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November 28, 2022 - November 30, 2022

Dharmaj Crop Guard IPO Basis of Allotment

wpe1.jpg (3988 bytes) DHARMAJ CROP GUARD LIMITED

Dharma- Crop Guard Limited ("Company" or "Issuer") was incorporated on January 19, 2015, at Ahmedabad as a public limited company under the Companies Act, 2013 pursuant to a certificate of ".corporation issued by the Registrar of Company, Gujarat at Ahmedabad ("RoC"). For further details on the change in name and the registered office of our Company, see "History and Certain Corporate Matter" on page 183 of the prospectus of the Company dated December 2, 2022 filed with the RoC, read together with the Corrigendum dated December 7, 2022 ("Prospectus")

Corporate Identity Number: U24100GJ2015PLC081941
Registered Office: Plot No 408 to 411, Kerala GlDC Estate, Off NH-S, At: Kerala. Taluka Bavla, Ahmedabad - 382 220, Gujarat, India; Tel: +91-2714-268000.
Corporate Office: Office No. 901 to 903 and 911. B-square 2, Iscon Ambli Road. Ahmedabad - 380 058. Gujarat. India; Tel: +91-79-29603735; Contact Person: Mahrika Bhadreshbhai Kapasi. Company Secretary and Compliance Officer.
E-mail: cs@dharmajcrop.com , Website: www.dharmajcrop.com
OUR PROMOTERS: RAMESHBHAI RAVAJIBHAI TALAVIA, JAMANKUMAR HANSARAJBHAI TALAVIA, JAGDISHBHAI RAVJIBHAI SAVALIYA AND VISHAL DOMADIA
BASIS OF ALLOTMENT

Our Company has filed the Prospectus dated December 2, 2022 with the RoC, and the Equity Shares are proposed to be listed on the National Stock Exchange of India Limited ("NSE") and BSE Limited ("BSE") and trading will commence on December 8, 2022.

INITIAL PUBLIC OFFERING OF 10,596,924 EQUITY SHARES OF FACE VALUE OF Rs 10 EACH ("EQUITY SHARES") OF OUR COMPANY FOR CASH AT A PRICE OF Rs 237 PER EQUITY SHARE, INCLUDINGA PREMIUM OF Rs 227 PER EQUITY SHARE, (THE "OFFER PRICE") AGGREGATING TO Rs 2.510.92 MILLION. COMPRISING OF AFRESH ISSUE OF 9,113,924 EQUITY SHARES AGGREGATING TO Rs 2.159.45 MILLION BY OUR COMPANY ("FRESH ISSUE") AND AN OFFER FOR SALE OF 709,500 EQUITY SHARES BY MANJULABEN RAMESHBHAITALAVIA, 656.000 EQUITY SHARES BY MUKTABEN JAM ANKUMAR TALAVIA. 67,500 EQUITY SHARES BY DOMADIA ARTIBEN AND 30.000 EQUITY SHARES BY ILABEN JAGDISH BHAI SAVALIYA (COLLECTIVELY, THE "SELLING SHAREHOLDERS"), AGGREGATING T0 1,483.000 EQUITY SHARES ("OFFERED SHARES") AGGREGATING TO Rs 351.47 MILLION (THE "OFFER FOR SALE" AND TOGETHER WITH THE FRESH ISSUE. THE "OFFER").

THE OFFER INCLUDES A RESERVATION OF 55,000 EQUITY SHARES AGGREGATING TO Rs 12.49 MILLION FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES (CONSTITUTING 0.16% OF THE POST-OFFER EQUITY SHARE CAPITAL OF OUR COMPANY) (THE "EMPLOYEE RESERVATION PORTION") AT A DISCOUNT OF Rs 10 PER EQUITY SHARE ON THE OFFER PRICE. THE OFFER LESS THE EMPLOYEE RESERVATION PORTION IS HEREINAFTER REFERRED TO AS THE "NET OFFER". THE OFFERANDTHENET OFFER SHALL CONSTITUTE 31.35% AND 31.19%, RESPECTIVELY, OF THE POST-OFFER PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.

