Dharmaj Crop Guard Ltd IPO
Dharmaj Crop Guard Ltd., an Ahmedabad-based agrochemical firm, has filed preliminary documents with SEBI to raise Rs.300 crores. The offering includes a fresh issue of equity shares with a face value of Rs.10 apiece worth up to Rs.216 crores and an offer-for-sale (OFS) of up to 14.83 lakh equity shares by existing shareholders.
Price Band | ₹216 - ₹237 Per Share |
Lot Issue Size | 60 Shares |
Issue Size | Approx ₹251.15 Crores |
Offer for Sale | Approx ₹35.15 Crores |
Face Value | ₹10 Per Equity Share |
Listing at NSE, BSE
| IPO Open Date | November 28, 2022 |
| IPO Close Date | November 30 2022 |
| Allotment Date | December 5, 2022 |
| Initiation of Refunds | December 6, 2022 |
| Credit Of Shares | December 6, 2022 |
| IPO Listing Date |
About Dharmaj Crop Guard Limited IPO
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 fertilizers and antibiotics to the B2C and B2B customers.
The company also provides crop protection solutions to the farmer to assist them to maximize productivity and profitability. Dharmaj Crop Guard Limited export products to more than 20 countries in Latin America, East African Countries, the Middle East and Far East Asia.
As of November 30, 2021, Dharmaj Crop Guard Limited had more than 196 institutional products that they sold to more than 600 customers based in India and the international markets. As of November 30, 2021, the company exported its products to more than 60 customers across 20 countries.
The company’s manufacturing facility is located in Ahmedabad, Gujarat, India. Dharmaj Crop Guard Limited also has a research and development (“R&D”) centre at the manufacturing facility.
The company’s branded products are sold in 12 states through a network comprising over 3,700 dealers having access to 8 stock depots in India, as of November 30, 2021.
The revenue from operations for Fiscals 2019, 2020 and 2021 and seven months period ended on October 31, 2021, was Rs 1,393.56 million, Rs 1,982.22 million, Rs 3,024.10 million and Rs 2,272.62 million, respectively.
Dharmaj Crop Guard IPO Objectives
– Funding capital expenditure towards setting up a manufacturing facility at Saykha, Bharuch, Gujarat.
– Funding incremental working capital requirements of the Company.
Repayment and/or pre-payment, in full and/or part, of certain borrowings of the Company.
– General corporate purposes
Why should you invest in the Dharmaj Crop Guard Limited IPO?
- During the five-year period 2016-2020, the global pesticides market has grown at a Compounded Annual Growth Rate (CAGR) of 4.3% from USD 57 billion in 2016 to USD 67 billion in 2020.
- It is expected that the pesticides market in the regions like India and China will grow at a faster CAGR of 3.4%-3.7% by 2024 compared to other regions.
| ₹ in Crores | |||
| Financial Year | Revenue | Expense | PAT |
| March 2020 | ₹199 | ₹188.24 | ₹10.76 |
| March 2021 | ₹304 | ₹283.04 | ₹20.96 |
| March 2022 | ₹396 | ₹367.31 | ₹28.69 |
| 31 July 2022 | ₹221 | ₹202.64 | ₹18.36 |
Dharmaj Crop Guard IPO Review
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Dharmaj Crop Guard IPO Subscription Status Today
| Category | Subscription (times) |
| QIB | 0.35 |
| NII | 1.80 |
| Retail | 2.60 |
| EMP | 1.77 |
| Total | 1.79 |
| Category | Subscription (times) |
| QIB | 0.76 |
| NII | 8.74 |
| Retail | 7.75 |
| Emp | 3.75 |
| Total | 5.97 |
| Category | Subscription (times) |
| QIB | 48.21 |
| NII | 52.29 |
| Retail | 21.53 |
| Emp | 7.48 |
| Total | 35.49 |
Dharmaj Crop Guard IPO Pros & Cons:
| PROS | CONS | |
|---|---|---|
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A diverse product portfolio with a constant focus on quality and innovation. |
Failure to adhere to customer-mandated quality standards, technical requirements, frequent inspections, and audits may result in the loss of business.
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Strong research and development skills with an emphasis on innovation and long-term viability. |
The bulk of the company’s consumers does not have long-term contracts.
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A stable relationship with institutional clients and established distribution network with strong branded products |
Failure to obtain appropriate registrations or maintain statutory and regulatory permissions and approvals would have a negative impact on the company’s and manufacturing facility’s operations.
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IPO Grey Market Premium, Latest IPO GMP
Grey Market Premium on 24-11-2022 – ₹35
How to apply for Dharmaj Crop Guard IPO
Competitive Peers
The company continues to face challenges from its listed peers.
Name of the Company | Total Revenue | EPS | NAV Per Share | PE | RoNW% |
Dharmaj Corp Guard Limited | 302.4 | 8.5 | 22.8 | NA | 37.3% |
Rallis India | 2429.4 | 11.8 | 81.8 | 23.4 | 14.4% |
India Pesticides | 649.0 | 12.1 | 33.8 | 26.6 | 34.5% |
Punjab Chemical & Corp Protection | 678.2 | 40.0 | 117.9 | 37.6 | 34.0% |
Bharat Rasayan | 1092.0 | 385.7 | 1750.3 | 32.4 | 22.5% |
Astec Lifesciences | 554.9 | 33.2 | 157.9 | 45.7 | 23.4% |
Heranba Industries | 1218.6 | 39.4 | 132.0 | 16.6 | 29.2% |
Dharmaj Crop Guard IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: dharmaj.crop@linkintime.co.in
Website: https://linkintime.co.in/
Dharmaj Crop Guard IPO Allotment Status Check
Check allotment status on Linkintime website allotment URL. Click Here
Dharmaj Crop Guard IPO Lead Managers
- Elara Securities (India) Private Limited
- Monarch Networth Capital Ltd
Company Address
Dharmaj Crop Guard Limited
Plot No. 408 to 411,
Kerala GIDC Estate, Off NH-8, At: Kerala,
Taluka Bavla, Ahmedabad – 382220
Phone: +91-79-29603735
Website: http://www.dharmajcrop.com/
How to apply for Dharmaj Crop Guard IPO
Dharmaj Crop Guard IPO FAQs
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
shares will be available on Dec 05, 2022.
Log in to Console in Zerodha Website or in Application. Go to Portfolio and Click on IPO. You will see the IPO Name “Kaynes Technology Ltd”. Click on Bid Button. Enter your UPI ID, Quantity, and Price. Submit IPO Application Form. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Zerodha.
Log in to the Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Kaynes Technology Ltd”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox.
