BackCrop Life Science IPO: Crop Life IPO to open on August 18, check price band to key dates
Crop Life Science Limited IPO opens on August 18 and closes on August 22, with a price band of ₹52 per share.
PremiumCrop Life Science IPO: Crop Life Science Limited IPO opens for subscription on Friday, August 18, and closes on Tuesday, August 22. Crop Life Science IPO price band has been fixed at ₹52 per equity share of face value of ₹10 each. The minimum lot size of this Crop Life Science IPO is 2000 shares. Crop Life Science IPO issue price is 5.2 times the face value of the equity share.
Crop Life Science IPO consists of fresh issue of 51.40 lakh equity shares aggregating to ₹26.73 crore. There is no offer for sale (OFS) component.
According to company's Red Herring Prospectus (RHP) it intends to use the net proceeds raised through the issue to repay debt, meet long-term working capital requirements, and general corporate purposes.
Rajesh Lunagariya and Ashvinkumar Lunagaria are the company's promoters.
Crop Life Science Limited IPO's basis of allotment of shares will be finalised on Friday, August 25 and the company will initiate refunds on Monday, August 28, while the shares will be credited to the demat account of allottees on Tuesday, August 29. Crop Life Science ltd shares are likely to be listed on NSE SME on Wednesday, August 30.
Crop Life Science IPO's lead manager is Interactive Financial Services Ltd, and the registrar is Purva Sharegistry Pvt Ltd.
As per the RHP, Crop Life Science is an agrochemical company engaged in the business of manufacturing, distributing, and marketing of a wide range of agro chemical formulations. Agriculture chemicals consists of Pesticides and Micro Fertilizer, moreover, the pesticides including Insecticides, Fungicides, Herbicides and Weedicides.
In the year 2006, the company have taken the land admeasuring area of approximately 5831.10 Square Meters on lease basis for a period of 99 years from Gujarat Industrial Development Corporation (GIDC) for our manufacturing unit at GIDC Ankleshwar (Gujarat). We had commenced the manufacturing activities of Pesticides and Micro fertilizer in the year 2006-07.
In the year 2012, it started exporting pesticides to Indonesia. Over a period of time, it has started exporting to Bangladesh, Egypt, Myanmar, Vietnam, Sudan and other countries, the company mentioned in its RHP.
Crop Life Science Limited IPO GMP today or grey market premium is +3, similar to the previous sessions. This indicates that the shares of Crop Life Science IPO GMP were trading at a premium of ₹3 in the grey market on Wednesday, according to topsharebrokers.com.
Considering the upper end of the Crop Life Science price band and the current premium in the grey market, the estimated listing price of Crop Life Science ltd share price is ₹55 apiece, which is 5.77% higher than the Crop Life Science ltd share of ₹52.
The lowest GMP is recorded at ₹0 while the highest GMP is ₹7.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Milestone Alert!Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.