ANCHOR INVESTOR OFFER PRICE: Rs 237 PER EQUITY SHARE OF FACE VALUE OF Rs 10 EACH
OFFER PRICE: Rs 237 PER EQUITY SHARE OF FACE VALUE OF Rs 10 EACH
THE OFFER PRICE IS 23.7 TIMES OF THE FACE VALUE
Risks to Investors:

RISK FACTORS ASSOCIATED WITH OUR COMPANY ARE:

1. We are dependent on a limited number of customers for a significant portion of our revenues. In Fiscals 2020,2021 and 2022, and in the four months ended July 31, 2022, our top 10 customers contributed Rs 399.98 million, Rs 526.79 million, Rs 757.65 million and Rs 480.39 million, respectively of our total revenues from operations and represented 20.18%, 17.42%, 19.22% and 21.74%, respectively, of our total revenues from operations in such periods.

2. Our business is subject to climatic conditions and is cyclical In nature. Seasonal variations and unfavorable local and global weather patterns may have an adverse effect on our business, results of operations and financial condition.

3. We derive almost all of our revenues from the sale of Formulations in the agro-chemicals industry and any reduction in the demand for such products or the agro-chemicals industry could have an adverse effect on our business, results of operations and financial condition.

4. We are subject to strict technical specifications, quality requirements, regular inspections and audits by our customers and our failure to comply with the quality standards and technical specifications prescribed by such customers may lead to loss of business from such customers and could negatively impact our reputation, which would have an adverse impact on our business prospects and results of operations.

•The Weighted Average Cost acquisition of all Equity Shares transacted in last three years, 18 months and one year preceding the date of the RHP:

Period Weighted Average Cost of Acquisition (in Rs ) Upper End of the Price Band (Rs 237) is 'X' times the Weighted Average Cost of Acquisition* Range of Acquisition Price: Lowest Price - Highest Price (in Rs )
Last 1 year -
Last 18 Months - - -
Last 3 years 0.32 740.63 2.89*-2.89

As certified by KARMAS, Co. LLP, Chartered Accountants vide their certificate dated December 2, 2022.

‘Lowest price at which the Equity Shares were acquired, excluding through gift and bonus issue.

• The Price/Earnings ratio based on diluted EPS for Fiscal 2022 for our Company at upper end of the Price Band is 20.40 times and Price/Earnings ratio of the average industry peer group as on the date of RHP is 24.04 times.

• Weighted Average Return on Net Worth for Fiscals 2022, 2021 & 2020 is 34.86% and Return on Net Worth for the four months period ended July 31, 2022 is 18.15% (not annualised).

• Average cost of acquisition of Equity Shares for the Selling Shareholders is as provided below and Offer Price at upper end of the Price Band is Rs 237 per Equity Share.

Name of the Selling Shareholders Average Cost of Acquisition per Equity Share (in)
Manjulaben Rameshbhai Talavia 7.52
Muktaben Jamankumar Talavia 7.19
Domadia Artiben 1.98
llabcn Jagdishbhai Savaliya 1.98

• As certified by K A R M A & Co. LLP, Chartered Accountants vide their certificate dated December 2, 2022. • The two BRLMs associated with the Offer have handled NIL public offers in the past three Fiscal Years.

BID/OFFER PERIOD
ANCHOR INVESTOR BIDDING DATE OPENED AND CLOSED ON FRIDAY, NOVEMBER 25, 2022
BID/ OFFER OPENED ON MONDAY, NOVEMBER 28, 20221
BID/ OFFER CLOSED ON WEDNESDAY, NOVEMBER 30, 2022

