Dharmaj Crop Guard IPO subscribed 5.97 times on day two of offer

PTI | New Delhi | Updated: 29-11-2022 19:10 IST | Created: 29-11-2022 19:10 IST
Dharmaj Crop Guard IPO subscribed 5.97 times on day two of offer
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  • India

The Initial Public Offer (IPO) of Dharmaj Crop Guard was subscribed 5.97 times on the second day of subscription on Tuesday.

The Rs 251.14-crore IPO received bids for 4,78,68,720 shares against 80,12,990 shares on offer, according to an update on the NSE.

The category for non-institutional investors received 8.74 times subscription, while the quota for Retail Individual Investors (RIIs) got subscribed 7.75 times and Qualified Institutional Buyers (QIBs) portion 76 per cent.

The IPO of Dharmaj Crop was fully subscribed on the first day of offer on Monday and had ended the trade with 1.79 times subscription.

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

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

The IPO has a price range of Rs 216-237 a share.

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

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

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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