The company plans to file the draft red herring prospectus (DRHP) for IPO with market regulator Sebi by the end of this year, Managing Director Ankur Aggarwal said.
The national capital-based firm will launch four products in the market before start of the kharif sowing season, which will help the company grow faster this fiscal, he added.
"We will file the prospectus by the end of this year. Sebi takes 2-3 months to clear DRHP. Once we get the approval, the January-March quarter is the right time to enter the market. There is an intent, we will see how it goes," Aggarwal told PTI.
Asked about the IPO size, he said: "It is not about just raising money, shareholders should make money. If shareholders are not making money, it does not make sense."
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Aggarwal said the company requires funds for expansion and is looking at acquisition.
"We have chalked out certain expansion plans that's going great. We are looking at certain acquisitions. We acquired a brand from BASF last year," he said.
Aggarwal said the company is looking to double its turnover in the next five years from Rs 1,350 crore last fiscal and hence, the working capital requirements will increase.
The company has three manufacturing facilities -- two in Jammu and one in Haryana. It is into agrochemical, agro- equipment and seed business.
Private equity firm Everstone Capital had invested about USD 30 million in the company in 2012 and had about 9 per cent stake in the company, which has now come down to 3.5 per cent.
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