Active Stocks
Tue Mar 19 2024 10:41:02
  1. Tata Consultancy Services share price
  2. 4,018.30 -3.05%
  1. Tata Steel share price
  2. 148.80 -0.53%
  1. NTPC share price
  2. 312.50 -1.47%
  1. HDFC Bank share price
  2. 1,443.50 -0.19%
  1. ITC share price
  2. 414.05 -0.80%
Business News/ Markets / Ipo/  Dharmaj Crop Guard IPO: GMP rises ahead of subscription opening
BackBack

Dharmaj Crop Guard IPO: GMP rises ahead of subscription opening

Dharmaj Crop Guard IPO consists of fresh issue of equity shares worth up to ₹216 crore and OFS of up to 14.83 lakh equity shares by existing shareholders

Dharmaj Crop IPO opens on Monday (Reuters)Premium
Dharmaj Crop IPO opens on Monday (Reuters)

Agrochemical company Dharmaj Crop Guard's initial share-sale will open for public subscription on November 28 and conclude on November 30. The company has fixed a price band of 216–237 a share for its 251-crore initial public offering (IPO). At the upper end of the price band, the Ahmedabad-based company would fetch 251 crore.

As per market observers, Dharmaj Crop Guard shares are available at a premium (GMP) of 45 in the grey market today, up from 25 in the previous session. The shares of the company are expected to list on the stock exchanges BSE and NSE on Thursday, December 8, 2022.

Dharmaj Crop Guard IPO consists of fresh issue of equity shares worth up to 216 crore and an offer-for-sale (OFS) of up to 14.83 lakh equity shares by existing shareholders.

Proceeds from the issue will be used for funding capital expenditure towards setting up of a manufacturing facility at Saykha Bharuch in Gujarat, funding incremental working capital requirements, payment of debt and general corporate purposes.

The company is engaged in the business of manufacturing, distributing, and marketing of a wide range of agrochemical formulations such as insecticides, fungicides, herbicides, plant growth regulator, micro fertilizers and antibiotic to the business-to-consumer (B2C) and Business-to-business (B2B) customers. 

The company also provides crop protection solutions to the farmer to assist them to maximize productivity and profitability. It exports its products to more than 25 countries across Latin America, East African Countries, Middle East and Far East Asia. The revenue from operations for Fiscals 2020 and 2021 and seven months period ended on October 31, 2021, was 1,982.22 million, 3,024.10 million and 2,272.62 million, respectively.

Elara Capital (India) Private Limited and Monarch Networth Capital Limited are the book running lead managers to the issue. Link Intime India Private Ltd is the registrar of the initial share sale.

 

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 24 Nov 2022, 09:20 AM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie