Indogulf Cropsciences' IPO: A 40% Subscription Boost on Day One

Indogulf Cropsciences Ltd's initial public offering garnered a 40% subscription on its first day. Retail Individual Investors showed strong interest with a 69% subscription rate. Meanwhile, anchor investors have contributed over Rs 58 crore, fueling the company's Rs 200-crore fundraising plan, set to conclude on June 30.

Indogulf Cropsciences Ltd witnessed promising interest as its initial public offering achieved a 40% subscription rate on the first day of bidding.

The company, which has been active since 1993 in the crop protection product industry, aims to raise Rs 200 crore with this IPO.

Retail investors led the subscription surge with a 69% rate, while non-institutional investors and QIBs contributed 27% and 5%, respectively.

(With inputs from agencies.)