Leading agrochemicals manufacturer India Pesticides Limited made a stellar debut today, June 5 listing at Rs 360 per share, Rs 64 above its issue price of Rs296 per share. 

This is the first listing in July. A total of 24 companies were listed in the first half of this year. 

India Pesticides is one of the fastest-growing agrochemical companies in terms of volume of technicals manufactured, reports Financial Express. 

Also Read | US stocks gain as traders mull recovery 

The company opened its Rs 800-crore public issue on June 23 and closed on June 25. Subscribed 15 times, the issue received overwhelming response from investors across the board. 

Given the strong response to its IPO and the general bullishness around the sector, experts expect the counter to list a double-digit premium, reports moneycontrol.

India Pesticides %u2014 the company

Incorporated in 1984, India Pesticides is an R&D focussed agrochemical company based out of Lucknow. It operates two manufacturing facilities at Lucknow and Hardoi in Uttar Pradesh and caters to more than 25 countries. 

Also Read | Asian markets mostly rise but COVID, inflation fears linger

It is the only Indian manufacturer and amongst the top five companies globally for several technical products such as captan, folpet and cynomoxanil used for making fungicides. The company has also diversified in manufacturing herbicide. 

Revenue record

The company%u2019s total revenue from operations rose by 90.48% between the 2019 and the 2021 fiscals. India Pesticides has managed to maintain its debts position. 

The long-term debt to equity ration was 0.09 in March 2019, 0.06 in 2020 and 0.02 in 2021.

In the current fiscal, India Pesticides%u2019 return on capital employed stood (ROCE) at 45.18% and return on equity (ROE) at 34.63%. 

Also Read |  US stocks rebound following inflation scares

Current status

The shares of the company are currently trading at nearly Rs 360 per share, at a premium of over Rs 64 over the issue price.