Indogulf Cropsciences IPO: Bidding for the initial public offering (IPO) of Indogulf Cropsciences Limited ends this evening. This means primary market investors have just one day to apply for the initial offer. The company’s offer worth ₹200 crore received a tepid response in the first two days of subscription. According to Indogulf Cropsciences’ IPO subscription status, available on the BSE website, the public issue has been subscribed to 0.94 times. According to market observers, shares of Indogulf Cropsciences Limited are available at a premium of ₹17 in the grey market today, which is around 15 per cent of the Indogulf Cropsciences IPO price band of ₹105 to ₹111 per equity share.

Indogulf Cropsciences IPO GMP today

As mentioned above, today’s Indogulf Cropsciences IPO GMP (Grey Market Premium) is ₹17, ₹10 higher than the weekend’s Indogulf Cropsciences IPO GMP of ₹10. This rise in the Indogulf Cropsciences IPO GMP today can be attributed to the continuous upside in the secondary market for the last four straight sessions, said market observers. They expected more upside in the grey market sentiments regarding Indogulf Cropsciences IPO, provided the bull trend on Dalal Street continues.

Indogulf Cropsciences IPO subscription status

After two days of bidding, the public issue had been booked 0.94 times, the retail portion of the initial public offer had been subscribed 1.55 times, the NII segment had been filled 0.85 times, and the QIB portion had been booked 0.05 times.

Indogulf Cropsciences IPO review

Anand Rathi has assigned a ‘subscribe’ tag to the book-build issue, saying, “On valuation parse, based on annualised FY25, it is seeking PE of 24.6 times, and post-issue market cap comes at ₹7,015 Mn, with this, the issue is fairly priced. Despite raw material price volatility in past years, the company has posted stable top and bottom lines. ICL can achieve long-term growth with backwards-integrated manufacturing facilities, focused R&D capabilities, a strong distribution and sales network, and a diversified product portfolio. The industry that the company caters to is cyclical, highly dependent on government initiatives, and a shift in consumer preference for organic production. With its fully priced scenario, we believe ICL is a long-run growth story requiring timely mass initiatives to boost agricultural growth and increase awareness of sustainable farming. So we give a “SUBSCRIBE” rating for the issue.”

BP Wealth has also assigned a ‘subscribe’ tag to Indogulf Cropsciences IPO, saying, “The issue is valued at a P/E ratio of 21.8x on the upper price band based on FY25 earnings (annualized). We, thus, recommend a “SUBSCRIBE” rating for this issue.”

In addition, Adroit Financial Services, Canara Bank Securities, Marwadi Shares and Finance, Master Capital Services, Prithvi Finmart, SMIFS, and Ventura Securities have assigned the Indogulf Cropsciences IPO a ‘subscribe’ tag.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.