Dharmaj Crop Guard IPO Opens Today With High GMP

The agrochemical company Dharmaj Crop is going to launch its IPO with ₹251 crore offer. The offer is being sold at the ₹216-237 crore price band.

On November 28, the Dharmaj Crop Guard initial public offering (IPO) launched for subscription. It will end on November 30. The fixed price range for the IPO is Rs. 216-237 per share. 

The Dharmaj Crop Guard IPO consists of a new share offering at Rs 216 crore and a promoter sale of 14.83 lakh shares. Through the sale at the higher price band, the business hopes to raise ₹ 251.15 crore.

Gray market premium (GMP) for Dharmaj Crop Guard shares was ₹55 on Monday, based on those who trade with unlisted stocks. On December 8th, the company’s shares are anticipated to list on the BSE and NSE stock exchanges.

An agricultural chemical company called Dharmaj Crop Guard manufactures, distributes, and markets a variety of pesticide formulations. 

Promoters Manjulaben Rameshbhai Talavia, Muktaben Jamankumar Talavia, Domadia Artiben, and Ilaben Jagdishbhai Savaliya would sell 7.09 lakh shares, 6.56 lakh shares, 87,500 shares, and 30,000 shares, respectively. 

The company mobilized ₹ 74.95 crore through an anchor book on Friday in preparation for the IPO. At a final price of Rs 237 per share, it allocated 31.62 lakh equity shares to anchor investors. 

The company received anchor book investments from three investors: Elara India Opportunities Fund, Rajasthan Global Securities, and Resonance Opportunities Fund.

According to the most recent information, the Dharmaj Crop Guard IPO was seeking a grey market premium (GMP) of Rs 66 per share, indicating possibilities for a successful listing. 

However, given the global deterioration in mood following the rise of Covid cases in China, investors with extremely short investment horizons would also want to examine the pattern in the secondary market.