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News Topical, Digital Desk : Advance Agrolife IPO Listing: The IPO of agrochemical company Advance Agrolife Limited received a strong market response. On the final day of the IPO, the issue was subscribed 56.85 times. Now, on October 8, Advance Agrolife shares were listed on the BSE and NSE. Advance Agrolife Limited shares listed on the NSE at ₹114 per share (Advance Agrolife Share Price), a 14% increase from its issue price.
This IPO was very popular among investors
According to NSE data, the issue received bids for a total of 76,80,36,900 shares, while only 1,35,09,004 shares were available on offer. The Non-Institutional Investors (NII) category saw a huge subscription of 175.30 times. Demand from Qualified Institutional Buyers (QIBs) was 27.31 times and from Retail Investors (RIIs) was 23.06 times. These figures show that the company's IPO was very popular among investors.
Advance Agrolife IPO Price Band Jaipur-based Advance Agrolife Ltd had fixed a price band of Rs 95-100 per share for its Rs 193 crore IPO. This is a completely fresh issue, under which the company is issuing 1.93 crore equity shares.
Advance Agrolife is a rapidly growing company. The company will use approximately ₹135 crore of the funds raised through this issue to meet its working capital needs. The remaining amount will be kept for general corporate purposes. Advance Agrolife is a rapidly growing company operating in the field of agrochemicals. It manufactures products that support the entire lifecycle of crops, such as insecticides, herbicides, fungicides, and plant growth regulators. In addition, the company also produces micro-nutrient fertilizers and biofertilizers.
Read More: Why is the Tata Capital IPO not fully subscribed yet? Is this the real reason, not GMP?
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