- IPO Details: Advance Agrolife’s ₹192.86 Cr public issue (100% fresh) priced at ₹95–100/share (lot size 150) closes Oct 3 economictimes.indiatimes.com business-standard.com. Tentative listing on BSE/NSE is Oct 8 1 .
- Subscription: By Oct 3 afternoon the IPO was massively oversubscribed – ~55× overall livemint.com (Retail 20.57×, HNI/Non-Institutional 173.78×, QIB 24.97×). Even by mid-morning Day 3 it was ~2.9× 2 .
- Grey Market: Unofficial trades peg Advance Agrolife at ~₹115/share, a ₹15 (15%) premium over the ₹100 cap business-standard.com moneycontrol.com, implying strong listing gains.
- Company: Jaipur-based Advance Agrolife is an integrated agrochemical maker (insecticides, herbicides, fungicides, growth regulators, micronutrients, bio-fertilisers) moneycontrol.com. FY2025 sales ~₹502 Cr, profit ₹25.6 Cr moneycontrol.com; RoNW ~29%. Top-5 customers contributed ~52% of revenue, a concentration risk 3 .
- Use of Funds: ~₹135 Cr for working capital; remaining for corporate purposes moneycontrol.com 4 .
Advance Agrolife’s maiden public issue has garnered a feeding frenzy of investor interest. The ₹192.86 Cr IPO (19.3 million shares at ₹95–100) opened Sep 30 and closed Oct 3, 2025 economictimes.indiatimes.com goodreturns.in. Data from NSE/IPO platforms show subscription surging on the final day: by 3:48 PM on Oct 3, total bids were 54.61 timesthe available shares livemint.com. Retail bids were 20.57×, non-institutional (HNI) a staggering 173.78×, and QIBs ~25×. (By contrast, the morning of Day 3 saw only ~2.93× total goodreturns.in.) This late rally led to a 9.17× oversubscriptionas of noon Oct 3 business-standard.com, up from ~1.87× by Day 2 end 5 .
The grey market confirms the buzz. Unofficial dealers report Advance Agrolife trading at ~₹115 per share, about ₹15 above the top IPO price of ₹100 business-standard.com moneycontrol.com. That 15% premium matches listing gains seen in similar IPOs. For example, Moneycontrol notes an InvestorGain survey with GMP ₹15 (implying ~₹115 listing) moneycontrol.com. Such grey-market premiums often presage strong listing-day performance.
Advance Agrolife itself is a fully integrated agrochemical manufacturer based in Rajasthan moneycontrol.com. Its product range spans crop protection from seeding to harvest, and it also makes fertilizer supplements. The company has 3 factories (Jaipur) and sells mainly through B2B channels to large agribusinesses. FY25 revenue was ~₹502 Cr (up ~10% y/y) with net profit ₹25.6 Cr moneycontrol.com. Management is promoter-driven (Chairman Om Prakash Choudhary and family hold >90% share). The business has strong return ratios (RoNW ~29%) indmoney.com, reflecting efficient operations and growth (revenues grew ~12.4% CAGR FY23–25 indmoney.com). However, analysts caution on risks: ~52% of sales come from its top 5 clients indmoney.com (over-concentration), geographical dependence on North/Central India, regulatory hurdles and weather impact on farming. Canara Bank Securities notes “customer concentration (69% revenue from top 10 clients) … climatic volatility, and elevated working capital needs” as key risks 6 .
On valuation, the IPO is attractively priced. At ₹100, the issue values Advance Agrolife at ₹642.8 Cr, ~25.1× FY25 EPS indmoney.com – roughly in line with the agrochemical sector (avg ~25×) indmoney.com. Notably, brokerages highlight its relatively strong metrics: BP Equities points out that “at the upper price band, the company is valued at a P/E of 18x based on FY25 earnings, which is cheaper compared to the industry average,” and thus rates the IPO “SUBSCRIBE” livemint.com. Marwadi Shares similarly gives a “Subscribe” call, noting peers trade at higher P/Es (e.g. Dharmaj Crop Guard ~30×, PI Industries ~33×) livemint.com. Canara Bank Securities, calling it a “compelling agrochemical play” on rising demand, also recommends “Subscribe for long-term investment” despite the risks goodreturns.in 7 .
All key timelines align with investor expectations. The issue raised ~₹57.76 Cr from anchor investors on Sept 29 (pre-IPO) moneycontrol.com. Bids closed Oct 3, allotment is expected Oct 6 (or Oct 7 if delayed by the weekend) business-standard.com. Final share credits should hit demat accounts by Oct 7, and listing on the BSE/NSE is tentatively set for Oct 8 business-standard.com. With such demand and analysts’ upbeat guidance, the Advance Agrolife IPO looks poised for a strong debut (echoing the broader IPO boom: India’s IPO pipeline is on track for a record-breaking October business-standard.com, as industry players note huge mutual fund inflows “have whetted investors’ appetite” 8 ).
Sources: Official IPO filings and live data economictimes.indiatimes.com business-standard.com; stock market news reports and expert commentary moneycontrol.com livemint.com goodreturns.in business-standard.com (GMP data from InvestorGain; broker research; Business Standard, Moneycontrol, Livemint, GoodReturns).
