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Dharmaj Crop Guard IPO: Offer subscribed 35.49 times, retail portion booked 21.53 times on final day

The agrochemical formulations manufacturer and distributor is looking to raise Rs 251.15 crore through the IPO at a price band of Rs 216-237

November 30, 2022 / 08:51 PM IST
Dharmaj Crop Guard IPO

Dharmaj Crop Guard IPO

 
 
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Agrochemical company Dharmaj Crop Guard’s initial public offering was subscribed 35.49 times on November 30, the final day of bidding, with investors sending in bids for 28.43 crore shares against an offer size of 80.12 lakh.

The offer size was reduced to 80.12 lakh shares from 1.05 crore shares after the Rs 75 crore was raised by the company through the anchor book on November 25.

Retail investors bought shares 21.53 times the allotted quota and employees bid 7.48 times the portion set aside for them in the offer.

The company reserved 55,000 shares for its employees, who would get them at a discount of Rs 10 a share to the final offer price.