If you want to buy Stocks or MF in the stock market or want to take an IPO, then it is necessary to have your Demat account for this. Without this account you cannot invest in the stock market. Under this rule of the share market regulator, shares can be bought electronically only. Meanwhile, it is also reported that the IPO of Uttar Pradesh’s leading agri chemical firm India Pesticide is hitting the market on Wednesday i.e. June 23. This IPO is open for general investors till June 25. For the Rs 800 crore IPO, the company has fixed a price band of Rs 290-296 per share.
You can open an account with a brokerage house. Banks also offer Demat account facility like brokerage houses. This account is linked to your bank account. When IPO comes in the market, it can be bought through Demat Khata. With this you can buy stocks, IPOs, mutual funds and even gold in MCX.
where to open account
The country’s largest bank State Bank of India also offers the facility of demat account. In this, the customer gets a variety of facilities. When the investor buys shares on the exchange, your shares are credited to the demat account on payment. When you sell these shares, that number of shares goes down. Demat account can be opened through SBI YONO app.
Special Features of India Pesticide
According to India Pesticide, anchor investors have placed bids for the shares on June 22. Under the Rs 800 crore IPO of India Pesticide, new shares worth Rs 100 crore are being issued. The promoter Anand Swaroop Agarwal is making a sale offer of Rs 281.4 crore. Other shareholders are offering shares worth Rs 418.6 crore. The company has plants in Lucknow and Hardoi. The company has 22 agro chemical technical registrations and licenses.
India Pesticide Plan
The lead managers of the IPO are Axis Capital and JM Financials. The proceeds from the IPO will be used for the expansion of the business. The company said the proceeds of the new issue will be used for working capital requirements and general corporate business.
India Pesticide is the country’s leading agrochemical company. The manufacturing technology capacity of the company is 19500 Mt. While there is a capacity of 6500 Mt for formulations. According to brokerage houses, the fundamentals of the company are very strong. Taking his outlook positive.
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