India Pesticides Limited IPO: From price to grey market listing, all you need to know about IPO opening today

The India Pesticides Limited initial public offering (IPO) has opened today on Wednesday, 23 June. While the India Pesticides Limited IPO has received a subscribe with caution rating from Rajnath Yadav of Choice Broking, Research Analyst at Hem Securities Astha Jain has given a subscribe rating to the IPO, reported Economic Times. Let us take a look at the details of India Pesticides Limited IPO: The IPO size is Rs 800 out of which Rs 700 crore are to be raised from the offer for sale (OFS) while Rs 100 crore will be raised via fresh equity shares. The price band of the public issue has been fixed at Rs 290 to Rs 296. The lot size of India Pesticides Limited IPO is 50. Bidders can subscribe for a maximum of 13 lots. Therefore, if a bidder applies for the maximum number of lots then the maximum investment limit will be Rs 1,92,400 (considering the upper end of the price band). The minimum investment limit for the IPO is Rs 14,800 as the bidder needs to apply for at least 50 shares. The allotment of the India Pesticides Limited IPO which opens today will be finalised by Wednesday, 30 June. The IPO shares are expected to be listed at BSE and NSE on 5 July. After the listing, the promoters’ holding in the IPO will be reduced to 72 percent. Currently, it is 82.68 percent. Today, the India Pesticides Limited IPO grey market premium has slightly increased from Rs 68 to Rs 70. The IPO is a book-build issue. IT has a face value of Re 1 per equity share.