Oman India Fertiliser Company SAOG (under transformation) (“OMIFCO”)

OMIFCO successfully completed bookbuilding and the subscription process for its initial public offering (“IPO” or the “Offering”), setting the final IPO Offer Price at the top end of the announced price range at Bsz 156 per share for all categories of the Offering, and generates gross proceeds of approximately OMR 261mn (equivalent to approximately USD 678mn). The Company will not receive any of the proceeds of the Offering, all of which will be paid to the Selling Shareholders.
Aggregate demand of approximately OMR 4.7bn (equivalent to approximately USD 12.2bn) from local, regional and international investors across Category I and Category II offerings, with books 18.0x oversubscribed at the final IPO Offer.
Highest ever demand generated in any IPO in Sultanate of Oman
Strong interest from local, regional and international institutional investors, generating approximately OMR 4.3bn (equivalent to approximately USD 11.1bn) demand in the Category I offering resulting in subscription levels of more than 27.4x for the Category I tranche. Oman-based institutional investors demand has exceeded 37.3x, and will be allocated 2.6806 % of their order demand. International institutional investor demand has exceeded 17.4x, and will be allocated on a discretionary basis by the Selling Shareholders in consultation with the Joint Global Coordinators.
Over 72,250 individuals subscribed in Category II generating approximately OMR 408mn (equivalent to approximately USD 1.06bn) in demand, resulting in subscription levels of approximately 3.9x. Investors in the Category II offering (small retail) will be allocated 100% of their demand up to 6,500 shares and then approximately 5.618% of their demand above this level. Investors in Category II offering (large retail) will be allocated approximately 17.818% of their demand.
The strong subscription results are a testament of the quality of the OMIFCO’s value proposition centered on strong foundations, resilient performance and its key role in supporting global food supply.
OMIFCO’s shares are expected to commence trading on the Muscat Stock Exchange (“MSX”) on or around 8 July 2026, under the trading Ticker ‘OMIF’ and ISIN OM0000011151.

Sur, Oman, 30 June 2026: Oman India Fertiliser Company SAOG (under transformation), an integrated producer of anhydrous ammonia and granular urea, today announces that following the successful completion of the bookbuilding and public subscription process for its IPO, it has set the final Offer Price at Bzs 156 per share.

The final Offer Price is set at the top end of the price range of Bzs 146 to Bzs 156, reflecting strong demand from local, regional and institutional investors, high quality investor participation and limited price sensitivity in the order book. The IPO generated gross proceeds of approximately OMR 261mn (equivalent to approximately USD 678mn). The Company will not receive any of the proceeds of the Offering, all of which will be paid to the Selling Shareholders.

Aggregate demand for the IPO was approximately OMR 4.7bn (approximately USD 12.2 billion) with approximately OMR 4.3bn (equivalent to approximately USD 11.1bn) from institutional investors under the Category I offer and approximately OMR 408 million (equivalent to approximately USD 1.06bn) from retail investors under the Category II offer.

Sunder Singh Yadav, Chairman of the Board of OMIFCO, noted:

“The successful completion of the bookbuilding process and the strong demand emphasize the confidence investors have in OMIFCO’s journey and long-term value creation, supported by its strong market position and resilient business model. This milestone marks a significant step forward in OMIFCO’s role in supporting long-term economic development in Oman and beyond. We are excited to embark on this next phase as a publicly listed company.”

Dr. Ahmed Al Marhoubi, Chief Executive Officer of OMIFCO, stated:

“For more than two decades, OMIFCO has been built on the dedication of our employees and the trust of our customers, partners, and shareholders. We are excited to welcome investors as they join us on our journey to continue harvesting the future. This strong endorsement from investors in Oman and internationally reflects confidence in our business and marks an important milestone as OMIFCO begins its next chapter as a listed company.”