The Offer was made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended ("SCRR"), read with Regulation 31 of the SEBI ICDR Regulations The Offer was made through the Book Building Process in accordance with Regulation 6( 1) of the SEBI ICDR Regulations where, not more than 50% of the Net Offer was available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs") (the "QIB Portion"). Our Company in consultation with the BRLMs and Selling Shareholders, associated 60% of the OIB Portion to Anchor investors on a discretionary basis ("Anchor Investor Portion"), out of which one third was reserved for domestic Mutual Funds, subject to valid Bids having been received from domestic Mutual Funds at or above the Anchor Investor Association Price, in accordance with the SEBI ICDR Regulations Further. 5% of the Net QIB Portion was made available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion was available for allocation on a proportionate basis to at QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids having been received at or above the Offer Price. However, if the aggregate demand from Mutual Funds was less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion were added to the remaining Net QIB Portion for proportionate allocation to QIBs. Further, not less than 15% of the Net Offer was available for allocation to Non-Institutional Bidders ("Non- Institutional Portion") (of which one third of the Non-Institutional Portion was made reserved for Bidders with an application size between Rs 0.20 million and up to Rs 1 million and two thirds of the Non- Institutional Portion was made reserved for Bidders with an application size exceeding Rs 1 million) and under-subscription in either of these two sub-categories of Non-Institutional Portion was allocated to Bidders in the other subcategory of Non-Institutional Portion, subject to valid Bids being received at or above the Offer Price and not less than 35% of the Net Offer was made available for allocation to Retail Individual Investors ("RUs") in accordance with the SEBI ICDR Regulations, subject to valid Bids have been receded from them at or above the Offer Price All Bidders, other than Anchor investors, were mandatorily required to participate in the Offer through the Application Supported by Blocked Amount ("ASBA") process by providing details of their respective ASBA Accounts (as defined here- rafter) including If PI ID in case of UPI Bidders in which the Bid Amount were blocked by the Self Certified Syndicate Banks ("SCSBs") or the Sponsor Bank, as the case may be. Anchor Investors were not permitted to participate m the Anchor Investor Portion through the ASBA process. For details, see 'Offer Procedure" on page 337 of the Prospectus,

The bidding for Anchor Investor opened end closed on November 25, 2022. The Company received 3 applications from 3 Anchor Investors for 31,62,540 Equity Shares. The Anchor Investor Offer Price was finalized at Rs 237 per Equity Share. A total of 31,62,540 Equity Shares were allocated under the Anchor Investor Portion aggregating to Rs 74,95,21,980.00.

The Offer received 1,254,197 applications for 287,016.000 Equity Shares (prior to technical rejections) resulting in 27.0846 times subscription.

The details of the applications received in the Offer from Retail Individual Bidders. Non-Institutional Bidders and QIBs are as under (before technical reactions):

SI No Category No of Applications received No. of Equity Shares applied No. of Equity Shares Reserved (as per Prospectus) No. of times Subscribed Amount (Rs )
A Retail Individual Bidders 1,206,542 85,886,520 3,689,674 23.2775 20,353,003,620.00
B Non-Institutional Bidders - More than Rs 2 lakhs and upto Rs10 lakhs 31,040 29,344,500 527,097 55.6719 6,954,244,200.00
C Non- Institutional Bidders - More than Rs10 lakhs 13,005 68,016,000 1,054,192 64.5196 16,119,032,160.00
D Eligible Employees 3,563 4,09,440 55,000 7.4444 93,213,420.00
E Qualified Institutional Bidders (excluding Anchors Investors) 44 100,197,000 2,108,421 47.5223 23,746,689,000.00
F Anchor Investors 3 3,162,540 3,162,540 1.0 749,521,980.00
Total 1,254,197 287,016,000 10,596,924 27.0848 68,015,704,380.00

Final Demand

A summary of the final demand as per BSE and NSE as or. the Bid Offer Closing Dale at different Bid price is as under

Sr. No Bid Price No. of Equity Shares % to Total Cumulative Total Cumulative % of Total
1 216 353,460 0.11 353,460 0.11
2 217 29,640 0.01 383,100 0.12
3 218 15,300 0.00 398,400 0.13
4 219 5,880 0.00 404,280 0.13
5 220 94,080 0.03 498,360 0.16
6 221 8,820 0.00 507,180 0.16
7 222 10,440 0.00 517,620 0.17
8 223 4,800 0.00 522,420 0.17
9 224 3,900 0.00 526,320 0.17
10 225 74,400 0.02 600,720 0.19
11 226 13,860 0.00 614,580 0.20
12 227 22,800 0.01 637,380 0.21
13 228 4,980 0.00 642,360 0.21
14 229 2,340 0.00 644,700 0.21
15 230 77,760 0.03 722,460 0.23
16 231 7,620 0.00 730,080 0.24
17 232 10,380 0.00 740,460 0.24
18 233 6,300 0.00 746J60 0.24
19 234 20,340 0.01 767,100 0.25
20 235 132,540 0.04 899,640 0.29
21 236 136,560 0.04 1,036,200 0.34
22 237 216,218,820 70.10 217,255,020 70.43
23 9,999 91,203,780 29.57 308,458,800 100 00
TOTAL 308,458,800 100.00

The Bass of Allotment was finalized in consultation with the Designated Stock Exchange. being NSE on December 5, 2022.

