Bookbuilding IPO | ₹251 Cr | Listed at BSE, NSE | Mon, Nov 28, 2022 - Wed, Nov 30, 2022
Dharmaj Crop Guard IPO is a book build issue of ₹251.09 crores. The issue is a combination of fresh issue of 0.91 crore shares aggregating to ₹215.95 crores and offer for sale of 0.15 crore shares aggregating to ₹35.14 crores.
Dharmaj Crop Guard IPO bidding started from Nov 28, 2022 and ended on Nov 30, 2022. The allotment for Dharmaj Crop Guard IPO was finalized on Dec 5, 2022. The shares got listed on BSE, NSE on Dec 8, 2022.
Dharmaj Crop Guard IPO price band is set at ₹237 per share. The lot size for an application is 60. The minimum amount of investment required by an retail is ₹14,220 (60 shares) (based on upper price). The lot size investment for sNII is 15 lots (900 shares), amounting to ₹2,13,300, and for bNII, it is 71 lots (4,260 shares), amounting to ₹10,09,620.
The issue includes a reservation of up to 55,000 shares for employees offered at a discount of ₹10.00 to the issue price.
Elara Capital (India) Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Dharmaj Crop Guard IPO RHP for detailed Information.
IPO Open
Mon, Nov 28, 2022
IPO Close
Wed, Nov 30, 2022
Issue Price
₹237 per share
Market Cap (Pre-IPO)
₹801.00 Cr
| IPO Date | 28 to 30 Nov, 2022 |
| Listed on | Thu, Dec 8, 2022 |
| Face Value | ₹10 per share |
| Price Band | ₹216 to ₹237 |
| Issue Price | ₹237 per share |
| Lot Size | 60 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹10.00 |
| Total Issue Size | 1,05,96,924 shares (agg. up to ₹251 Cr) |
| Fresh Issue | 91,13,924 shares (agg. up to ₹216 Cr) |
| Offer for Sale | 14,83,000 shares of ₹10 (agg. up to ₹35 Cr) |
| Share Holding Pre Issue | 2,46,83,372 shares |
| Share Holding Post Issue | 3,37,97,296 shares |
| BSE Script Code / NSE Symbol | 543687 / DHARMAJ |
| ISIN | INE00OQ01016 |
Dharmaj Crop Guard IPO offers total 1,05,96,924 shares. Out of which 52,70,961 (49.74%) allocated to QIB, 21,08,421 (19.90%) allocated to QIB (Ex- Anchor), 15,81,289 (14.92%) allocated to NII 36,89,674 (34.82%) allocated to RII and 31,62,540 (29.84%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 52,70,961 (49.74%) | NA |
| − Anchor Investor Shares Offered | 31,62,540 (29.84%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 21,08,421 (19.90%) | NA |
| NII (HNI) Shares Offered | 15,81,289 (14.92%) | NA |
| − bNII > ₹10L | 10,54,192 (9.95%) | 1,171 |
| − sNII < ₹10L | 5,27,097 (4.97%) | 585 |
| Retail Shares Offered | 36,89,674 (34.82%) | 61,494 |
| Employee Shares Offered | 55,000 (0.52%) | NA |
| Total Shares Offered | 1,05,96,924 (100.00%) |
Investors can bid for a minimum of 60 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 60 | ₹14,220 |
| Retail (Max) | 14 | 840 | ₹1,99,080 |
| S-HNI (Min) | 15 | 900 | ₹2,13,300 |
| S-HNI (Max) | 70 | 4,200 | ₹9,95,400 |
| B-HNI (Min) | 71 | 4,260 | ₹10,09,620 |
Dharmaj Crop Guard IPO raises ₹74.95 crore from anchor investors. Dharmaj Crop Guard IPO Anchor bid date is November 25, 2022.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Nov 25, 2022 |
| Shares Offered | 31,62,540 |
| Anchor Portion (₹ Cr.) | 74.95 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Jan 4, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Mar 5, 2023 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Incorporated in 2015, Dharmaj Crop Guard Limited is an agrochemical company. The company 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.
The company also provides crop protection solutions to the farmer to assist them to maximize productivity and profitability. Dharmaj Crop Guard Limited export products to more than 20 countries in Latin America, East African Countries, the Middle East and Far East Asia.
As of November 30, 2021, Dharmaj Crop Guard Limited had more than 196 institutional products that they sold to more than 600 customers based in India and the international markets. As of November 30, 2021, the company exported its products to more than 60 customers across 20 countries.
The company's manufacturing facility is located in Ahmedabad, Gujarat, India. Dharmaj Crop Guard Limited also has a research and development ("R&D") centre at the manufacturing facility.
The company's branded products are sold in 12 states through a network comprising over 3,700 dealers having access to 8 stock depots in India, as of November 30, 2021.
