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Below are Quote on Indian Pesticides Limited IPO Grey Market premium jumps to ₹90-₹100 by Mr. Yash Gupta Equity Research Associate, Angel Broking Ltd   

Indian Pesticides Limited IPO Grey Market premium jumps to ₹90-₹100

Indian Pesticides Limited has announced its Price band of ₹290 - ₹296 on 18^th June 2021 and after the announcement of price band, its Grey market premium has jumped to the levels of ₹90-₹100 and is experiencing volatility. We have seen the same volatility in last week's IPOs too with premiums stabilising at the end of the IPOs. We expect that the grey market premium for Indian Pesticides Limited will be volatile for the next 2-3 days and recommend that investors should focus more on the fundamentals of the IPO. The IPO has been priced at the PE levels of 24.5 times at a higher band of the price range of ₹296. Company is one of the leading agrochemicals in India with two business verticals. Overall the company has a manufacturing capacity of 19500 Mt for technical and 6500 Mt for formulation. Company earns 56% of revenue from the export market and 44% of revenue from the domestic market. Company overall fundamentals look very attractive. We have a positive outlook for the Indian Pesticides Limited IPO.

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