A. Allotment to Retail Individual Bidders (After Technical Rejections)

The Basis of Allotment to the Retail Individual Bidders, who have bid at cut-off or at the Offer Price of Rs 237 per Equity, was finalized in consultation with NSE This category has been subscribed to the extent of 22.6183 times The total number of Equity Shares Allotted in Retail Individual Bidders category is 3,689,674 Equity Shares to 61.494 successful applicants. The category-wise details of the Basis of Allotment are as under

Sr. No. Category No. of Applications Received % of Total Total No. of Equity Shares applied % to Total No. of Equity Shares allotted per Bidder Ratio Total No. of Equity Shares allotted
1 60 1,102,302 93.91 66,138,120 79.25 60 23:439 3,464,880
2 120 38,294 3.26 4,595,280 5.51 60 23:439 120,360
3 180 10,931 093 1,967,580 2.36 60 23:439 34,380
4 240 5,079 043 1,218,960 1.46 60 23:439 15,960
5 300 4,333 0.37 1,299,900 1.56 60 23:439 13,620
6 360 1,578 0.13 566,080 0.68 60 23:439 4,980
7 420 2,296 0 20 964,320 1.16 60 23:439 7,200
8 480 872 0.07 418,560 0.50 60 23:439 2.760
9 540 444 0.04 239,760 0.29 60 23:44 1,380
10 600 1,262 0.11 757,200 0.91 60 23:439 3,960
11 660 270 0.02 178,200 0.21 60 14:270 840
12 720 301 0.03 216,720 0.26 60 16:301 960
13 780 461 0.04 359,580 0.43 60 24:461 1,440
14 840 5,395 0.46 4,531,800 5.43 60 23:439 16,920
3.746 Allottees from Serial no 2 to 14 Additional 1(one) share 34:3746 34
TOTAL 1,173,818 100,00,83,454,060 100.00 3,689,674

B. Allotment to Non-Institutional Bidders (more than Rs 2 lakhs and upto 10 lakhs) (After Technical Rejections)

The Basis of Allotment lo the Non- Institutional Bidders (more than Rs 2 lakhs and upto Rs 10 lakhs), who have bid at the Offer Price of Rs 237 per Equity Share or above. was finalized in consultation with NSE, This category has been subscribed to the extent of 54,5236 The total number of Equity Shares allotted m this category Rs 527,097 Equity Shares lo 585 successful applicants. The category-wise details of the Basis of Allotment are as under. (Sample)

Sr No. Category No. of Applications Received % of Total Total No. of Equity Shares applied % to Total No. of Equity Shares allotted per Bidder Ratio Total No. of Equity Shares allotted
1 900 28,690 94.29 25,821,000 89.85 900 9:468 496,800
2 960 484 1.59 464,640 1.62 918 9:484 8,262
3 1,020 202 0.66 206,040 0.72 918 4:202 3,672
4 1,080 67 0.29 93,960 0.33 918 2:87 1,836
5 1,140 35 0.12 39,900 0.14 918 1:35 918
6 1,200 122 0.40 146,400 0.51 918 2:122 1,836
7 1,260 62 0.20 78,120 0.27 918 1:62 918
8 1,320 19 0.06 25,080 0.09 918 1:19 918
9 1,380 21 0.07 28,980 0.10 918 1:21 918
10 1,440 14 0.05 20,160 0.07 918 0:14 0
11 1,500 56 0.18 84,000 0.29 918 1:56 918
14 1,680 28 0.09 47,040 0.16 918 1:28 918
15 1,740 15 0.05 26,100 0.09 918 0:15 0
16 1,800 90 0.30 162,000 0.56 918 2:90 1,836
18 1,920 15 0.05 28,800 0.10 918 0:15 0
21 2,040 17 0.06 34,680 0.12 918 0:17 0
22 2,100 86 0.28 180,600 0.63 918 2:86 1,836
26 2,160 33 0.11 71,280 0.25 918 1:33 918
19 2,400 29 0.10 69,600 0.24 918 1:29 918
31 2,700 18 0.06 48,600 0.17 918 0:18 0
35 3,000 39 0.13 117,000 0.41 918 1:39 918
39 3,360 9 0.03 30,240 0.11 918 0:9 0
40 3,420 10 0.03 34,200 0.12 918 0:10 0
42 3,600 14 0.05 50,400 0.18 918 0:14 0
50 4,140 4 0.01 16,560 0.06 918 0:4 0
51 4,200 126 0.41 529,200 1.84 918 3:126 2,754
All allottees from Serial No 2 to 51 for 1 (one) additional share 1 3:33 3
TOTAL 30,427 100 28,739,220 100 527,097

