Godrej Agrovet Limited IPO Details – Date, Company Profile, Allotment, Listing

Godrej Agrovet Limited IPO Details – Date, Company Profile, Allotment, Listing

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Godrej Agrovet Limited
Issue Period-04OCT–06OCT, 2017             Issue Size-25,444,711EqShares (Rs.1157cr)
Issue Price-Rs.450-Rs.460per Eq Share    Market Lot-32Equity Shares
Face Value-Rs 10per Eq Share                      Listing at-BSE, NSE
COMPANY PROFILE
Incorporated in 1991, Godrej Agrovet is India based agri-business Company offering products including Animal Feed, Crop Protection,Oil Palm, Dairy and Poultry and Processed Foods. Godrej Agrovet is leading animal feed company and the largest crude palm oil producer in India.The dairy business is operate through a subsidiary Creamline Dairy. Company sell milk and milk based product sunder the ‘Jersey’ in 5 south India states. Company own nine milk processing units. Company has 2,500 milk product distributors and50 retail parlors.In crop protection business, company produces plant growth regulators, organic manures, generic agrochemicals and specialized herbicides. The products are sold in India and 24 countries. Company has over 6000 distributors in this business segment.
THE OBJECT OF THE ISSUE
a. repayment or prepayment of working capital facilities availed.
b. repayment of commercial papers issued by the Company, and
c. general corporate purposes.
OUR RECOMMENDATION
QIB(more than Rs/-200,000/-)                                        50% of Net Issue size
Non-Institutional(more than Rs/-200,000/-)                15% of Net Issue size
Retail(up to Rs/-200,000/-)                                               35%of Net Issue size

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