Dharmaj Crop Guard IPO subscribed 35.49 times on day 3

30 Nov 2022 , 05:21 PM

Dharmaj Crop’s IPO opened on November 28 and closes on November 30. In the first two days of bidding, the IPO application status of Dharmaj Crop Guard shows that the public offering has been applied for 5.97 times compared to 7.75 times for the retail sector. On day 3, the IPO was subscribed 35. 49 times. The QIB section was subscribed 48.21 times, whereas, NII was subscribed 52.29 times and retail section was subscribed 21.53 times. Further the reserved employee category was subscribed 7.48 times.

Dharmaj Crop Guard is an agrochemical company engaged in manufacturing, distribution and marketing of a wide range of agrochemical products. These products include insecticides, fungicides, herbicides, plant growth regulators, microcodes and antibiotics.

In terms of financial performance, for the last three fiscals, the company reported a turnover/net profit of Rs. 199.17 kr. / Rs 10.76 Cr. (FY20), Rs. 303.57 cr. / Rs 20.96 Cr. (FY21) and Rs. 396.29 cr. / Rs 28.69 cr. (FY22). For the four months of FY23 ended July 31, 2022, it earned a net profit of Rs. 18.36 cr. on a turnover of Rs. 221.17 cr. It thus posted an average CAGR of 41+% in revenue and 63%+ in net profit.