Dharmaj Crop Guard IPO: Dharmaj Crop Guard IPO to open on Nov 28; worth band fastened at Rs 216-237

New Delhi: The preliminary public providing (IPO) of Dharmaj Crop Guard will kick off for subscription on Monday, November 28. The corporate will promote its shares within the vary of Rs 216-237 apiece.

The difficulty consists of recent fairness shares value Rs 216 crore and a proposal on the market (OFS) of as much as 14,83,000 fairness shares by the promoters and present shareholders of the corporate.

Manjulaben Rameshbhai Talavia, Muktaben Jamankumar Talavia, Domadia Artiben and Ilaben Jagdishbhai Savaliya are the present buyers collaborating within the OFS.

Traders can place a bid of a minimal of 60 fairness shares and in multiples thereafter. Additionally, the difficulty is open for subscription until Wednesday, November 30. The anchor e-book will open for a day on November 25.

The corporate has reserved 55,000 fairness shares value Rs 1.25 crore for eligible workers of the corporate, who will get a reduction of 5%. On the higher worth band, the corporate is more likely to increase about Rs 251 crore through main sale.

This would be the ninth public concern getting launched in November. Up to now, eight preliminary stake gross sales have efficiently raised about Rs 9,500 crore on this ongoing month.

The corporate will use the web proceeds from the recent concern for establishing a producing facility at Saykha, Gujarat, and incremental working capital necessities. It would additionally repay some money owed through recent concern cash.

Certified institutional buyers will get 50% of the web concern, whereas non-institutional gamers can be allotted 15% of the provide. The remaining 35% portion has been fastened for retail bidders.

Integrated in 2015, Dharmaj Crop Guard is an agrochemical firm, which is engaged within the enterprise of producing, distributing, and advertising and marketing a variety of agrochemical formulations.

The vary of its merchandise embrace pesticides, fungicides, herbicides, plant progress regulators, micro fertilizers and antibiotics to the B2C and B2B prospects. It supplies crop safety options to the farmer.

Dharmaj Crop Guard exports merchandise to greater than 20 nations in Latin America, East African Nations, the Center East and Far East Asia. The corporate’s manufacturing facility is situated in Ahmedabad, Gujarat.

It clocked a 37% progress in revenue at Rs 28.69 crore for the 12 months ended March 2022, with a 30% enhance in income at Rs 394.2 crore in contrast with the earlier 12 months. Revenue for Q1FY23 stood at Rs 18.4 crore whereas the income was at Rs 220.9 crore.

Elara Capital and

are the book-running lead managers to the difficulty, whereas Hyperlink Intime India has been appointed because the registrar to the difficulty.

(Disclaimer: Suggestions, options, views, and opinions given by the specialists are their very own. These don’t signify the views of Financial Instances)