Ultimate magazine theme for WordPress.

Dharmaj Crop Guard IPO: GMP continues to rise ahead of Monday’s issue open

Amid IPO season, agrochemical company Dharmaj Crop Guard’s three-day IPO will open for public subscription on Monday, November 28, 2022 and close on Wednesday, November 30. The price range was set in the range of 216-237 per share.

Dharmaj Crop Guard’s IPO will consist of a reissue of shares worth up to 216 crore and an offer to sell (OFS) of up to 14.83 lakh shares by the existing shareholders. At the higher end of the price range, the Ahmedabad-based company would pick up 251 crores.

According to market watchers, Dharmaj Crop Guard shares are available at a premium (GMP) of 58 on the gray market today, ex 45 in the previous session. The company’s shares are expected to list on the BSE and NSE stock exchanges on Thursday 8th December 2022.

Established in 2015, Dharmaj Crop Guard Limited is an agrochemical company. The Company is engaged in the manufacture, distribution and marketing of a wide range of agrochemical formulations such as insecticides, fungicides, herbicides, plant growth regulators, micro-fertilizers and antibiotics for B2C and B2B customers.

As of July 2022, Dharmaj Crop Guard Limited had more than 219 institutional products which they sold to more than 600 customers in India and the international markets and exported their products to more than 60 customers in 25 countries. Operating income for the fiscal years 2020 and 2021 and the seven month period ended October 31, 2021 was 1.982 million, 3.024 million and 2.272 million.

The Company’s manufacturing facility is located in Ahmedabad, Gujarat, India. Dharmaj Crop Guard Limited also has a research and development (R&D) center in the manufacturing facility. The company’s branded products are sold in 17 states through a network of over 4,200 dealers who (as of July 2022) have access to 16 warehouses in India.

The Company intends to use the proceeds from the re-issuance to fund capital expenditures to establish a manufacturing facility in Saykha, Bharuch, Gujarat; Funding of the company’s incremental working capital needs; full and/or partial repayment and/or prepayment of certain Company loans and general corporate purposes.

Know your inner investor
Do you have nerves of steel or are you losing sleep over your investments? Let’s define your investment approach.

Take the test Get all the business news, market news, breaking news and latest news updates on Live Mint. Download the Mint News app for daily market updates. More less

Comments are closed.

%d bloggers like this: