Dharmaj Crop Guard shares trade at 12 per cent premium

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Dharmaj Crop Guard shares trade at 12 per cent premium

Shares of the agrochemical firm Dharmaj Crop Guard traded at a premium of 12 per cent against the IPO issue price. The company offered its shares in a price band of Rs 216 -- 237 per share. The stock was trading at Rs 266.05, 12.26% higher on the NSE. The market cap of Dharmaj Crop Guard was 899.17 crore. The firm's shares changed hands for a total of 13.38 lakh, which is a turnover of Rs 35.61 crore on the NSE.

The stock was listed at Rs 266, 12.24 per cent higher than the IPO price. The firm's market cap was 899.01 crore. There were 1.56 lakh shares of the firm which changed hands, which is a turnover of Rs 4.13 crore on the BSE.

The last day of the offer was on November 30, 2022 when the share sale of the agrochemical company was subscribed 35.49 times. The issue received bids for 28,43, 51,820 shares against the issue size of 80,12, 990 shares.

The IPO was held from November 28 to November 30.

GMP hints at decent listing gains.

Elara Capital India Private and Monarch Networth Capital were the leading managers to address the issue. The aim of the offer was to incur capital expenditure for setting up a manufacturing facility in Saykha, Bharuch, Gujarat, to fund the incremental working capital requirements of the company, repayment and or pre-payment, in full and or part, of certain borrowings of the company and general corporate purposes.

Dharmaj Crop Guard Limited is an agrochemical company incorporated in 2015. The company is engaged in the business of manufacturing, distributing and marketing a wide range of agrochemical formulations such as insecticides, fungicides, herbicides, plant growth regulators, micro fertilisers and antibiotics to the B 2 C and B 2 B customers.