Dharmaj Crop Guard IPO subscribed 1.41 times on Day 1

28 Nov 2022 , 03:40 PM

The initial public offer of Dharmaj Crop IPO opened on Monday, November 28 for subscription. The IPO consist                fresh issue of equity shares of worth Rs 216 crore and an offer for sale of 14.83 lakh equity share. The issue price band is fixed at Rs 216-237 per share and one can subscribe the IPO in a lot size of 60 shares.

The details of day 1 of subscription till 3.30 PM are provided in the table below:

Dharmaj Crop Guard Ltd IPO subscrition live status (3.30 PM on 28-11-2022)

Dharmaj Crop Guard Ltd	No. Of shares reserved	No. Of shares bid for	No. Of times bid
Qualified Institutional Buyers (QIBs)	22,43,990	7,67,700	0.34
NIIs	17,14,200	12,13,500	0.71
RIIs	39,99,800	70,90,440	1.77
Employees	55,000	45,660	0.83
Total	80,12,990	91,17,300	1.14

(Source: BSE Cumulative Demand Schedule)

Incorporated in the year 2015, Dharmaj Crop is an agrochemical company. Dharmaj posted total revenues of Rs 221.17 crore for 4 months ended July 2022 and PAT of Rs 18.36 crore for the same period. During FY22, the total revenues increased by 30% to 396.29 crore from Rs 303.57 crore in FY21.

The debt to equity ratio of the company is 0.50x as on 31st March 2022.