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Dharmaj Crop Guard Limited IPO (Dharmaj Crop Guard IPO) Detail

November 28, 2022 - November 30, 2022

Dharmaj Crop Guard IPO is a book built issue of Rs 251.15 crores. The issue is a combination of fresh issue of 0.91 crore shares aggregating to Rs 216.00 crores and offer for sale of 0.15 crore shares aggregating to Rs 35.15 crores.

Dharmaj Crop Guard IPO bidding started from November 28, 2022 and ended on November 30, 2022. The allotment for Dharmaj Crop Guard IPO was finalized on Monday, December 5, 2022. The shares got listed on BSE, NSE on December 8, 2022.

Dharmaj Crop Guard IPO price band is set at ₹216 to ₹237 per share. The minimum lot size for an application is 60 Shares. The minimum amount of investment required by retail investors is ₹14,220. The minimum lot size investment for sNII is 15 lots (900 shares), amounting to ₹213,300, and for bNII, it is 71 lots (4,260 shares), amounting to ₹1,009,620.

Elara Capital (India) Private Limited and Monarch Networth Capital Ltd are the book running lead managers of the Dharmaj Crop Guard IPO, while Link Intime India Private Ltd is the registrar for the issue.

Refer to Dharmaj Crop Guard IPO RHP for detailed information.

Dharmaj Crop Guard IPO Details

IPO Date November 28, 2022 to November 30, 2022
Listing Date December 8, 2022
Face Value ₹10 per share
Price Band ₹216 to ₹237 per share
Lot Size 60 Shares
Total Issue Size10,596,924 shares
(aggregating up to ₹251.15 Cr)
Fresh Issue9,113,924 shares
(aggregating up to ₹216.00 Cr)
Offer for Sale1,483,000 shares of ₹10
(aggregating up to ₹35.15 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE

Dharmaj Crop Guard IPO Reservation

Dharmaj Crop Guard IPO a total of 8,012,990 shares are offered. QIB: 2,243,990 (28.00%), RII: 3,999,800 (49.92%), NII: 1,714,200 (21.39%).

Anchor Investor Shares Offered-
QIB Shares Offered2,243,990 (28.00%)
NII (HNI) Shares Offered1,714,200 (21.39%)
Retail Shares Offered3,999,800 (49.92%)
Employee Shares Offered55,000 (0.69%)
Total Shares Offered8,012,990 (100%)

Dharmaj Crop Guard IPO Timeline (Tentative Schedule)

Dharmaj Crop Guard IPO opens on November 28, 2022, and closes on November 30, 2022.

IPO Open Date Monday, November 28, 2022
IPO Close Date Wednesday, November 30, 2022
Basis of Allotment Monday, December 5, 2022
Initiation of Refunds Tuesday, December 6, 2022
Credit of Shares to Demat Tuesday, December 6, 2022
Listing Date Thursday, December 8, 2022
Cut-off time for UPI mandate confirmation 5 PM on November 30, 2022

Dharmaj Crop Guard IPO Lot Size

Investors can bid for a minimum of 60 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 60 ₹14,220
Retail (Max) 14 840 ₹199,080
S-HNI (Min) 15 900 ₹213,300
S-HNI (Max) 70 4,200 ₹995,400
B-HNI (Min) 71 4,260 ₹1,009,620
Lot Size Calculator

Dharmaj Crop Guard IPO Promoter Holding

Rameshbhai Ravajibhai Talavia, Jamankumar Hansarajbhai Talavia, Jagdishbhai Ravjibhai Savaliya and Vishal Domadia are the company promoters.

Share Holding Pre Issue 100%
Share Holding Post Issue 68.64%

About Dharmaj Crop Guard Limited

Incorporated in 2015, Dharmaj Crop Guard Limited is an agrochemical company. 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.

Company Financials

Dharmaj Crop Guard Limited Financial Information (Restated)
Period EndedTotal AssetsTotal RevenueProfit After TaxNet WorthTotal Borrowing
Amount in ₹ Crore

Key Performance Indicator

Dharmaj Crop Guard IPO Market Cap is Rs 801 Cr and P/E (x) is 14.55.