C. The Basis of Allotment to the Non-Institutional Bidders (more than Rs 10 lakhs)

who have bid at the Offer Price of 1237 per Equity Share or above, was finalized in consultation with NSE This category has been subscribed to the extent of 63.7011 times. The total number of Equity Shares allotted in this category is 1,054,192 Equity Shares to 1.171 successful applicants. The category-wise details of the Basis of Allotment are as under (Sample)

Sr. No. Category No. of Applications Received % of Total Total No. of Equity Shares applied % to Total No. of Equity Shares allotted per applicant Ration of allottees to applicants Total No. of Equity shares allocated/allotted
1 4,260 11,792 91.74 50,233,920 74.8 900 29 318 967.500
2 4,320 262 2.03 1,131,840 1.68 900 12 131 21,600
3 4,380 70 0.54 306,600 0.45 900 6 70 5,400
4 4,440 27 0.21 119,880 0.17 900 2 27 1,800
5 4,500 144 1.12 645,000 0.96 900 13 144 11,700
6 4,560 16 0.12 72,960 0.1 900 1 16 900
7 4,620 41 0.31 189,420 0.28 900 4 41 3,600
8 4,680 29 0.22 135,720 0.2 900 3 29 2 700
9 4,740 36 0.29 180,120 0.26 900 3 38 2,700
10 4,800 45 0.35 216,000 0.32 900 4 45 3,600
11 4,860 14 0.1 68,040 0.1 900 1 14 900
12 5,040 21 0.16 105,840 0.15 900 2 21 1,800
113 5,100 15 0.11 76,500 0.11 900 1 15 900
14 5,400 11 0.8 59,400 0.08 900 1 11 900
16 6,000 26 0.2 156,000 0.23 900 2 26 1,800
18 6,300 10 0.07 63,000 0.09 900 1 10 900
8,400 18 0.14 151,200 0.22 900 2 18 1,800
22 9,000 13 0.1 117,000 0.17 900 1 13 900
23 10,500 14 0.1 147,000 0.21 900 1 14 900
27 21,000 11 0.08 231,000 0.34 900 1 11 900
All applicants from Serial No 28 to 145 for 1 (one) lot of 900 shares 900 16:187 14,400
1,171 Allottees from Serial No 1 to 145 Additional 1(one) share 1 1:4 292
Grand Total 12,853,100 67,153,200 100 1,054,192

D. Allotment to Eligible Employees (After Technical Rejections)

The Basis of Allotment to the Eligible Employees, who have bid at the Offer Price of Rs 237 per Equity Share or above, was finalized in consolation with NSE. This category has been subscribed to the extent of 1,8622 limes The total number of Equity Shares allotted in this category is 55,000 Equity Shares to 155 successful applicants The category-wise details of the Basis of Allotment are as under:

Allocation to Eligible Employees (upto Rs 2 lakhs)

