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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 ₹237.00 per share . The lot size for an application is 60. The minimum amount of investment required by an retail is ₹12,960 (60 shares). 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 Date | November 28, 2022 to November 30, 2022 |
| Listing Date | December 8, 2022 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹216 to ₹237 per share |
| Issue Price Final | ₹237 per share |
| Lot Size | 60 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,05,96,924 shares (aggregating up to ₹251.09 Cr) |
| Fresh Issue | 91,13,924 shares (aggregating up to ₹215.95 Cr) |
| Offer for Sale | 14,83,000 shares of ₹10 (aggregating up to ₹35.14 Cr) |
| Employee Discount | ₹10.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 2,46,83,372 shares |
| Share Holding Post Issue | 3,37,97,296 shares |
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, 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 | Maximum 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%) |
| 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 |
Dharmaj Crop Guard IPO raises ₹74.95 crore from anchor investors. Dharmaj Crop Guard IPO Anchor bid date is November 27, 2022. Dharmaj Crop Guard IPO Anchor Investors list
| Bid Date | November 27, 2022 |
| Shares Offered | 31,62,540 |
| Anchor Portion Size (In Cr.) | 74.95 |
| Anchor lock-in period end date for 50% shares (30 Days) | January 4, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | March 5, 2023 |
Dharmaj Crop Guard IPO opens on November 28, 2022, and closes on November 30, 2022.
| IPO Open Date | Mon, Nov 28, 2022 |
| IPO Close Date | Wed, Nov 30, 2022 |
| Tentative Allotment | Mon, Dec 5, 2022 |
| Initiation of Refunds | Tue, Dec 6, 2022 |
| Credit of Shares to Demat | Tue, Dec 6, 2022 |
| Tentative Listing Date | Thu, Dec 8, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Nov 30, 2022 |
Investors can bid for a minimum of 60 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 | Total Assets | Total Revenue | Profit After Tax | Net Worth | Total Borrowing |
|---|---|---|---|---|---|
| 31-Mar-19 | 47.66 | 139.95 | 5.02 | 10.46 | 20.35 |
| 31-Mar-20 | 92.58 | 199.16 | 10.76 | 35.22 | 20.18 |
| 31-Mar-21 | 128.87 | 303.56 | 20.96 | 56.14 | 26.92 |
| 31-Mar-22 | 219.54 | 396.29 | 28.69 | 82.82 | 36.93 |
| 31-Jul-22 | 305.76 | 221.17 | 18.36 | 101.17 | 51.56 |
| Amount in ₹ Crore | |||||
The market capitalization of Dharmaj Crop Guard IPO is ₹801.00 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 14.55 |
The net proceeds of the Fresh Issue are proposed to be utilised in the following manner:
1. Funding capital expenditure towards setting up of a manufacturing facility at Saykha, Bharuch, Gujarat.
2. Funding incremental working capital requirements of the Company.
3. Repayment and/or pre-payment, in full and/or part, of certain borrowings of the Company.
4. General corporate purposes.
[Dilip Davda] DCGL is in the agrochemical segment and has created a niche place with its B2C and B2B model. It has posted steady growth in its top and bottom lines and is poised for bright prospects with more products launch up its sleeves. Currently, this segment is also witnessing fancy in the market. Investors may consider investment for the medium to long-term rewards. Read detail review...
| Listing Date | December 8, 2022 |
| BSE Script Code | 543687 |
| NSE Symbol | DHARMAJ |
| ISIN | INE00OQ01016 |
| Final Issue Price | ₹237 per share |
| BSE Listing Group | B |
Dharmaj Crop Guard Ltd.
Plot No. 408 to 411,
Kerala GIDC Estate, Off NH-8, At: Kerala,
Taluka Bavla, Ahmedabad – 382220
Ahmedabad, Gujarat
Phone: +91-79-29603735
Website: http://www.dharmajcrop.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: dharmaj.crop@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
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 ₹251.09 Crores. The issue is priced at ₹237 per share. The minimum order quantity is 60.
The IPO opens on November 28, 2022, and closes on November 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 November 28, 2022 and closes on November 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 Tuesday, December 6, 2022. Check the Dharmaj Crop Guard IPO allotment status.
The Dharmaj Crop Guard IPO listing date is on Thursday, December 8, 2022.
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