Indogulf Cropsciences IPO subscribed 17% on Day 1: Check GMP, price band, and other key details

IPO subscribed 17% on Day 1; retail portion at 31%, NIIs at 11%, QIBs yet to bid.

Grey market premium at Rs 10–11, implying ~9% upside over upper band of Rs 111.

Firm posted FY24 revenue of Rs 555.8 crore and PAT of Rs 28.2 crore; ROE at 12.2%.

Proceeds to fund working capital, debt repayment, and set up a new Haryana plant.