Indo US Bio Tech Ltd

Indo US Bio Tech Ltd

About the Company:

Indo US Bio Tech Ltd is engaged in research plant, breeding products, processing and marketing of high performing open pollinated and hybrid agricultural seed varieties.

Company had started its journey way back in 2004, having a laboratory for seed testing at Junagadh. In laboratory, they used to test the proportion of Enzyme-Linked  Immunosorbent Assay (ELISA) available in the seeds. ELISA tests are primarily used for the detection of proteins in the seeds which helps to fight against the  diseases.

During the tenure of 2004-2011, laboratory for testing seed was mainly in Nagpur, Hyderabad and Gujarat. Company was having laboratory with all modern imported equipments, and an “image in the market was set up like ―if seeds are tested and approved in the Laboratory of Indo Us, its approved/certified seed“.

As a part of backward integration, Company started In-House Research and Development (R&D) unit at Modasa, District – Sabarkantha (Gujarat) for research activities to produce better and different varieties of seeds.

In the year 2014, Company shifted its R&D unit to carry on its research activities at Village – Bardoli Kathi, Taluka – Dehgam, District – Gandhinagar and R&D unit duly recognized by (DSIR).

Company is currently having approval for its existing R&D unit from DSIR (Department of Scientific and Industrial Research Technology Bhavan, New Delhi) granting approval up to March 31, 2019.

At present Company is having collection of around 4460 varieties of germplasm in various crops.Company’s products are being marketed under various brands names like  INDO-US 955, INDO-US 936, INDO-US 927 etc.

Company’s Business Activities:

business activities

Management Team:

  1. Mr. Jagdish Ajudia (Designation: Managing Director)
  2. Mrs. Maltiben Ajudia (Designation: Whole Time Director)
  3. Ms. Priyanka (Designation: Executive Director)


Promoters Average Acquisition Cost:

Name of the Promoter No. of Shares held Average Acquisition Cost (in Rs.)
Mr. Jagdish Ajudia 43,91,520 Rs.4.48


Promoters Stake Pre & Post Issue:

Shareholder Name Pre Issue Stake (%) Post Issue Stake
Mr. Jagdishbhai Devjibhai Ajudia 93.34 65.84
Promoter Group Entities               6.66             4.70
Total 100% 70.54%


Objectives of the Issue:

  • Working Capital Requirement.
  • General Corporate Purpose.
  • Meeting Public Issue Expenses.


Fund Utilization:

Particulars Amount (Rs. in Lakhs/Crores)
Incremental Working Capital 5.04
General Corporate Expenses 1.80
Public Issue Expenses 0.45
Net Proceeds 7.29 cr



Positives for the Company:

Diversified Product Portfolio:

Company’s Product Portfolio includes diversified variety of agriculture seeds namely vegetable seeds, oil seeds, pulses seeds, cereals seeds, spcies seeds used in cultivating all kinds vegetables, pulses, crops like Tomato, Okra, Brinjal, Onion, Bit Root, cucumber, Bottle gourd, groundnut, mustard, Bajra, Wheat, Cumin, Corainder

Wide range of products allows the existing customers to source most of their product requirements from a single vendor and also enables the company to expand the business from existing customers, as well as address a larger base of potential new customers.

Well Equipped Research and Development facility:

Company has a well equipped Research and Development facility to improve quality of the products and to produce high performance of agriculture seeds. The R&D team includes plant breeders, crop protection specialists, agronomists, seed technologists, biotechnologists and physiologists.

Well Established in Domestic as well as Export Market:

Company is catering the customers both in domestic market as well as overseas market.

Currently they are catering the needs of state government and has tie-up with Madhya Pradesh State Agro Industries Development Corporation Limited & the Government of Chhattisgarh through Rate Contract Offer by CG Rajya Beej Evam Krishi Vikas Nigam Limited for supply of agriculture seeds.

Broad base Distribution Network:

Company is having wide distribution network in the state of Gujarat, Maharashtra, Madhya Pradesh, Chattishgarh, Rajasthan etc. They also export to many countries namely USA, Malaysia, Africa etc through direct or Merchant Export.

In addition, they are also having tie up with MP State Agro Industries Development Corporation Limited for supply of agriculture seeds. Company also sells online agriculture seeds through Desta Mart and Amazon.

Collaboration Agreement:

Recently Company is “in process” to enter in to an agreement for marketing of their different seeds with Gujarat Co-operative Marketing Federation, Ahmedabad, the biggest Marketing Federation in Gujarat.


Financials of the Company:

(in Crores) FY 13 FY 14 FY 15 FY 16 FY 17 31st Oct 17
Revenue  14.93 14.85  19.66   19.14  24.57  15.88
Net Profit  0.30 0.26   0.49  0.36 0.65   0.74


Valuation of Peer Group Companies:

Company Name Face Value EPS PE Ratio RoNW NAV
Indo Us Bio-Tech Ltd 10 1.90 26.87 16.70% 11.36
Mangalam Seeds Ltd 10 5.98 18.39 13.27% 42.86
Kaveri Seed Company Ltd 2 11.36 43.43 7.66% 148.29
Nath Bio-Genes Ltd 10 10.17 46.55 11.83% 85.97
Bombay Super Hybrid Seeds Ltd 10 2.48 24.19 18.87% 13.33


IPO Details:

Details Info
Issue Opens on 30th April 2018
Issue Closes on:. 3rd May 2018
Issue Price Rs.51
Face Value Rs.10
Minimum Lot 2000
Minimum Investment Rs.1,02,000
Issue Constitutes 29.46%
Issue Size Rs.7.29 cr
Market Cap Rs.24.75 cr
Listing at BSE SME
Total Equity Shares Offered (Fresh) 14,30,000
Equity Shares Prior to the Issue 34,24,392
Equity Shares after the Issue 48,54,392


Important Dates:

Finalization of Basis of Allotment on or Before 8th May 2018
Initiation of Refunds on or Before 9th May 2018
Credit of Equity Shares: on or Before 10th May 2018
Listing Date: on or Before 11th May 2018


Subscription Details: (Will be Updated)


(Subscription-Category-Wise (no. of times) Till time : 06:00 PM) Shares Offered 30/4 2/5 3/5
HNI  6,78,000 0.26   1.47  19.5 
Retail  6,78,000  0.89  4.94  19.88
Others     74,000  0.00  0.00  0.86
Employee  ———  —-   —-  —-
TOTAL  14,30,000  0.55  3.04  18.72


IPO Valuation Parameters:

Earnings Per Share (EPS) Price To Earnings ratio (PE) Return on Net Worth (RoNW) Net Asset Value (NAV)
1.90 26.87 16.70% 11.36


Markets Guruji Opinion:

IPO View Apply For: Expected listing Gain:
Subscribe Long Term 5%


Check IPO Allotment Status:

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Company Contact Info:
Indo US Bio Tech Ltd
309, Shanti Mall, Satadhar Char Rasta,
Opp. Navrang Tower, Sola Road
Ahmedabad – 380 061, Gujarat
Tel No.: +91 – 79 – 2749 1807


IPO Registrar Info:
1st Floor, Bharat Tin Works Building,
Opp. Vasant Oasis, Makwana Road, Marol,
Andheri (East), Mumbai – 400 059.
Tel: +91 – 22 – 6263 8200


Lead Manager to the Issue:
305, Madhuban Building,
Cochin Street, S.B.S. Road, Fort,
Mumbai – 400 001.
Tel No.: +91 – 22 – 2265 5565;
Investors Email Id: