India Pesticides' Rs 800 cr IPO to open June 23; price band Rs 290-296

Fresh issue of Rs 100 crore, offer for sale of Rs 700 crore; anchor investors to be allotted shares on Tuesday

India Pesticides has priced its initial public offer (IPO) between Rs 290- Rs 296 per equity share. The IPO will open on June 23 and close on June 25. The anchor investors will be allotted shares on Tuesday.

The Rs 800-crore IPO comprises a fresh issue of Rs 100 crore and an offer for sale of Rs 700 crore. The company intends to utilize the proceeds from the fresh issue to fund its working capital requirements.

India Pesticides is an agrochemicals manufacturer. Revenue generated from exports contributed to 56.7 per cent of the company's revenue from operations in fiscal 2021.