Dharmaj Crop Guard IPO share allotment expected today; here is how to check status online

IPO Allotment

Agrochemical manufacturer Dharmaj Crop Guard is on December 5 expected to announce the share allotment for its initial public offering (IPO) which got a good response from investors in the previous week.

The Rs 251-crore initial public offering, which opened for bidding from November 28 to 30, was subscribed 35.49 times. The portion set aside for qualified institutional buyers, high networth individuals, and retail investors was subscribed 48.21 times, 52.29 times, and 21.53 times, respectively.

Investors have two options to check their share allotment status.

The first option is the portal of IPO registrar, here is how it works:

a) Select the company name as Dharmaj Crop Guard Limited-IPO in the dropdown menu

b) Select and enter either the permanent account number (PAN)  or the application number, or the DP Client ID

c) Click on the search button

The other option is the BSE website

a) Select the issue type as equity and the issue name Dharmaj Crop Guard Ltd

b) Enter either the application number or PAN

c) Check box (I'm not a robot) and click on the search button to know the allotment status

Refunds will be credited to the bank accounts of unsuccessful investors by December 6 and eligible investors will get their shares in their demat accounts the same day.

The agrochemical company will make its debut on the BSE and NSE on December 8 in the 32nd listing on the mainboard in the current calendar year.

Dharmaj Crop Guard manufactures a range of agrochemicals such as insecticides, fungicides, herbicides, plant-growth regulators, micro fertilisers and antibiotics and distributes them to B2C and B2B customers.

It also exports products to more than 66 customers across 25 countries in Latin America, East Africa, the Middle East and the Far East.

Dharmaj Crop shares were trading at more than 20 percent premium in the grey market, an unofficial platform, over its expected final issue price of Rs 237 per share, analysts said. Investors look at the grey market premium to know the likely listing price of an IPO.

The grey market premium seems to be taking into account the company's strong financial performance, reasonable valuations, strong branded products and stable relationship with institutional customers, analysts said.