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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Funding working capital requirements
To meet the incremental working capital needs of the company's expanding agrochemical manufacturing operations.
General corporate purposes
To support ongoing corporate initiatives, administrative expenses, and strategic business requirements.
(₹ in Crore)
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Incorporated in 1984, India Pesticides Limited (IPL) is a leading R&D-driven agrochemical manufacturer in India. The company operates across two core business verticals: Agrochemical Technicals and Formulations. It manufactures high-value Technicals, including active ingredients for herbicides, fungicides, and active pharmaceutical ingredients (APIs). IPL operates two state-of-the-art manufacturing facilities located in Uttar Pradesh at Lucknow and Hardoi. It is among the top global manufacturers of key technicals such as Folpet and Thiocarbamate herbicides. The company exports its products to over 25 countries across North America, Europe, Asia-Pacific, and South America, with export sales contributing over 55% of total revenue. Backed by dedicated R&D facilities recognized by the Department of Scientific and Industrial Research (DSIR), IPL continuously advances its chemical synthesis capabilities. Its customer base includes major global agrochemical corporations such as Syngenta, UPL, and Stahler USA.
India Pesticides Limited raised ₹240 crore from 12 institutional anchor investors on June 22, 2021, allocating 8,108,107 equity shares at ₹296 per share. Notable anchor participants included Abu Dhabi Investment Authority, Wells Fargo, BNP Paribas, SBI Mutual Fund, and Nippon Life India Mutual Fund.
Source: RHP • Analysis provided for informational purposes
Last Updated: 28 July 2026, 6:57 AM
Leading Position in Agrochemical Technicals
The company is a top global manufacturer of key technicals including Folpet and Thiocarbamate herbicides with a strong international market footprint.
Diversified Product Portfolio and Global Reach
IPL exports its agrochemical products to more than 25 countries, deriving over half of its revenue from overseas markets and key global clients.
Strong In-House R&D Capabilities
With DSIR-approved research facilities, the company focuses on process innovation, cost-efficient chemical synthesis, and regular expansion into active ingredients.
Robust Financial Track Record
The business has demonstrated consistent top-line and bottom-line growth alongside healthy return metrics and low leverage prior to its listing.
Dependence on Top Products and Customers
A significant portion of total revenue is derived from a limited set of key technical products and top institutional clients.
Regulatory and Environmental Hazards
Agrochemical manufacturing is subject to stringent environmental compliance regulations, chemical handling bans, and export licensing requirement changes.
Raw Material Price Volatility
Fluctuations in raw material prices or supply chain disruptions for key chemical intermediates could adversely affect operational margins.
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Working Capital Intensity
The business model requires significant working capital to manage raw material inventories, seasonal credit cycles, and trade receivables.