Sr. No. Category No. of Applications Received % of Total Total No. of Equity Shares applied % to Total No. of Equity Shares allotted per Bidder Ratio Total No. of Equity Shares allotted
1 60 29 17.90 1,740 2.39 60 22:29 1,320
2 120 14 8.64 1,680 2.31 91 1:1 1,274
3 180 12 7.41 2,160 2.97 136 1:1 1,632
4 240 12 7.41 2.880 3.96 181 1:1 2,172
5 300 5 3.09 1,500 2.06 227 1:1 1,135
6 360 7 4.32 2,520 3.47 272 1:1 1,904
7 420 9 5.56 3,780 5.20 318 1:1 2,862
8 480 6 3.70 2,880 3.96 363 1:1 2,178
9 540 4 2.47 2,160 2.97 409 1:1 1,636
10 600 4 2.47 2,400 3.30 454 1:1 1,816
11 660 6 3.70 3,960 5.45 500 1:1 3,000
12 720 2 1.23 1,440 1.98 545 1:1 1,090
13 780 2 1.23 1,560 2.15 590 1:1 1,180
1 Additional share allocated to Srl no 13 in the ratio of 1:2 1 1:2 1
14 840 15 9.26 12,600 17.34 636 1:1 9,540
15 1,020 1 0.62 840 1.16 636 1:1 636
16 1,080 3 1.85 2,520 3.47 636 1:1 1,908
17 1,200 2 1.23 1,680 2.31 636 1:1 1,272
18 1,260 1 0.62 840 1.16 636 1:1 636
19 1,320 5 3.09 4,200 5.78 636 1:1 3,180
20 1.380 1 0.62 840 1.16 636 1:1 636
21 1,440 1 0.62 840 1.16 636 1:1 636
22 1,500 2 1.23 1,680 2.31 636 1:1 1,272
23 1,680 3 1.85 2,520 3.47 636 1:1 1,908
24 1,740 1 0.62 840 1.16 636 1:1 636
25 2,100 6 3.70 5,040 6.94 636 1:1 3,816
26 2,160 9 5.56 7,560 10.40 636 1:1 5,724
TOTAL 162 106.00 72,660 100.00 55,000

Allocation to Eligible Employees (more than Rs 2 lakhs and up to Rs 5 lakhs)

Sr. No. Category No of Applications Received % of Total Total No. of Equity Shares applied % to Total No. of Equity Shares allotted per Bidder Ratio Total No. of Equity Shares allotted
1 1,020 1 2.86 180 0.60 1 0:0 0
2 1,080 3 8.57 720 2.42 1 0:0 0
3 1,200 2 5.71 720 2.42 1 0:0 0
4 1,260 1 2.86 420 1.41 1 0:0 0
5 1,320 5 14.29 2,400 8.06 1 0:0 0
6 1,380 1 2.86 540 1.81 1 0:0 0
7 1,440 1 2.86 600 202 1 0:0 0
8 1,500 2 5.71 1,320 4.44 1 0:0 0
9 1,680 3 8.57 2,520 8.47 1 0:0 0
10 1,740 1 2.86 900 3.02 1 0:0 0
11 2,100 6 17.14 7,560 25.40 1 0:0 0
12 2,160 9 25.71 11,880 39.92 1 0:0 0
TOTAL 35 100.00 29,780 99.99 0

E. Allotment to QIBs

Allotment to QIBs, who have bid at the Offer Price of Rs 237 per Equity Share or above has been done on a proportionate basis in consultation with NSE. This category has been subscribed to the extent of 47 52 times of Net QIB portion. As per the SEBIICDR Regulations, Mutual Funds were allotted 5% of the Equity Shares of Net QlB portion available i.e Nil Equity Shares and other QIBs and unsatisfied demand of Mutual Funds were allotted the remaining available Equity Shares i.e, 2,108,421 Equity Shares on a proportionate basis. The total number of Equity Shares allotted in the Q IB category is 2,108,421 Equity Shares, which were allotted to 44 successful Applicants.

Category FTS/BANK'S MF'S IC'S NBFC'S AIF FPC VC*S Total
QIB 1,122,135 - 22,196 390,662 179,533 393,890 - 2,108,421

F. Allotment to Anchor Investors

The Company, the Investor Selling Shareholders in consolation with the BRLM, have allocated 31,62,540 Equity Shares to 3 Anchor Investors (through 3 Anchor Investor Application Forms) (including Nil domestic Mutual Funds through Nil schemes) at an Anchor Investor Offer Price at Rs 237 per Equity Share in accordance with SEBI ICDR Regulations. This represents 60% of the QIB portion.

