Indogulf Cropsciences Limited IPO

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Incorporated in 1993, the company is a leading Indian agrochemical manufacturer engaged in the production and export of crop protection products, plant nutrients, and biologicals, with a mission to enhance crop yield and promote sustainable agriculture. With over 30 years of industry experience, the company has built a strong foundation driven by innovation, backward integration, and a wide domestic and international distribution network.

Business Verticals

  1. Crop Protection Products:
    The company manufactures a wide range of insecticides, herbicides, fungicides, plant growth regulators, and technical-grade active ingredients such as Lambda Cyhalothrin, Glyphosate, Spiromesifen, and Pyrazosulfuron Ethyl. Products are available in various formulations including WDG, SC, CS, ULV, EW, SG, and FS, catering to a broad range of crops such as cereals, oilseeds, pulses, vegetables, and plantations.

  2. Plant Nutrients:
    Under this vertical, the company produces fertilizers and nutrient deficiency correctors such as Jagromin-99, Zinc Super Gold, and NPK 13-0-45. These products aim to improve soil health, enhance produce quality, and increase crop productivity.

  3. Biologicals:
    The company offers innovative bio-stimulants and bio-fertilizers including seaweed extract (Breeza), humates (Apache), mycorrhiza (Root-o-Max Gold), and advanced combinations (Empire) to support sustainable and chemical-free farming.

Manufacturing & Infrastructure

It Operates four ISO-certified manufacturing units in Jammu & Kashmir and Haryana, spread over ~20 acres. Its Facilities support both formulation and technical-grade production, offering multi-purpose flexibility. Company Implements backward integration to produce critical raw materials in-house (e.g., Bifenthrin, Lambdachloride, Cloquintocet safener), enhancing margin control and reducing import dependency.

Global Reach & Distribution Network

The company has a strong global footprint with sales in over 34 countries and 143 overseas partners. Domestically, it operates across 22 states and 3 Union Territories with 192 B2B partners, 6,916 distributors, 17 stock depots, and 6 sales offices. Recognized as a Two Star Export House, it also uses digital platforms for real-time tracking, ordering, and customer engagement.

Major institutional clients: Krishi Rasayan Exports, Parijat Industries, BR Agrotech, Crystal Crop Protection

Key suppliers: Coromandel International, GSP Crop Science, MaxxGro, and Chinese partners like Dagro Chemical and Hubei Benxing

Competitive Strengths

i) Diversified Product Portfolio across three high-growth verticals with over 260 products
ii) Strong R&D and Innovation Capabilities, leading to patented technologies and product upgrades
iii) Established Distribution Network with deep market penetration in India and 34+ countries
iv) Backward Integrated Manufacturing, ensuring cost efficiency, quality control.
v) Experienced Promoters and Management Team, with over 30 years of industry knowledge
vi) High Entry Barriers in Agrochemical Industry, providing a strong competitive moat due to regulatory complexities and capital-intensive operations

Objects of the Indogulf Cropsciences Limited IPO:

The Company proposes to utilize the net proceeds towards funding the following objects: 1. Funding working capital requirements of the Company (₹65 cr) 2. Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by the Company (₹34.1 cr) 3. Capital expenditure of Company for setting up an in-house dry flowable (DF) plant at Barwasni, Sonipat, Haryana (₹14 cr) 4. General corporate purposes
DRHP of Indogulf Cropsciences Limited IPO
RHP of Indogulf Cropsciences Limited IPO

Indogulf Cropsciences Limited IPO Details:

Open Date: Jun 26 2025
Close Date: Jun 30 2025
Total Shares: 1,80,18,017
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Building
Issue Size: 200 Cr.
Lot Size: 135 Shares
Issue Price: ₹ 105-111 Per Equity Share
Listing At: NSE,BSE

Promoters And Management:

1. Om Prakash Aggarwal, aged 75 years, is the Chairman and Whole time Director (Executive) and one of the Promoters of our Company. He holds a bachelor’s degree in commerce from University of Delhi, Delhi. He has over 31 years of experience in the agrochemical industry. He has been associated with our Company since 1993. 2. Sanjay Aggarwal, aged 51 years, is Managing Director and one of the Promoters of our Company. He holds a bachelor’s degree in commerce from the University of Delhi and a master’s degree in business administration (marketing and finance) from IIBM Institute of Business Management, Maharashtra. He has also qualified the intermediate examination held by the Institute of Cost and Work Accountants of India. He has over 30 years of experience in the agrochemical industry. He has been associated with the Company in the capacity of a director since incorporation of our Company and as a Managing Director since 2021. 3. Anshu Aggarwal, aged 51 years, is a Non-Executive Non-Independent Director and one of the Promoters of our Company. She holds a bachelor’s degree in arts from the University of Delhi and a diploma in interior design from South Delhi Polytechnic for Women, Vocation Education Society, New Delhi. She has over 6 years of experience in the agrochemical industry. She has been associated with the Company in the capacity of Non-Executive Director since 2018.

Financials of Indogulf Cropsciences Limited IPO: 

To be updated shortly

Comparison With Peers:

To be updated shortly

Lead Manager of Indogulf Cropsciences Limited IPO:

  1. Systematix Corporate Services Limited

Registrar of Indogulf Cropsciences Limited IPO:

  1. Bigshare Services Private Limited

Discussion on Indogulf Cropsciences Limited IPO:

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