IPO Details
MainboardListed
Open:Tue, 30 Sept 2025
Close:Fri, 03 Oct 2025
Lot Size:150 Shares
Price Band:₹ 95 - ₹ 100
Listing:NSE, BSE
Fresh Issue:192.86 Cr
OFS:-
Total IPO Size:192.86 Cr
QIB : 50%
Retail : 35%
Total HNI : 15%
IPO Timeline
| Event | Date |
|---|---|
| Open Date | 30-09-2025 , Tuesday |
| Close Date | 03-10-2025 , Friday |
| Tentative Allotment | 06-10-2025 , Monday |
| Tentative Listing Date | 08-10-2025 , Wednesday |
| Retail Appl. Cut Off Time | 03-10-2025 , Friday 05:00 PM |
| Non Retail Appl. Cut Off Time | 03-10-2025 , Friday 04:00 PM |
| Anchor Allotment | 29-09-2025 , Monday |
| Initiation Of Refund | 07-10-2025 , Tuesday |
| Credit Of Share To Demat | 07-10-2025 , Tuesday |
Subscription Data
IPO Structure
| Category | Percentage | No. of Shares Offered | Amount |
|---|---|---|---|
QIB | 50.00 % | 96,27,860 | 96.28 Cr |
Retail | 35.00 % | 67,39,502 | 67.40 Cr |
Total HNI | 15.00 % | 28,88,358 | 28.89 Cr |
SHNI | 5.00 % | 9,62,786 | 9.63 Cr |
BHNI | 10.00 % | 19,25,572 | 19.26 Cr |
Employee | 0.00 % | 30,000 | 0.28 Cr |
Lot Size Details
| Application | Discount | Qty (Lot) | Total |
|---|---|---|---|
Retail MIN | - | 150 (1) | ₹ 15,000 |
Retail MAX | - | 1950 (13) | ₹ 1,95,000 |
SHNI MIN | - | 2100 (14) | ₹ 2,10,000 |
SHNI MAX | - | 9900 (66) | ₹ 9,90,000 |
BHNI MIN | - | 10050 (67) | ₹ 10,05,000 |
Employee MIN | ₹ 5 | 150 (1) | ₹ 14,250 |
Employee MAX | ₹ 5 | 5250 (35) | ₹ 4,98,750 |
Financials
Profit & Loss (Values In Crore)
| Particulars | March 2025 | March 2024 | March 2023 |
|---|---|---|---|
Revenue | 502.88 | 457.21 | 397.97 |
Expenses | 467.68 | 423.92 | 377.85 |
Profit before Tax | 35.20 | 33.29 | 20.12 |
Tax Expense | 9.56 | 8.56 | 5.25 |
Profit for the Year | 25.64 | 24.73 | 14.87 |
Basic EPS In Rs. | 5.70 | 5.50 | 3.30 |
Diluted EPS In Rs. | 5.70 | 5.50 | 3.30 |
Balance Sheet (Values In Crore)
| Particulars | March 2025 | March 2024 | March 2023 |
|---|---|---|---|
Non Current Assets | 79.01 | 51.81 | 23.56 |
Current Assets | 272.46 | 207.75 | 155.91 |
Total Assets | 351.47 | 259.56 | 179.47 |
Equity share capital | 45.00 | 4.50 | 4.50 |
Other Equity | 55.87 | 70.76 | 46.10 |
Total Equity | 100.87 | 75.26 | 50.60 |
Non Current Liabilities | 15.64 | 14.42 | 6.32 |
Current Liabilities | 234.96 | 169.87 | 122.55 |
Total Liabilities | 250.60 | 184.29 | 128.87 |
Total Equities and Liabilities | 351.47 | 259.56 | 179.47 |
Cash Flow Statement (Values In Crore)
| Particulars | March 2025 | March 2024 | March 2023 |
|---|---|---|---|
Cash Flow From Operating Activities | 5.713 | 14.841 | 6.232 |
Cash Flow From Investing Activities | -33.871 | -31.084 | -8.071 |
Cash Flow From Financing Activities | 28.277 | 16.629 | 1.442 |
Net Cash Flow | 0.119 | 0.385 | -0.397 |
Peer Comparison
| Particulars | Advance Agrolife IPO | Dharmaj Crop Guard Ltd | Insecticides India Ltd | Heranba Industries Ltd | PI Industries Ltd | Sharda Cropchem Ltd |
|---|---|---|---|---|---|---|
Revenue from Operation | 5,022.60 | 9,510.44 | 19,999.50 | 14,097.30 | 79,778.00 | 43,198.53 |
P/E Ratio | N/A | 34.60 | 16.99 | N/A | 34.29 | 30.33 |
Basic EPS | 5.70 | 10.68 | 48.38 | 0.77 | 109.44 | 33.74 |
Diluted EPS | 5.70 | 10.30 | 48.38 | 0.77 | 109.22 | 33.74 |
NAV per share | 22.42 | 116.70 | 372.74 | 210.15 | 668.22 | 277.21 |
Face Value of Share | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
RoNW (%) | 29.11 | 9.24 | 13.55 | 0.37 | 17.58 | 12.85 |
Key Performance Indicators (KPIs)
| KPI | Fiscal 2025 | Fiscal 2024 | Fiscal 2023 |
|---|---|---|---|
Revenue from Operations | 502.26 | 455.90 | 397.81 |
EBITDA | 48.25 | 40.21 | 25.22 |
EBITDA Margin (%) | 9.61 | 8.82 | 6.34 |
Net Profit after tax | 25.64 | 24.73 | 14.87 |
Net Profit Margin (%) | 5.10 | 5.42 | 3.74 |
Return on Net Worth (%) | 29.11 | 39.30 | 34.46 |
Return on Capital Employed (%) | 27.02 | 37.62 | 34.38 |
Debt-Equity Ratio | 0.80 | 0.60 | 0.50 |
Days Working Capital | 74.00 | 55.00 | 48.00 |
Objectives
| Objective | No Of Shares | Amount |
|---|---|---|
Fresh Issue | 1,92,85,720 | 192.86 Cr |
Pre-Post Share Holdings
Particulars | Pre IPO | Post IPO | ||
|---|---|---|---|---|
No. of Shares | % | No. of Shares | % | |
Promotor | 4,49,30,000 | 99.84 | 4,49,30,000 | 69.89 |
Pre IPO - Investor | — | — | ||
Public | 70,000 | 0.16 | 1,93,55,720 | 30.11 |
Total | 4,50,00,000 | 100.00 | 6,42,85,720 | 100.00 |
Contact Details
IPO Contact Details
Registered Office
E - 39, RIICO Industrial Area Ext. Bagru,
Jaipur – 303 007, Rajasthan, India
Corporate Office
301, 3rd Floor & 140-B Pandit, TN Mishra Marg,
Nirman Nagar, Jaipur – 302 019, Rajasthan, India
Contact Person
Nisha Gupta - Company Secretary and Compliance Officer
Telephone
Website
Registrar to Issue Details
Registrar Name
KFin Technologies Limited
Contact Person
M Murali Krishna
Telephone
Website
Lead Managers
| Name | Contact Person | Telephone | Website | |
|---|---|---|---|---|
Choice Capital Advisors Private Limited | Nimisha Joshi / Yogesh Mody | +91 22 6707 9999 / 7919 | aal.ipo@choiceindia.com | www.choiceindia.com/merchant-investment-banking |