The initial public offering (IPO) of Dharmaj Crop Guard, the agrochemical company, received an encouraging response from the market participants as the overall issue was subscribed 35.49 times. The portion set aside for qualified institutional buyers (QIBs) and high net worth individuals (HNIs) was subscribed 48.21 times and 52.29 times, respectively.
Now, investors keenly await share allotment and listing of shares.
The company will announce the IPO share allotment by December 5, the third working day after the closing of the public issue. The offer closed on November 30 after opening for subscription on November 28.
Investors can check their share allotment status either on the BSE website or the portal of the IPO registrar, by following just three easy steps.
1) Select 'issue type - Equity', and 'issue name - Dharmaj Crop Guard Ltd'
2) Enter either 'application number' or 'PAN number'
3) Check the box (I'm not a robot), and finally click on the 'search' button.
1) Select the company name 'Dharmaj Crop Guard Limited - IPO'
2) Select and accordingly enter either 'PAN number', or 'application number', or 'DP client ID'
3) Finally click on the 'search' button to know the allotment status.
By December 6, unsuccessful investors will get their refunds in bank accounts, as well as equity shares will be credited to the Demat accounts of eligible investors.
Also read: Uniparts India IPO | 10 things to know before subscribing to the issue
Dharmaj Crop Guard will make its debut on the country's leading stock exchanges on December 8.
The company, which is primarily engaged in manufacturing, distributing, and marketing of agrochemical formulations such as insecticides, fungicides, herbicides, plant growth regulators, micro fertilisers and antibiotics to the B2C and B2B customers, launched its Rs 251.15 crore public issue for subscription earlier this week.
The fresh issue proceeds (Rs 216 crore) will be utilised by the company for setting up a manufacturing facility at Saykha in Gujarat, working capital requirements, and repaying debts, besides general corporate purposes. That apart, there was an offer for sale portion of Rs 35.15 crore, which will go to promoters, the selling shareholders.
Retail investors have bid 21.53 times the allotted quota, while employees have also provided good support to the issue, putting in bids 7.48 times the reserved portion.
The price band for the offer was Rs 216-237 per share.
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