Advance Agrolife Files DRHP To SEBI For IPO
Advance Agrolife, a Jaipur-based agrochemical products manufacturing company, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to launch an IPO and raise funds via fresh issue.?
IPO Structure and Details
- The proposed IPO comprises a fresh equity issue of 1,92,85,720 shares with a face value of ?10 for each share.?
- The shares are proposed to be listed on both NSE and BSE.?
- The utilisation of net proceeds from the issue is as follows -
- QIBs: Not more than 50% of the Net Issue
- Non-Institutional Bidders: Not more than 15% of the Net Issue
- Retail Investors: Not more than 35% of the Net Issue
- Choice Capital Advisors Private Limited is the Book Running Lead Manager, with KFin Technologies Limited is the registrar for the issue.?
Utilisation of Funds
The company plans to utilise the funds from the Fresh Issue to fund working capital needs and general corporate purposes.?
Financial Performance
For FY 2024, Advance Agrolife’s revenue from operations stood at ?455.89 crore, up 14.61% from ?397.80 crore for FY23. Their net profit after tax also increased to ?24.73 crore, up 66.5% from 14.86 crore in FY 2023.
Company Profile
Advance Agrolife is engaged in the manufacturing of agrochemical products, such as insecticides, herbicides, fungicides, and plant growth regulators that support the entire lifecycle of crops. For their agrochemical products, the company has received 404 generic registrations, including 376 Formulation Grade registrations and 28 Technical Grade registrations
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