Dharmaj Crop Guard IPO Gets Overwhelming Response From Investors IPO Subscribed 35.49 Times

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Dharmaj Crop Guard IPO Gets Overwhelming Response From Investors IPO Subscribed 35.49 Times

Dharmaj Crop Guard IPO: Dharmaj Crop Guard’s IPO (Dharmaj Crop Guard IPO) has received a great response from the investors. According to the data available on BSE, the IPO of Dharmaj Crop Guard has been oversubscribed a total of 35.49 times till the last day of closure of the IPO. The company had brought IPO to raise Rs 251 crore from the market. The stock is trading at a premium of Rs 52 in the gray market.

Great response to IPO
The reserve quota for institutional investors has been subscribed 48.21 times. The quota of non-institutional investors has been subscribed 52.29 times, while the quota of retail investors has been subscribed 21.53 times. While the reserved category for the company’s employees has been subscribed 7.48 times. That is, a total of 80,12,990 shares were issued for application in the IPO and bids for 28,43,58,360 shares have come. In the IPO, 50 percent shares will be allotted to institutional investors, 15 percent to non-institutional investors and 35 percent to retail investors.

The price band was Rs 216-237.
The IPO of Dharmaj Crop Guard opened on November 28 and today was the last day for investors to apply till November 30, 2022. The company had fixed the price band of IPO from 216 to 237 rupees. In the Rs 251 crore IPO, Rs 216 crore has been raised as a fresh issue, while the promoters have sold shares worth Rs 35.15 crore under the offer for sale. Investors could apply for one lot of 60 shares.

Agrochemicals Sector Company
Dharmaj Crop Guard was established in the year 2015, which is a company in the agrochemicals sector. This company is engaged in manufacturing, distribution and marketing of different types of agrochemicals formulations. The company’s shares will be listed on BSE and NSE. Elara capital and Monarch Networth capital are the book running managers of the IPO.

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