Advance Agrolife IPO Sees Heavy Demand; SEBI Analyst Calls It A Strong ‘Apply’

Advance Agrolife Limited’s initial public offering opened on Tuesday and will close on Friday. The agrochemical maker aims to raise ₹192.68 crore through a fresh equity issue. 

The shares are set to list on both the BSE and NSE, with a price band of ₹95–₹100 per share.

The IPO's grey market premium (GMP) stood at ₹15 on Friday, showing steady demand ahead of closing. By 11:45 a.m. on Day 3, the issue had been subscribed 8.26 times, with strong interest across categories — 5.40x in the retail segment, 21.20x from non-institutional investors, and 3.56x from qualified institutional buyers.

Company Profile

Founded in 2002, Advance Agrolife Limited manufactures aand distributes a wide range of agrochemical and crop protection products, including insecticides, herbicides, fungicides, fertilizers, plant growth regulators, and technical-grade inputs.

The company caters to farmers, agro-based industries, and corporates through a B2B model and operates across 19 Indian states and 3 union territories. It also exports to several international markets such as the UAE, Bangladesh, and China.

With three manufacturing facilities in Jaipur, Rajasthan, the company has built an integrated setup that supports large-scale production and cost efficiency.

Analyst View

SEBI-registered analyst Aditya Hujband has rated the IPO as an ‘Apply’, highlighting Advance Agrolife’s strong product mix, wide domestic reach, and growing export presence.

He said the company’s advantages of having in-house R&D, backward integration and being compliant to international quality standards have helped it build a strong foundation for growth. 

Hujband said the business has a demand throughout the year, spanning both the Kharif and Rabi crop seasons, and a consistent customer base due to its long-standing B2B relationships.

However, he added that seasonal variations, regulatory challenges, and competition from international agrochemical firms remain as potential risk factors. Other risks cited are foreign exchange fluctuations, high working capital requirements, and exposure to the export market.

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