- IPO Details: Advance Agrolife’s ₹192.86 Cr public issue (100% fresh) priced at ₹95–100/share (lot size 150) closes Oct 3 Indiatimes Business Standard. Tentative listing on BSE/NSE is Oct 8 Business Standard.
- Subscription: By Oct 3 afternoon the IPO was massively oversubscribed – ~55× overall Livemint (Retail 20.57×, HNI/Non-Institutional 173.78×, QIB 24.97×). Even by mid-morning Day 3 it was ~2.9× Goodreturns.
- Grey Market: Unofficial trades peg Advance Agrolife at ~₹115/share, a ₹15 (15%) premium over the ₹100 cap Business Standard Moneycontrol, implying strong listing gains.
- Company: Jaipur-based Advance Agrolife is an integrated agrochemical maker (insecticides, herbicides, fungicides, growth regulators, micronutrients, bio-fertilisers) Moneycontrol. FY2025 sales ~₹502 Cr, profit ₹25.6 Cr Moneycontrol; RoNW ~29%. Top-5 customers contributed ~52% of revenue, a concentration risk Indmoney.
- Use of Funds: ~₹135 Cr for working capital; remaining for corporate purposes Moneycontrol Business Standard.
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 Indiatimes Goodreturns. 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. 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.) This late rally led to a 9.17× oversubscriptionas of noon Oct 3 Business Standard, up from ~1.87× by Day 2 end Indiatimes.
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 Moneycontrol. That 15% premium matches listing gains seen in similar IPOs. For example, Moneycontrol notes an InvestorGain survey with GMP ₹15 (implying ~₹115 listing) Moneycontrol. Such grey-market premiums often presage strong listing-day performance.
Advance Agrolife itself is a fully integrated agrochemical manufacturer based in Rajasthan Moneycontrol. 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. Management is promoter-driven (Chairman Om Prakash Choudhary and family hold >90% share). The business has strong return ratios (RoNW ~29%) Indmoney, reflecting efficient operations and growth (revenues grew ~12.4% CAGR FY23–25 Indmoney). However, analysts caution on risks: ~52% of sales come from its top 5 clients Indmoney (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 Goodreturns.
On valuation, the IPO is attractively priced. At ₹100, the issue values Advance Agrolife at ₹642.8 Cr, ~25.1× FY25 EPS Indmoney – roughly in line with the agrochemical sector (avg ~25×) Indmoney. 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. Marwadi Shares similarly gives a “Subscribe” call, noting peers trade at higher P/Es (e.g. Dharmaj Crop Guard ~30×, PI Industries ~33×) Livemint. Canara Bank Securities, calling it a “compelling agrochemical play” on rising demand, also recommends “Subscribe for long-term investment” despite the risks Goodreturns Goodreturns.
All key timelines align with investor expectations. The issue raised ~₹57.76 Cr from anchor investors on Sept 29 (pre-IPO) Moneycontrol. Bids closed Oct 3, allotment is expected Oct 6 (or Oct 7 if delayed by the weekend) Business Standard. Final share credits should hit demat accounts by Oct 7, and listing on the BSE/NSE is tentatively set for Oct 8 Business Standard. 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, as industry players note huge mutual fund inflows “have whetted investors’ appetite” Business Standard).
Sources: Official IPO filings and live data Indiatimes Business Standard; stock market news reports and expert commentary Moneycontrol Livemint Goodreturns Business Standard (GMP data from InvestorGain; broker research; Business Standard, Moneycontrol, Livemint, GoodReturns).