KPI Values
P/E (x)14.55
Market Cap (₹ Cr.)801

Objects of the Issue (Dharmaj Crop Guard IPO Objectives)

The net proceeds of the Fresh Issue are proposed to be utilised in the following manner:

1. Funding capital expenditure towards setting up of a manufacturing facility at Saykha, Bharuch, Gujarat.

2. Funding incremental working capital requirements of the Company.

3. Repayment and/or pre-payment, in full and/or part, of certain borrowings of the Company.

4. General corporate purposes.

Dharmaj Crop Guard IPO Review (Apply)

[Dilip Davda]  DCGL is in the agrochemical segment and has created a niche place with its B2C and B2B model. It has posted steady growth in its top and bottom lines and is poised for bright prospects with more products launch up its sleeves. Currently, this segment is also witnessing fancy in the market. Investors may consider investment for the medium to long-term rewards. Read detail review...

Dharmaj Crop Guard IPO Subscription Status (Bidding Detail)

The Dharmaj Crop Guard IPO is subscribed 35.49 times on Nov 30, 2022 7:00:00 PM. The public issue subscribed 21.53 times in the retail category, 48.21 times in the QIB category, and 52.29 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
    bNII (bids above ₹10L)52.97
    sNII (bids below ₹10L)50.93

Dharmaj Crop Guard IPO Prospectus

Dharmaj Crop Guard IPO Rating

Rating:Rated 4.2 stars
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Dharmaj Crop Guard IPO Listing Details

Listing Date December 8, 2022
BSE Script Code 543687
Final Issue Price ₹237 per share

Pre-Open Session - NSE Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Last Trade

Check IPO Performance…

Dharmaj Crop Guard IPO Contact Details

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

Dharmaj Crop Guard IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270

Dharmaj Crop Guard IPO - Buy or Not

Dharmaj Crop Guard IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 13 1 0
Members 11 0 0

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Dharmaj Crop Guard IPO FAQs

Dharmaj Crop Guard IPO is a main-board IPO of 10,596,924 equity shares of the face value of ₹10 aggregating up to ₹251.15 Crores. The issue is priced at ₹216 to ₹237 per share. The minimum order quantity is 60 Shares.

The IPO opens on November 28, 2022, and closes on November 30, 2022.

Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Zerodha customers can apply online in Dharmaj Crop Guard IPO using UPI as a payment gateway. Zerodha customers can apply in Dharmaj Crop Guard IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Dharmaj Crop Guard IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Dharmaj Crop Guard IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Dharmaj Crop Guard IPO opens on November 28, 2022 and closes on November 30, 2022.

Dharmaj Crop Guard IPO lot size is 60 Shares, and the minimum amount required is ₹14,220.

You can apply in Dharmaj Crop Guard IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Dharmaj Crop Guard IPO will be done on Monday, December 5, 2022, and the allotted shares will be credited to your demat account by Tuesday, December 6, 2022. Check the Dharmaj Crop Guard IPO allotment status.

The Dharmaj Crop Guard IPO listing date is on December 8, 2022.
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Dharmaj Crop Guard IPO Message Board

Ranked Members of Forum  Ranked Members | Most Liked Members



512. IPO guro |   Link |Dec 27, 2022 6:42:42 PM
IPO Mentor IPO Mentor (1000+ Posts, 400+ Likes)
Jai ho Sidney Sai Baba ki
4 retails 4 HNIS no allotment
Now 50,60 ₹ discount
512.1. Ratgali |   Link |Dec 29, 2022 5:48:29 PM
Bro it's good to buy now or wait more till 150??
511. Manipo |   Link |Dec 14, 2022 7:36:19 PM (200+ Posts)
I think the promoter share holding post IPO is incorrectly mentioned here as 73%.
Can you check?
As per my calculation, it is 68.6%

