Aristo Bio-Tech IPO opens today, to conclude on January 19

The Initial Public Offering (IPO) of Aristo Bio-Tech and Lifescience Limited opens today, January 16. By issuing 18,12,800 shares at a price of Rs 72 per share, which would be sold in lots of 1,600 shares, the company anticipates raising Rs 1,305.22 lakhs of issue size.

A total of 8,60,800 shares, or 50 per cent of the net issue, are held by HNIs, whereas retail investors make up the remaining 50 per cent or 8,60,800 shares.

The IPO is going to conclude on January 19 and is expected to list on the National Stock Exchange (NSE) Emerge platform on January 27.

Lead manager

The issue’s lead manager is Beeline Capital Advisors Private Limited, a merchant banking firm in Gujarat. The offer’s registrar is Link Intime Financial Services Private Limited.

Out of the total money raised in the issue, Rs 935.22 lakh will be utilised for fulfilling the company’s working capital needs. Rs 250 lakh is going to be used for general corporate purposes, and Rs 120 lakh will be used for covering issue charges.

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Aristo Bio-Tech and Lifescience Limited Chairman and Managing Director Narendra Singh Barhat was quoted by media reports as saying, “IPO funding will help us in growing our company to next stage as we have enough capacity in our existing setup and good team what we need is working capital to fuel our growth and IPO funding will provide that.”

Crop protection firm

Aristo Bio-Tech is a crop protection firm, which offers manufacturing, formulation, supply and packaging job work services for various pesticides. It offers its services for insecticides, herbicides, fungicides, plant growth regulators and a wide range of other agrochemicals in India and for export.

The corporation also offers contract manufacturing, job work and toll manufacturing services and products to various reputed Indian and multinational crop protection companies.