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Insecticides India’s promoters to offload stake of about 20%

20 Jul 2013 Evaluate

Insecticides India’s promoters are planning to offload about 20% stake in the company. At present, the promoters hold 74.69 per cent stake in the company, while foreign institutional investors (FIIs) and domestic institutional investors (DIIs) hold 6.2 and 5.33 per cent respectively, while the remaining stake is held by other shareholders.

Meanwhile, the company achieved Rs 650 crore turnover last year and aims to grow at 33 per cent this year, driven by new products.

Recently, the company entered into a joint venture with Japan-based Otsuka AgriTechno to set up a research and development centre in Rajasthan with an initial capex of around Rs 50 crore, to be made operational by the end of this year.

Insecticides India’s leading agro-chemical and pesticides manufacturer. It has entered into technical collaboration with global giants AMVAC, USA for THIMET, which is India's most popular generic pesticide. It has production units in Rajasthan and Jammu & Kashmir.

 

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