Pre IPO number shared held by promoter = 24,683,372
OFS shares = 1,483,000
New shares in IPO = 9,113,924

Promoter shares post IPO = 24,683,372 - 1,483,000 = 2,32,00,372
Total shares post IPO = 24,683,372 + 9,113,924 = 3,37,97,296

Promoter shareholding % post IPO = (2,32,00,372/3,37,97,296) * 100 = 68.64%
510. Sukhi sansar |   Link |Dec 11, 2022 5:10:17 PM
सुखी संसार द्वारा दिए जाने वाले आईपीओ स्कोर

Sula Vineyards का स्कोर 21
Landmark cars का स्कोर 13
Abans Holdings का स्कोर 10
Dharmaj crop का स्कोर 35
509. IPO MILNE WALA HAI😜 |   Link |Dec 9, 2022 12:37:38 PM
Top Contributor Top Contributor (400+ Posts, 200+ Likes)
have kept Stop loss of ipo issue price😆
509.7. Agni अग्नि |   Link |Dec 15, 2022 1:08:47 PM
Share ke saath 0 balance account free? PAN checked from Demat and offer auto applied? LOL
509.8. IPO MILNE WALA HAI😜 |   Link |Dec 22, 2022 1:04:22 AM
Top Contributor Top Contributor (400+ Posts, 200+ Likes)
Hahahahaha @अग्नि 😂😂no just trying luck with ipo’s that’s why opened,not a 0 bal account btw they dont offer🥹
508. Abhijeet Kumar |   Link |Dec 9, 2022 11:02:27 AM
Heranba is better company this. So if anyone got allotment should make a switch to Heranba
508.1. ipobull |   Link |Dec 9, 2022 2:05:41 PM
IPO Guru IPO Guru (1000+ Posts, 1000+ Likes)
Did you make these comments earlier.
508.2. Abhijeet Kumar |   Link |Dec 12, 2022 1:17:58 PM
Yes i had made this comment even before this ipo opened. Heranba is much bigger and stronger company than this.
507. IPO ❤ |   Link |Dec 9, 2022 10:32:41 AM
Koi Mujhe batayegaaaaa
ye top contributer,ipo guru ke badge kaise applicable hote hai
yaha par
term & Condition kya hai
506. Vidyarthi |   Link |Dec 8, 2022 8:59:04 PM
Kal tufaan ayega
506.2. SSingh |   Link |Dec 9, 2022 9:57:13 AM
IPO Guru IPO Guru (1200+ Posts, 600+ Likes)
Aa gaya aur saara premium baha ke le gaya :D
506.3. IPO ❤ |   Link |Dec 9, 2022 10:27:08 AM
maine to kal hi 2k profit book kar liya thank good
505. ipobull |   Link |Dec 8, 2022 8:48:15 AM
IPO Guru IPO Guru (1000+ Posts, 1000+ Likes)
GMP Euphoria busted. Actually, everyone tries to give a rosy picture.
505.1. ipobull |   Link |Dec 9, 2022 9:44:16 AM
IPO Guru IPO Guru (1000+ Posts, 1000+ Likes)
The GMP displayed by this site and floated by members is actually double the actual premium deserved by the stock. Do not get swayed by rumours on GMP. Do not buy @ high prices after listing, let the stocks stabilize.
504. gala |   Link |Dec 9, 2022 9:42:46 AM
Top Contributor Top Contributor (400+ Posts, 200+ Likes)
If any retailers holding seriously asking to sell 200 is surely coming
503. ipobull |   Link |Dec 9, 2022 8:55:08 AM
IPO Guru IPO Guru (1000+ Posts, 1000+ Likes)
My favorite stocks and recommendations - Yes Bank and Ujjivan Small Finance are making nice moves, giving me tremendous profits. Feeling pretty nice that my conviction in these stocks proved right.
503.4. ipobull |   Link |Dec 13, 2022 3:37:44 PM
IPO Guru IPO Guru (1000+ Posts, 1000+ Likes)
It is time for accumulation in YB. If you want to sell partially, you may do so @ 24.80. But once it is above 25, it can go 46 levels.
Easy trip to be accumulated as it has crossed important level of 55 today and nice profits expected.
503.5. JAI JAI GARVI GUJARAT |   Link |Dec 17, 2022 10:33:16 PM
IPO Mentor IPO Mentor (700+ Posts, 300+ Likes)
Can i make new entry at this level
502. Rajeev Kk |   Link |Dec 8, 2022 9:09:34 PM
Holding the allotted one lot and bought two more lots @266 today. I am a long term investor in this and will buy more lots in further fall. Not a recommendation for others as I am buying based on my risk profile.
502.1. Agni अग्नि |   Link |Dec 9, 2022 9:34:03 AM
I too bought @269 yesterday, looks like pushing to lower levels and loading in truckloads will happen today by the heavies.
501. sundeepj |   Link |Dec 8, 2022 4:22:29 PM
The allotment basis should be change to "FIRST COME, FIRST SERVE" like they follow in NCDs, so that it's fair on the people who approve their mandate on the first day itself. Do you guys agree!!
501.1. Agni अग्नि |   Link |Dec 8, 2022 8:10:38 PM
Then instead of initial public offer (IPO), it'd be renamed to initial flash sale (IFS), seems you like flash sales in apps...
501.2. Rajeev Kk |   Link |Dec 8, 2022 9:12:04 PM
Ha ha good suggestion. Then like irctc we can have tatkal, premium tatkal, waitlist, rac etc.
500. NAITIK |   Link |Dec 8, 2022 12:14:20 PM
I have not been allotted any applied application in Dharmaj Crop
but still my amount is showing lien mark

