Dharmaj Crop Guard IPO Day 1 subscription status

28 Nov 2022 , 11:44 AM

Dharmaj Crop Guard IPO is launched today and will conclude on November 30, 2022. The price band of the initial public offer is fixed at Rs 216-237 per share. One can subscribe for the IPO in a lot size of 60 shares and its multiples. 50% of the offer is reserved for qualified institutional buyers, 15% for non-institutional investors and the remaining 35% for retail investors.

The details of day 1 of subscription till 11.30 AM are provided in the table below:

Dharmaj Crop Guard Ltd IPO subscrition live status (11.30 AM on 28-11-2022)

Dharmaj Crop Guard Ltd	No. Of shares reserved	No. Of shares bid for	No. Of times bid
Qualified Institutional Buyers (QIBs)	22,43,990	900	0.00
NIIs	17,14,200	3,82,080	0.22
RIIs	39,99,800	27,14,520	0.68
Employees	55,000	13,860	0.25
Total	80,12,990	31,11,360	0.39

(Source: BSE Cumulative Demand Schedule)

Dharmaj Crop is a Gujarat-based company. It is primarily engaged in the business of manufacturing, distribution and marketing of a wide range of agrochemical formulations such as insecticides, fungicides, herbicides, plant growth regulators, micro fertilisers and antibiotics to B2C and B2B customers. The company aims to use the net proceeds of IPO in funding capital expenditure towards setting up of a manufacturing facility at Saykha, Bharuch, Gujarat; funding incremental working capital requirements of the company; repayment and/or pre-payment, in full and/or part, of certain borrowings of the company, and general corporate purposes.

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