New Delhi, October 8(HS): Agrochemical manufacturer Advance Agrolife Limited, which sells fertilisers and pesticides directly to corporate clients on a B2B basis, enjoyed a robust debut on the stock exchanges today. The IPO, priced at ₹100 per share, listed on the BSE at ₹113 — a 13% premium — and on the NSE at ₹114, representing a 14% premium.

Despite some post-listing profit booking, the stock was trading at ₹109 by 10:30 a.m., securing a 9% gain for IPO investors.The ₹392.86 crore IPO, open from September 30 to October 3, was met with overwhelming demand, achieving an overall subscription of 56.90 times.

The QIB portion was subscribed 27.31 times, NII a staggering 175.30 times, the retail portion 23.14 times, and the employees’ quota 38.42 times. The issue comprised 1,92,85,720 fresh equity shares of ₹10 face value. Funds raised will be used to meet working capital requirements and general corporate purposes.

Financial data indicates consistent strengthening of performance. Net profit rose from ₹14.87 crore in FY 2022–23 to ₹24.73 crore in FY 2023–24, and further to ₹25.64 crore in FY 2024–25. Revenue logged a CAGR of over 12%, reaching ₹502.88 crore in FY 2024–25.

Debt, however, climbed from ₹25.29 crore at the end of FY 2022–23 to ₹80.45 crore in FY 2024–25. Reserves and surplus increased from ₹46.10 crore in FY 2022–23 to a peak of ₹70.76 crore in FY 2023–24 before moderating to ₹55.87 crore in FY 2024–25.

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Hindusthan Samachar / Jun Sarkar