NEWS

Dharmaj Crop Guard Limited IPO : Company Info. and More

Dharmaj Crop Guard Limited initiated its business operations in 2015. The company is working in the agrochemical segment. It manufactures, distributes and markets a wide range of agrochemical products. The company is directly involved in the export business as well. It has been exporting its products to more than 20 countries. The company currently has 196 products and sells the same to 600 customers and above. Dharmaj Crop Guard Limited exports its products to 60 customers in 20 countries. It has an R&D centre at Gujarat. Domestically the company sells the products through 3700 dealers and has 8 stock depots for distribution and storage.

IPO DETAILS

Dharmaj Crop Guard Limited IPO is set to launch on 28 Nov., 2022. The subscription timeline extends till 30 Nov., 2022. The size for the IPO is 251.15 Crore Rs.. Shares issued through Offer For Sale are worth 35.15 Crore Rs. Shares issued through Fresh Issue mode are worth Rs 216 Crore. The lot size is 60 shares and the price range is 237 Rs. – 260 Rs./ share. The company is going to get listed at both the exchanges NSE and BSE. The face value per share is Rs. 10 and this is a book built issue. The registrar for the company is Link Intime India Private Limited.

TABULAR REPRESENTATION OF IPO DETAILS

IPO OPENING DATE	28 Nov., 2022
CLOSING DATE FOR IPO	30 Nov., 2022
ISSUE TYPE	Book Built Issue
Face Value per share	10 Rs. per share
IPO price band	216 Rs. – 237 Rs.
LOT SIZE	60 shares
MINIMUM ORDER QUANTITY	60 shares
ISSUE SIZE	251.15 Crore Rs.
OFFER FOR SALE	35.15 Crore Rs.
FRESH ISSUE	216 Crore Rs.
LISTING AT	NSE, BSE
LISTING DATE	8 Dec., 2022

IMPORTANT DATES

IPO OPENING DATE	28 Nov., 2022
CLOSING DATE FOR IPO	30 Nov., 2022
IPO ALLOTMENT DATE	5 Dec., 2022
REFUNDS	6 Dec., 2022
DEMAT A/C CREDITED ON	6 Dec., 2022
IPO LISTING DATE	8 Dec., 2022

Dharmaj Crop Guard Limited IPO begins for subscription from 28 Nov., 2022. The IPO subscription would continue till 30 Nov, 2022. The allotment status for the shareholders who applied would come on 5 Dec., 2022. The refunds for the ones who did not get allotment would be initiated on 6 Dec., 2022. The DEMAT accounts of shareholders would be credited on 6 Dec., 2022. The listing of the company would be accompanied on 8 Dec., 2022.

Lead Managers

The lead managers are :

Monarch Networth Capital Limited
Elara Capital India Limited

The minimum lot size for the company is decided at 60 shares. This holding accounts to 14220 Rs.. The maximum lot size is decided at 840 shares. This amounts to 199080 Rs.. Hence the company’s final holdings would be set as :

	Shares	Amount
Minimum	60 shares	14220 Rs.
Maximum	840 shares	199080 Rs.

OBJECTIVES FOR THE IPO

The funds may be used for general corporate purposes.
The funds will be utilised for setting up a manufacturing facility in Gujarat.
The money can be used for repayment of the company’s borrowings.

COMPANY FINANCIALS

Particularly (in Crore Rs.)	2021-22	2020-21	2019-20
ASSETS	220	129	92.5
Revenue	396	304	200
PAT	29	21	11

Dharmaj Crop Guard Limited has an asset base of 220 Crore Rs in 2022. The same was 92.5 Crore Rs in 2020 which increased to 129 Crore Rs in 2021. The company’s revenue has also seen constant growth from 200 Crore Rs in 2020 to 304 Crore Rs in 2021 and 396 Crore Rs in 2022. The profits of the company are ot huge based on the revenue generated by the company. However they are growing every year as well. The profits for 2020 were 11 Crore Rs which increased to 21 Crore Rs in 2021 and 29 Crore Rs in 2022.

PROS

Dharmaj Crop Guard Limited is directly involved in the export business as well. It has been exporting its products to more than 20 countries.
It has an R&D centre at Gujarat. Domestically the company sells the products through 3700 dealers and has 8 stock depots for distribution and storage.