Dharmaj Chemicals Crop IPO to open on 28 November; all you need to know about price, other details

Agrochemical firm Dharmaj Crop Guard will launch its Initial Public Offering (IPO) later this month. The public issue will open for subscription on 28 November and end on 30 November. Dharmaj Crop Guard has set its price brand at Rs 216-237 a share. On 25 November, the booking will open for anchor investors. The Dharmaj Crop Guard IPO is worth Rs 251 crore. Qualified institutional investors can bid for 50 percent of the issue, while 15 percent has been reserved for non-institutional investors, and the remaining 35 percent for retail bidders. This is going to be the ninth public issue to be floated in November. Around Rs 9,500 crore worth of IPOs have been closed this month so far. The IPO consists of a fresh issue of Rs 216 crore and an offer-for-sale (OFS) of up to 14.83 lakh equity shares by existing shareholders. The proceeds of the IPO are going to be utilised for repayment of the debt, fund working capital, and general corporate purposes. The book-running lead managers to the issue are Monarch Networth Capital Limited and Elara Capital (India) Private Limited. The registrar of the Dharmaj Crop Guard initial share sale is Link Intime India Private Ltd. Dharmaj Crop Guard deals with manufacturing, marketing, and distribution of a wide range of agrochemical formulations like fungicides, herbicides, insecticides, plant growth regulator, micro fertilisers and antibiotics to ‘business to business (B2B) and ‘business to consumer (B2C) customers. The firm also offers solutions regarding crop protection to farmers for helping them increase profits and productivity. The products of the company are exported to more than 25 countries across East Africa, Middle East, Latin America, and East Asia. The firm’s revenue from operations for fiscal years 2020, 2021, and the seven-month period ended 31 October 2021 stood at Rs 1,982.22, Rs 3,024.10 million and Rs 2,272.62 million, respectively. At Rs 28.69 crore, Dharmaj Crop Guard reported a growth of 37 per cent in profit in the year ended March 2022. At Rs 394.2 crore, the company saw a 30 per cent rise in revenue against the previous year. The profit for the first quarter of FY23 amounted to Rs 18.4 crore on revenue of Rs 220.9 crore. Read all the Latest News , Trending News , Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook , Twitter and Instagram .

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