Advance Agrolife made a strong debut on the Indian stock exchanges on Wednesday, October 8, listing at a 14% premium over its issue price of ₹100 per share. The company’s shares opened at ₹114 on the National Stock Exchange (NSE) and ₹113 on the Bombay Stock Exchange (BSE).
The listing performance was largely in line with market expectations, as the stock’s grey market premium (GMP) hovered around 15% ahead of its debut. Post-listing, the company’s total market capitalisation stood at approximately ₹732.86 crore.
IPO Details
Advance Agrolife’s ₹192.86 crore initial public offering (IPO) was entirely a fresh issue of 1.93 crore equity shares. The price band for the issue was set between ₹95 and ₹100 per share, with retail investors required to make a minimum investment of ₹15,000 for 150 shares at the upper price band.
The IPO saw robust investor participation, recording an overall subscription of 56.85 times by the close of bidding. Investors applied for 76.80 crore shares against the 1.35 crore shares available. The Non-Institutional Investor (NII) segment attracted the highest interest, with bids amounting to 175.30 times the reserved portion.
Choice Capital Advisors acted as the book-running lead manager for the issue, while KFin Technologies served as the registrar.
Company Overview
Advance Agrolife manufactures a comprehensive range of agrochemical products, including insecticides, fungicides, herbicides, and plant growth regulators. It also produces micronutrients, bio-fertilizers, and technical-grade ingredients used in pesticide and fertilizer formulations.
The company’s products cater to key crop cycles in cereals, vegetables, and horticulture, serving both domestic and international markets.