The revenue from operations for Fiscals 2019, 2020 and 2021 and seven months period ended on October 31, 2021, was Rs 1,393.56 million, Rs 1,982.22 million, Rs 3,024.10 million and Rs 2,272.62 million, respectively.
| Period Ended | 31 Jul 2022 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 | 31 Mar 2019 |
|---|---|---|---|---|---|
| Assets | 305.76 | 219.55 | 128.87 | 92.58 | 47.66 |
| Total Income | 221.17 | 396.29 | 303.57 | 199.17 | 139.95 |
| Profit After Tax | 18.36 | 28.69 | 20.96 | 10.76 | 5.02 |
| NET Worth | 101.17 | 82.82 | 56.14 | 35.22 | 10.46 |
| Reserves and Surplus | 0.00 | 0.00 | 0.00 | 0.00 | |
| Total Borrowing | 51.56 | 36.93 | 26.92 | 20.18 | 20.35 |
| Amount in ₹ Crore | |||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding capital expenditure towards setting up of a manufacturing facility at Saykha, Bharuch, Gujarat | 104.97 |
| 2 | Funding incremental working capital requirements of the Company | 45.00 |
| 3 | Repayment and/or pre-payment, in full and/or part, of certain borrowings of the Company | 10.00 |
| 4 | General corporate purposes | 41.47 |
| KPI | |
|---|---|
| ROE | 34.64 |
| ROCE | 32.87 |
| Debt/Equity | 0.43 |
| RoNW | 34.64 |
| PAT Margin | 7.28% |
| EBITDA Margin | 11.72% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 11.62 | |
| P/E (x) | 14.55 | |
| Promoter Holding | 100% | 68.64% |
| Market Cap | ₹801.00 Cr. |
The Dharmaj Crop Guard IPO is subscribed 35.49 times on November 30, 2022 7:00:00 PM (Day 3). The public issue subscribed 21.53 times in the retail category, 48.21 times in the QIB category, and 52.29 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 48.21 | 22,43,990 | 10,81,90,140 |
| NII | 52.29 | 17,14,200 | 8,96,35,200 |
| bNII (bids above ₹10L) | 52.97 | 11,42,800 | 6,05,34,660 |
| sNII (bids below ₹10L) | 50.93 | 5,71,400 | 2,91,00,540 |
| Retail | 21.53 | 39,99,800 | 8,61,21,360 |
| Employee | 7.48 | 55,000 | 4,11,660 |
| Total | 35.49 | 80,12,990 | 28,43,58,360 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs and advisors | 10.57 |
| 2 | Advertising and marketing expenses | 1.83 |
| 3 | Fees payable to the Registrar to the Offer | 0.28 |
| 4 | Brokerage and selling commission payable to SCSBs, Registered Brokers, RTAs and CDPs, as applicable(1) | 0.36 |
| 5 | Processing fees to the SCSBs and to the Sponsor Bank for ASBA Forms procured by Registered Brokers, RTAs or CDPs (2)(3)(4)(5)(6) | 0.31 |
| 6 | Printing and distribution of issue stationery | 0.81 |
| 7 | Fees to regulators, including stock exchanges | 1.70 |
| 8 | Others | 1.00 |
| 9 | a) Fees payable to auditors and other professional agencies; | |
| 10 | b) Fees payable to legal counsel; and | |
| 11 | c) Miscellaneous. |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹237.00 | ₹237.00 |
| Open | ₹266.00 | ₹266.05 |
| Low | ₹264.10 | ₹264.30 |
| High | ₹278.90 | ₹279.00 |
| Last Trade | ₹266.40 | ₹266.30 |
Lead Manager Reports
Dharmaj Crop Guard IPO is a main-board IPO of 1,05,96,924 equity shares of the face value of ₹10 aggregating up to ₹251 Crores. The issue is priced at ₹237 per share. The minimum order quantity is 60.
The IPO opens on Mon, Nov 28, 2022, and closes on Wed, Nov 30, 2022.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Dharmaj Crop Guard IPO using UPI as a payment gateway. Zerodha customers can apply in Dharmaj Crop Guard IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Dharmaj Crop Guard IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Dharmaj Crop Guard IPO opens on Mon, Nov 28, 2022 and closes on Wed, Nov 30, 2022.
Dharmaj Crop Guard IPO lot size is 60, and the minimum amount required for application is ₹14,220.
You can apply in Dharmaj Crop Guard IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Dharmaj Crop Guard IPO will be done on Monday, December 5, 2022, and the allotted shares will be credited to your demat account by Tue, Dec 6, 2022. Check the Dharmaj Crop Guard IPO allotment status.
The Dharmaj Crop Guard IPO listing date is on Thu, Dec 8, 2022.
