Dharmaj Crop Guard IPO subscribed 1.79 times on Day 1

The Initial Public Offer (IPO) of Dharmaj Crop Guard was fully subscribed on the first day of offer and ended the trade with 1.79 times subscription on Monday.

The Rs 251.14-crore IPO received bids for 1,43,79,060 shares against 80,12,990 shares on offer, according to NSE data.

The category for Retail Individual Investors (RIIs) received 2.60 times subscription, non-institutional investors portion was subscribed 1.80 times and Qualified Institutional Buyers (QIBs) 35 per cent.

The IPO has a fresh issue of up to Rs 216 crore and an offer for sale of 14,83,000 equity shares.

Price range for the offer is at Rs 216-237 a share.

Elara Capital (India) and Monarch Networth Capital are the managers to the offer.