Crop Life Science IPO: The initial public offering (IPO) of Crop Life Science, the agricultural chemicals manufacturer, opened today, August 18. The Crop Life Science IPO is an SME IPO and its subscription period ends on August 22.
Crop Life Science aims to raise ₹26.73 crore for the IPO consisting of fresh issue of 51.40 lakh equity shares aggregating. There is no offer for sale (OFS) component in the Crop Life Science IPO.
Crop Life Science shares will be listed on the NSE EMERGE platform. Crop Life Science IPO price band has been fixed at ₹52 per equity share.
Check out Crop Life Science IPO subscription status, GMP today and other key details:
Crop Life Science IPO Subscription Status
Crop Life Science IPO has been subscribed 84% on Friday, the first day of the bidding process. The issue received bids for 41.16 lakh equity shares as against 51.40 lakh equity shares on the offer.
The public issue was subscribed 1.52 times in the retail category, and 17% in the Non-Institutional Investors’ (NII) category. The Qualified Institutional Buyers (QIB) are yet to bid for the IPO.
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Crop Life Science IPO GMP Today
Crop Life Science IPO GMP today, or grey market premium today, is ₹3 per share, according to topsharebrokers.com. This means that Crop Life Science IPO shares are trading higher by ₹3 in the grey market than their issue price.
Considering the GMP today and the issue price, Crop Life Science shares listing is expected to be at ₹55 apiece ( ₹52 + ₹3).
However, GMP alone is not the sole factor that can be used for making investment decisions. It is just an indicative listing price, as per market observers.
Crop Life Science IPO Details
Crop Life Science IPO is a fixed price issue and the shares are sold at ₹52 apiece. The face value of Crop Life Science shares is ₹10 each.
The Crop Life Science IPO lot size is 2,000 shares and the minimum investment amount required by retail investors is ₹104,000.
The company intends to use the net proceeds raised through the issue to repay debt, meet long-term working capital requirements, and general corporate purposes, according to the company’s Red Herring Prospectus (RHP).
Crop Life Science IPO’s lead manager is Interactive Financial Services Ltd, and the registrar is Purva Sharegistry Pvt Ltd.
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Crop Life Science IPO Dates
Crop Life Science IPO opened for subscription on Friday, August 18, and will close on Tuesday, August 22.
The basis of allotment of shares will be finalised on August 25 and the company will initiate refunds on August 28, while the shares will be credited to the demat account of allottees on Tuesday, August 29.
Crop Life Science shares are likely to be listed on NSE SME on Wednesday, August 30.
About Crop Life Science
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.
