The three-day Initial Public Offer (IPO) of Dharmaj Crop Guard Limited will launch for public subscription on Monday, November 28, 2022, next week and close on November 30, 2022. The company has fixed price band limits from 216 237 per share. The issue will open for anchor investors on November 25.
According to market observers, Dharmaj Crop Guard shares are available at premium (GMP). 25 in the gray market today. The shares of the company are expected to get listed on the stock exchanges BSE and NSE on Thursday, December 8, 2022.
The public issue of the company consists of new equity shares 216 crore and Offer for Sale (OFS) of 14,83,000 equity shares by the promoters and existing shareholders of the company.
The net proceeds from the fresh issue are to be used to set up a manufacturing facility in Gujarat and to repay some debt as well as augment working capital requirements.
Finalization of Basis of Share Allotment of Dharmaj Crop Guard IPO Expected to be on Monday, December 5, 2022. Link Intime India Private Limited is the Registrar to the Initial Share Sale. Elara Capital and Monarch Networth Capital are the book-running lead managers to the offer.
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 also provides crop protection solutions to assist farmers to maximize productivity and profitability. Dharmaj Crop Guard Limited exports products to more than 20 countries in Latin America, East African countries, Middle East and Far East Asia.
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