• Dharmaj Crop Guard IPO had fresh issue of up to ₹216 cr and OFS of 14,83,000 equity shares
The Initial Public Offer (IPO) of Dharmaj Crop Guard was subscribed 35.49 times on Wednesday, November 30, 2022, the last day of subscription. The ₹251 crore issue received bids for 28,43,51,820 shares against the offer of 80,12,990 shares. offer.
The category for non-institutional investors was subscribed 52.29 times, the Qualified Institutional Buyers (QIBs) portion was subscribed 48.21 times and the Retail Individual Investors (RIIs) portion was subscribed 21.53 times.
The finalization of the basis of share allotment is expected to take place next week on Monday, December 5, 2022 and the shares, if allotted, will be credited to the demat account of the bidders on Wednesday, December 7. The Registrar for this IPO is LINK INTIME INDIA PRIVATE LIMITED, therefore the allotment application can be viewed on the Registrar's website here or BSE website here.
According to market observers, shares of Dharmaj Crop Guard are available at a premium (GMP) of ₹50 in the gray market today. The shares of the company are expected to get listed on the stock exchanges BSE and NSE next week on Thursday, December 8, 2022.
The Dharmaj Crop Guard IPO had a fresh issue of up to ₹216 crore and an offer for sale of 14,83,000 equity shares. Its price range was ₹216-237 per share. The company raised ₹74.95 crore from anchor investors including Elara India Opportunities Fund, Rajasthan Global Securities and Resonance Opportunities Fund ahead of its initial share sale.
The company aims to use the proceeds from the latest issue to promote Saykha, Bharuch, Gujarat; financing the company's incremental working capital requirements; Repayment and/or prepayment, in full and/or in part, of certain borrowings of the Company, and for general corporate purposes.
Incorporated in 2015, Dharmaj Crop Guard Limited is an Agrochemical company. The company is engaged in the business of manufacturing, distributing and marketing a wide range of Agrochemical formulations such as Insecticides, Fungicides, Herbicides, Plant Growth Regulators, Micro Fertilizers and Antibiotics to B2C and B2B clients.
The company's manufacturing facility is located in Ahmedabad, Gujarat, India. Dharmaj Crop Guard Limited also has a Research and Development (R&D) center at its manufacturing facility. The company's branded products are sold across 17 states through a network of over 4,200 dealers reaching 16 stock depots in India by July 2022.
No comments:
Post a Comment