Crop Life Science IPO:
August 18 marks the inauguration of Crop Life Science’s initial public offering (IPO), a significant step for the agricultural chemicals manufacturing company. Classified as a Small and Medium Enterprise (SME) IPO, the subscription window for Crop Life Science’s IPO will remain open until August 22.
Aiming to generate ₹26.73 crore, the IPO consists of a fresh issuance of 51.40 lakh equity shares. Notably, the Crop Life Science IPO excludes any Offer for Sale (OFS) component.
Crop Life Science’s shares are scheduled for listing on the NSE EMERGE platform, with the IPO price range set at ₹52 per equity share.
Stay Informed: Crop Life Science IPO Subscription, GMP, and More:
Crop Life Science IPO Subscription Highlights:
On the opening day of the bidding process, the Crop Life Science IPO has garnered a subscription of 36%. As of Friday, bids have been received for 17.48 lakh equity shares out of the offered 51.40 lakh equity shares.
Of note is the subscription trend, with the retail category exhibiting an impressive 77% subscription rate, and the Non-Institutional Investors’ (NII) category displaying a 5% subscription rate. As of 2:00 PM, the Qualified Institutional Buyers (QIB) are yet to participate in the bidding.
Crop Life Science IPO GMP:
Presently, the Grey Market Premium (GMP) for the Crop Life Science IPO stands at ₹3 per share, as indicated by topsharebrokers.com. This suggests that the market value of Crop Life Science IPO shares in the grey market surpasses their issue price by ₹3.
While the GMP offers insights into market sentiment, it should be noted that this is just an estimated listing price and not the sole determinant for investment decisions.
Crop Life Science IPO Details:
Crop Life Science’s IPO adopts a fixed price model, with shares available at ₹52 per share. Each share carries a face value of ₹10.
For retail investors, the minimum investment amount required is ₹104,000, based on a lot size of 2,000 shares.
The allocation of net proceeds from the IPO is slated for debt repayment, meeting long-term working capital needs, and serving general corporate purposes, as outlined in the company’s Red Herring Prospectus (RHP).
Also Read: Crop Life Science IPO Details | GMP, Date, Price, Review
Crop Life Science IPO Dates:
Interactive Financial Services Ltd serves as the lead manager for Crop Life Science’s IPO, while Purva Sharegistry Pvt Ltd takes on the role of registrar.
The subscription window commenced on August 18 and will conclude on August 22. Subsequently, the allotment of shares will be finalized by August 25. Refunds are scheduled to begin on August 28, with allottees seeing their shares credited to their demat accounts by August 29.
About Crop Life Science:
Crop Life Science operates as an agrochemical enterprise involved in the production, distribution, and promotion of a diverse array of agricultural chemical formulations. The realm of agricultural chemicals encompasses both Pesticides and Micro Fertilizers. Additionally, within the pesticide category, there exist subdivisions such as Insecticides, Fungicides, Herbicides, and Weedicides.
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