Advance Agrolife shares make strong debut, list at 14% premium over IPO price

Advance Agrolife shares made a strong debut on the Indian stock market on Wednesday, October 8, listing at a 14 per cent premium over the IPO price of ₹100 per share. Advance Agrolife share price listed at ₹114 on the National Stock Exchange (NSE) and ₹113 on the BSE.

The listing largely matched expectations with the grey market, with Advance Agrolife’s grey market premium (GMP) standing at about 15 per cent just before its debut.

The total market capitalisation of Advance Agrolife stood at ₹732.86 crore after the listing.

Advance Agrolife IPO details

Advance Agrolife IPO was a book build issue of ₹192.86 crore and entirely a fresh issue of 1.93 crore shares.

The IPO price band was set at ₹95 to ₹100 per share, with a minimum amount of investment required by a retail investor of ₹15,000 (150 shares), based on the upper price.

By the end of the third day of bidding, Advance Agrolife’s IPO was subscribed 56.85 times, with investors applying for 76,80,36,900 equity shares against the 1,35,09,004 shares available.

BSE IPO data showed that the Non-Institutional Investor (NII) category drew the highest interest, with bids for 50,63,28,000 shares, translating to 175.30 times subscription compared to the 28,88,358 shares reserved for the segment.

Choice Capital Advisors is the book-running lead manager, and KFin Technologies is the registrar of the issue.

Advance Agrolife produces a wide variety of agrochemical products such as insecticides, fungicides, herbicides, and plant growth regulators. The company also manufactures micronutrients, bio-fertilizers, and technical-grade ingredients that serve as the base for pesticide and fertilizer formulations.

Its portfolio supports key crop cycles and is applied across cereals, vegetables, and horticulture, catering to both domestic and international markets.

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