Whom to contact please guide??
500.1. IPO KING MAKER |   Link |Dec 8, 2022 8:07:55 PM
IPO Mentor IPO Mentor (600+ Posts, 300+ Likes)
Contact to your home branch
499. Hostpacker |   Link |Dec 8, 2022 7:31:46 PM
It will fire on tomorrow.
498. Z©RR© |   Link |Dec 6, 2022 5:06:28 PM
This is not cheap by any means. Nothing beyond a small listing gain can be expected and thereafter the price would languish.
498.1. Z©RR© |   Link |Dec 8, 2022 10:16:41 AM
Moving pretty much in accordance with the prediction.
498.2. arunARUN |   Link |Dec 8, 2022 4:31:34 PM
IPO Guru IPO Guru (1800+ Posts, 1600+ Likes)
I agree with your statement of limited upside
497. RAJESH NAGARIA |   Link |Dec 8, 2022 12:49:16 PM
Sold all alloted 1819 shares @ 275.
497.2. IPO KING MAKER |   Link |Dec 8, 2022 1:43:06 PM
IPO Mentor IPO Mentor (600+ Posts, 300+ Likes)
1819 share how?
497.3. arunARUN |   Link |Dec 8, 2022 4:29:10 PM
IPO Guru IPO Guru (1800+ Posts, 1600+ Likes)
Apply in bHNI
496. dinesh bhadada |   Link |Dec 8, 2022 3:37:23 PM
495. Not A Trader |   Link |Dec 8, 2022 3:04:32 PM
Bought at avg price 273 rs of 50 quantity.Now being sceptical about rise
494. arvindarvind |   Link |Dec 8, 2022 1:57:08 PM
Top Contributor Top Contributor (800+ Posts, 200+ Likes)
Delivery above 50 lakh.
All retailer and hni have sold their share.
Game will start from tomorrow ?
494.1. Agni अग्नि |   Link |Dec 8, 2022 2:32:25 PM
Next 2 session mein to game banta hai... bought some @ 269 and holding for a few days... ~300 hojaye to nikal lunga.
493. SSingh |   Link |Dec 8, 2022 2:11:54 PM
IPO Guru IPO Guru (1200+ Posts, 600+ Likes)
Dharmaj ki listing Nirlajj..
Sold and exited in preopen!
Too many IPOs in pipeline..
Khao, peeo, khisko...