Oman India Fertiliser Co. surged 18% on its Muscat debut after the company sold 261 million Omani rials ($678 million) in the largest initial public offering of the year. The jump reflects strong demand from institutional investors seeking exposure to the region’s growing agricultural sector.

The offering values the firm at roughly $2.7 billion, giving it a market cap that eclipses many peers in the fertilizer industry. The capital raised will fund expansion of production capacity and a planned shift toward higher‑yield fertiliser blends, positioning the company to capture rising demand from Indian and Gulf markets.

For the Muscat exchange, the IPO injects fresh liquidity and signals confidence in Oman’s capital markets. Analysts view the 18% first‑day gain as a benchmark for other commodity‑related listings, potentially raising the profile of the sector among international investors.

Investors should weigh the company’s growth potential against commodity price volatility. The fresh capital, however, gives the firm a competitive edge to scale operations, making it a notable play in the regional agribusiness landscape.