Home / Markets / Ipo /  Dharmaj Crop Guard IPO: What GMP signals after strong response by investors

Dharmaj Crop Guard IPO GMP: In three days bidding from 28th to 30th November 2022, the initial public offering ((IPO) of Dharmaj Crop Guard Limited received strong response from investors. As per the official Dharmaj Crop Guard IPO subscription status, the public issue got subscribed 35.49 times whereas its retail portion got subscribed 21.53 times.

Meanwhile after strong bounce in mid-cap segment and FIIs pumping whopping 9,010 crore in Indian markets on Wednesday session, grey market sentiment in regard to Dharmaj Crop Guard shares has gone further bullish. According to market observers, shares of Dharmaj Crop Guard Ltd are available at a premium of 56 per share in grey market today.

Dharmaj Crop Guard IPO GMP today

Market observers said that Dharmaj Crop Guard IPO grey market premium (GMP) today is 56, which is 4 higher from its yesterday's GMP of 52. They said that rise in GMP can be attributed to two major reasons — mid-cap participation in current stock market rally and FIIs turning net buyers by a huge margin. They said that this rise of 4 might look small but it should not be taken lightly. After mid-cap segment participating in current stock market rally, chances are high about Nifty hitting 19,000 levels in near term. In such case, Dharmaj Crop Guard IPO may have a bulls case listing and grey market is signaling the same.

What this GMP mean

Market observers went on to add that Dharmaj Crop Guard IPO GMP today is 56 that means grey market is expecting that the public issue worth 251.15 crore may list around 293 apiece levels, which is around 25 per cent higher from its price band of 216 to 237 per equity share.

Dharmaj Crop Guard IPO details

After closure of subscription date, all eyes are now fixed on Dharmaj Crop Guard IPO allotment date which is most likely on 5th December 2022. The public issue proposed for listing on both BSE and NSE and expected Dharmaj Crop Guard IPO listing date is 8th December 2022.


Asit Manohar

Chief Content Producer at Live Mint Digital Team
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