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KPR Agrochem plans to raise ₹210 crore through issue of fresh shares via an initial public offering. The IPO, priced between ₹59 and ₹61, will open for subscription on Friday. The earliest closing of the IPO will be July 2.
The promoters will dilute 1.2 crore equity shares through offer for sale.
Equity shares in the IPO are offered at a discount of ₹3 apiece to the retail investors and eligible employees .
The agriculture input company focussed on manufacturing and retailing of a wide range of crop yield-enhancing and protection products will list on the BSE and the NSE.
Raja Sekhar Reddy, Executive Director, KPR Agrochem, said with the government’s focus on agriculture sector, the company expects good growth with sufficient working capital from the IPO.
The QIB and non-institutional investor categories will be of 25 per cent and 35 per cent, while the retail portion will be not less than 40 per cent. The IPO also consists of a reservation of up to 4.3 lakh equity shares for eligible employees.
With focus on its core competency of agriculture inputs, the promoters recently sold off a non-core caustic soda project to Grasim Industries.
KPR Agrochem’s portfolio includes seeds to crop nutrients products to crop protection products and veterinary feed supplements.
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