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Today, subscribers can sign up for Dharmaj Crop Guard Ltd.’s 251.15 billion initial public offering. The issue has a price range of 216-237 and closes on November 30.
Retail investors can bid for up to 35% of the IPO, while HNIs can bid for 15%. Qualified institutional buyers will receive 50% of the IPO.
The offer consists of a fresh issue of ₹216 crore and an offer-for-sale of ₹35.15 crore (91.13 lakh shares by promoters Manjulaben Rameshbhai Talavia, Muktaben Jamankumar Talavia, Domadia Artiben and Ilaben Jagdishbhai Savaliya).
The new issue will be used to finance capital expenditures for a manufacturing facility in the Bharuch district at Saykha; financing additional requirements for working capital; repayment and/or prepayment, in whole or in part, of particular borrowings, as well as for general company goals.
A variety of agrochemical formulations, including insecticides, fungicides, herbicides, plant growth regulators, micronutrients, and antibiotics, are manufactured, distributed, and marketed by the company for both consumer and business customers.
Additionally, the company offers farmers solutions for crop protection to assist them in maximizing productivity and profitability. More than twenty nations in Latin America, East Africa, West Asia, and the Far East receive its products for export.
On Friday, the company distributed 31.62 lakh equity shares at a price of 237 per share to three anchor investors—Elara India Opportunities Fund, Rajasthan Global Securities, and Resonance Opportunities Fund—to raise 74.95 crore in advance of the offering.