Jaipur-based Agrochemical Company Advance Agrolife files DRHP for IPO

Jaipur-based Advance Agrolife Limited, an agrochemical company engaged in manufacturing a wide range of agrochemical products that support the entire lifecycle of crops, has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator, Securities and Exchange Board of India (SEBI) to raise funds through Initial Public Offering (IPO). The IPO, with a face value of Rs 10, is entirely a fresh issue of shares up to 19,285,720 with no offer-for-sale component. It includes a reservation for a subscription by eligible employees and a discount is being offered to eligible employees bidding in the employee reservation portion. The proceeds from the fresh issue to the extent of Rs. 135 crores for funding working capital requirements and general corporate purposes. The Offer is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers, and not less than 15% and 35% of the net offer is assigned to non-ins...