey market premium (GMP) of Rs 18 per share, suggesting a listing pop of about 16-17 per cent for the investors.
The IPO of New Delhi-based Indogulf Cropsciences was open for bidding between June 26 and June 30, 2025. It had offered its shares in the price band of Rs 105-111 per share with a lot size of 135 shares. The company raised a total of Rs 200 crore from its IPO, which included a fresh share sale of Rs 160 crore and offer-for-sale (OFS) of 36.03 lakh shares.
The issue was overall subscribed 25.98 times, attracting bids with more than 6.48 lakh applications . The portion for qualified institutional bidders (QIBs) was booked 33.26 times, while the quota for non-institutional investors (NIIs) was subscribed 48.39 times. The allocations retail investors and employees were subscribed 14.78 times and 1.09 times, respectively.
Incorporated in 1993, New Delhi-based Indogulf Cropsciences is engaged in manufacturing crop protection products, plant nutrients, and biologicals in India. It manufactures Spiromesifen technical with 96.5 per cent purity in 2019 and is one of the first indigenous manufacturers of Pyrazosulfuron Ethyl technical with 97 per cent purity in India.
Analysts were mostly positive on the issue. Systematix Corporate Services is the book-running lead manager of the Indogulf Cropsciences IPO, while Bigshare Services is the registrar for the issue. Allotment shall be finalized by Tuesday, July 1 and shares of the company shall be listed on both NSE and BSE.