Dharmaj IPO lists on bourses at 12% premium

8 Dec 2022 , 10:05 AM

Shares of agrochemical company, Dharmaj Crop Guard listed on BSE at Rs 266.00 and NSE at Rs 266.05 on Thursday, a premium of 12.23% over its offer price Rs 237. The IPO of Rs 251.15 crore issue size of Dharmaj Crop sold in between November 28 to November 30 was subscribed 35.49 times. The shares were sold at the price band of Rs 216 to Rs 237 per share.

The portion reserved for institutional investors was subscribed 48.21 times, while the retail quota was subscribed 21.53 times. The high-net-worth individuals’ portion received bids for 52.29 times the shares reserved for them. The company has also reserved portion for its employees which received bids for 7.48 times against the shares reserved for them.

Dharmaj Crop Guard Limited was incorporated in the year 2015. It 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 the B2C and B2B customers.