The price band for India Pesticides Ltd’s initial public offering (IPO) has been fixed at Rs 290-296 a share. The issue will open on 23 June and close on 25 June. The company aims to raise Rs 800 crore from the IPO which comprises a fresh issue of Rs 100 crore and an offer for sale (OFS) of Rs 281.40 crore by Anand Swarup Agrawal and Rs 418.60 crore by other shareholders and promoters.

As of September, Agarwal held 40.07 per cent stake in the company. Axis Capital and JM financials are the lead managers to the issue. Proceeds from the issue will be used for funding working capital requirements.
For the six months ended September, the company reported a revenue of Rs 333.84 crore, up 52 per cent on year, while net profit jumped 170 per cent to Rs 72.50 crore.

India Pesticides has two operating verticals, technicals and formulations. It operates out of two manufacturing facilities in Lucknow and Hardoi in Uttar Pradesh, having an aggregate capacity of 19,500 MT for technicals and 6,500 MT for the formulations vertical.

It has registrations and licenses for 22 agrochemical technicals and 124 formulations for sale in India, and 27 agro chemical technicals, and 34 formulations for exports.