Agrochemical agency Advance Agrolife Ltd has filed preliminary papers with Sebi searching for its approval to boost funds by an preliminary public providing (IPO).
The Jaipur-based firm’s IPO is solely a contemporary problem of 1.92 crore shares with no offer-for-sale (OFS) part, based on the draft pink herring prospectus (DRHP).
The difficulty features a reservation for subscription by eligible staff and a reduction is being provided to such staff.
Proceeds from the contemporary problem to the tune of Rs 135 crore will probably be utilised for funding working capital necessities and a portion will probably be used for basic company functions, as per the draft papers filed on March 31.
Advance Agrolife is engaged in manufacturing a variety of agrochemical merchandise that help the complete lifecycle of crops. The corporate’s product portfolio consists of pesticides, herbicides, fungicides, and plant progress regulators. It additionally manufactures different agrochemical merchandise corresponding to micro-nutrient fertilizers and biofertilizers.
The corporate primarily operates by its three manufacturing amenities positioned in Jaipur. As of September 2024, the overall put in capability stood at 89,900 MTPA.
Advance Agrolife’s company prospects embrace DCM Shriram, IFFCO MC Crop Science, Indogulf Cropsciences and Mankind Agritech.
Along with serving the home market, the merchandise have been additionally exported to 7 nations together with the UAE, Bangladesh, China (together with Hong Kong), Turkey, Egypt, Kenya, and Nepal.
Advance Agrolife’s income from operations elevated by 14.60 per cent from Rs 398 crore in fiscal 2023 to Rs 456 crore in fiscal 2024. Revenue after tax grew by 66 per cent from Rs 15 crore to Rs 25 crore.
Selection Capital Advisors is the only book-running lead supervisor of the general public problem. The fairness shares are proposed to be listed on the NSE and BSE.
