Dharmaj Crop Guard issue subscribed 35.49 times

The initial public offering (IPO) of Dharmaj Crop Guard was subscribed 35.49 times on the last day of subscription on Wednesday. The ₹251.14-crore IPO received bids for 28,43,51,820 shares against 80,12,990 shares on offer, as per data available with the NSE.

The category for non-institutional investors received 52.29 times subscriptions, qualified institutional buyers' (QIBs) portion got subscribed 48.21 times, and retail individual investors (RIIs) 21.53 times.

Dharmaj Crop's IPO had a fresh issue of up to ₹216 crore and an offer for sale of 14,83,000 equity shares. Its price range was ₹216-237 a share.


Dharmaj Crop has raised ₹74.95 crore from anchor investors, including Elara India Opportunities Fund, Rajasthan Global Securities and Resonance Opportunities Fund.

Dharmaj Crop Guard is an agrochemical company engaged in the business of manufacturing, distributing, and marketing a wide range of agro chemicals such as insecticides, fungicides, herbicides, plant growth regulator, micro fertilisers, and antibiotic.