Surge in Advance Agrolife's IPO: A Fresh Harvest of Opportunities
Advance Agrolife Ltd's IPO was oversubscribed 56.85 times, highlighting high investor demand. The IPO offered 1.93 crore shares, worth Rs 193 crore at Rs 95-100 per share. Proceeds will fund working capital and other corporate needs. The firm manufactures diverse agrochemical products, supporting crop life cycles.
- Country:
- India
Advance Agrolife Ltd's initial public offering (IPO) experienced a phenomenal subscription rate of 56.85 times over, reflecting immense investor interest on its final trading day.
The IPO saw a demand for 76.80 million shares against an offer of 13.51 million, according to NSE data. Non-institutional investors showed an overwhelming 175.30 times interest, while Qualified Institutional Buyers (QIBs) and Retail Individual Investors (RIIs) subscribed 27.31 times and 23.06 times, respectively.
Located in Jaipur, Advance Agrolife set a price band of Rs 95 to Rs 100 per share for this Rs 193-crore IPO. The generated funds will enhance the company's working capital and support other corporate obligations. The firm specializes in a wide array of agrochemical products, encompassing insecticides, herbicides, fungicides, plant growth regulators, micronutrient fertilizers, and biofertilizers, thereby aiding the complete lifecycle of crops.
(With inputs from agencies.)
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