The Company’s Category I and Category II offerings were subscribed 27.4x and 3.9x, respectively, with significant support and participation by a wide range of high quality local, regional and international, investors orders. Oman-based Investors in the Category I offering will be allocated 2.6806 % of their demand, whilst allocation for international investors will be determined on a discretionary basis. Investors in the Category II offering (small retail) will be allocated 100% of their demand up to 6,500 shares and then approximately 5.618% of their demand above this level. Investors in Category II offering (large retail) will be allocated approximately 17.818% of their demand.

OMIFCO’s existing shareholders, OQ SAOC ("OQ"), Indian Farmers Fertiliser Cooperative Limited ("IFFCO") and Krishak Bharati Cooperative Limited ("KRIBHCO", together with OQ SAOC and IFFCO, the "Selling Shareholders"), offered a total of 1,672,343,750 shares, representing 25% of OMIFCO’s total issues share capital, to investors. Immediately following the Offering, the Selling Shareholders will retain a 75% shareholding in OMIFCO in aggregate.

Upon listing, OMIFCO is expected to have a market capitalisation of approximately OMR 1.04 billion (approximately USD 2.7 billion).

OMIFCO shares are expected to commence trading on the MSX on or around 8 July 2026 under the Ticker “OMIF” and ISIN OM0000011151.

Price Stabilisation

In connection with the Offering, the Company will appoint Ubhar Capital SAOC to act as a price stabilisation manager (the "Stabilisation Manager"), who may, to the extent permitted by applicable law, and for stabilisation purposes, effect stabilising transactions on the MSX with a view to supporting the market price of the Shares at the Offer Price.

The Stabilisation Manager will be appointed for a time period commencing on the Listing Date and ending no later than 30 calendar days thereafter (the "Stabilisation Period") and will report the stabilisation transactions executed during the Stabilisation Period to the Company and the MSX every five Oman business days during the Stabilisation Period, as well as in accordance with applicable regulations.

The Company will transfer OMR 10 million to a designated account of the Stabilisation Manager prior to the Listing Date for the sole purpose of carrying out stabilising transactions. The Stabilisation Manager may, at its discretion and subject to market conditions, use the foregoing amount to purchase Shares in the market at the Offer Price for the purpose of supporting the market price of the Shares, provided that the total number of Shares purchased for stabilisation purposes shall at no time exceed five per cent. of the Company’s issued share capital.

At the end of the Stabilisation Period, the Stabilisation Manager shall transfer to the Company any Shares which have been purchased in the market as a result of the stabilisation transactions, together with any remaining unused portion of the foregoing amount, minus any applicable fees.

None of the Issue Manager, the Joint Global Coordinators, Joint Bookrunners, the Collection Agents (other than Ubhar Capital SAOC in its capacity as Stabilisation Manager) or any of their respective affiliates, nor any of the Issue Manager, the Joint Global Coordinators, Joint Bookrunners, Collection Agents (other than Ubhar Capital SAOC in its capacity as Stabilisation Manager) or their respective affiliates’ directors, officers, employees or agents will have any direct or indirect involvement in, or responsibility or liability for, nor derive any direct or indirect benefit from, the stabilising transactions envisaged hereby, and stabilisation will be carried out exclusively by the Stabilisation Manager.

About OMIFCO

OMIFCO is a joint venture between Oman and India focused on the production of ammonia and urea. Incorporated in 1998, with exports commencing in 2005, the Company operates a two-train ammonia and two-train urea fertiliser manufacturing facility in Oman, with an annual nameplate production capacity of approximately 1.15 million metric tons of ammonia and 1.65 million metric tons of urea. The Company leverages Oman’s abundant natural gas as its primary feedstock and focuses on global markets, including India as a key market for fertilisers. Located within Madayn-Sur, the Company benefits from access to reliable, low-cost feedstock supply, in-house storage facilities for ammonia and urea, a captive power plant, deep-water port facilities, and a captive waste treatment plant supporting its operations. The Company’s natural gas feedstock is supplied by IGC through a natural gas transmission network operated by OQGN.

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