Indogulf Cropsciences Limited

Indogulf Cropsciences Limited is an Indian agrochemical manufacturer incorporated in 1993, engaged in producing crop protection chemicals, plant nutrients and biologicals. The company is one of the few Indian manufacturers of Spiromesifen technical at 96.5 percent purity since 2019, and one of the first indigenous producers of Pyrazosulfuron Ethyl technical at 97 percent purity, giving it a technical-grade manufacturing base that many formulators in the industry rely on. The company operates four production units across Nathupur in Haryana and Samba in Jammu and Kashmir, spanning roughly twenty acres, and distributes its products across 22 Indian states and 3 union territories as well as more than 34 countries internationally, having been recognised as a Two Star Export House. Its research capability is backed by a NABL-certified laboratory and six patents granted since FY19, supporting a pipeline of technical and formulation products beyond its core molecules. Ownership is held by the promoter group led by Om Prakash Aggarwal, Sanjay Aggarwal, Anshu Aggarwal and Arnav Aggarwal. The company has maintained relatively stable operating and net margins over recent fiscal years, and used its IPO proceeds primarily to fund working capital, reduce borrowings and expand manufacturing capacity through a new dry flowable plant.

The company allocated shares to a set of anchor investors ahead of the IPO opening, including Abakkus Asset Manager, Viney Growth Fund, Swyom India Alpha Fund and Sunrise Investment Trust, with Rajasthan Global Securities alone receiving about Rs 58 crore worth of shares at the issue price of Rs 111.