Category FI'S/BANK'S MRS ICS NBFC'S AIF FPC OTHERS Total
Anchor 1 - - 1,054,860 - 2,107,680 - 3,162,540

The Board of Directors of our Company at Its meeting held on December 5, 2022 has taken on record the basis of allotment of Equity Shares approved by the Designated Stock Exchange, being NSE and has allotted the Equity Shares to various successful applicants. The Allotment Advice Cum Refund Intimation and 'or notices have been dispatched to the address of the investors as registered with the depositories. Further, instructions to the SCSBs have been issued for unblocking of funds and transfer to the Public Offer Account on December 5, 2022 and the payments to non-syndicate brokers have been issued on December 6, 2022 in case the same is not received with in ten days investors may contact the Registrar to the Offer at the address given below. The Equity Shares allotted to the successful allottees have been uploaded on December 6, 2022 for NSDL and on December 7, 2022 for CDSL credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned The Company has filed the Listing application with NSE and BSE on December 6, 2022 The Company has received the listing and trading approval from NSE & BSE. and trading will commence on December 6, 2022 Note. All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.

CORRIGENDUM - NOTICE TO INVESTORS

This corrigendum ('Corrigendum') is with reference to the Prospectus filed in relation to the Offer. In this regard please note the followings:

1 The date under the column "Date of Transaction" in the table include under 'History of build-up of Promoter s shareholding and Man of Promoters' shareholding including Promoters contribution - Details of Promoter's Contribution lock - in for three years' w the chapter 'Capital Structure 'on page 90 of the Prospectus, shall read as November 27, 2021 and July 13.2019. Further, the dale under the column 'Date up to which Equity Shares are subject to lock in" of the same table, shall be read as December 5, 2025.

2. The statement "(of which one third of the Non-Institutional Portion was made reserved for Bidders with an application size between Rs 0.20 million and up to Rs million and two- thirds of the Non- Institutional Portion was made reserved for Bidders with an application size exceeding Rs 1 million) and under-subscription in either of these two sub-categories of Non-Institutional Portion was allocated to Bidders m the other subcategory of Non- Institutional Portion, so Portion was allotted Bids being received at or above the Offer Price "shall be added in note 4 after the statement 'Further, not less than 15% of the Net Offer was made available for allocation on a proportionate basis to Non- Institutional Investors' appearing below the table summarizing the details of the Offer in the chapter The offer on page 66 of the Prospectus.

3. The word 'Non-Institutional Investors' shall be added after Retail Individual investors in the statement "Except Allocation to Retail Individual investors and the Anchor Investors, Allocation in the Offer was on a proportionate basis" appearing on paragraph 3 of the "Book Building Process- General Information on page 79 of the Prospectus.

4. The statement The allocation to each Nil shall not be less than the Minimum Nil Application Size, subject to availability of Equity Shares in the Non- Institutional Portion and the remaining avertable Equity Shares, if any. shall be allocated on a proportionate basis in accordance with the conditions specified in the SEBIICDR Regulations' shall be added after the existing statements appearing In the' Basis of allotment if respective category is oversubscribed - Non- Institutional portion' appearing in the table of ‘Offer Structure' and in paragraph 2 under the heading "Method of allotment as may be preserved by SEBI from time to time - Offer Procedure" on page 3312 and page 353 of Prospectus, respectively Further, the word "NIL" shall be added after RIIs appearing in paragraph 2 under the heading "Method of allotment as may be prescribed by SEBI from time to firm - Offer Procedure" on page 353 of Prospectus.

5. The Prospectus shall be read in conjunction with this Corrigendum. The information in this Corrigendum supersedes the information provided in the Prospectus to the extent inconsistent with the information n the Prospectus The Prospectus stands amended to the extent slated hereinabove

6. AS capitalised terms used in this Corrigendum shall unless the context otherwise requires, have the same meanings as ascribed in the Prospectus.

INVESTORS PLEASE NOTE

These details of the Allotment made shall be hosted on the website of Registrar to the Offer, Link Intime India Private Limited at www.linkintime.co.in

All future correspondence in this regard may kindly be addressed lo the Registrar to the Offer quoting fu name of the First/ Sole applicant, Serial number of the Bid cum Application form number. Bidders DP ID, Client ID, PAN, date of submission of Bid cum Application Form, address of the Bidder, number of Equity Shares bid for, name of the Member of the Syndicate, place where the bid was submitted and payment details at the address given below;

wpe2.jpg (2822 bytes) Link Intime India Private Limited
C-101.247 Park, LBS Marg, Vikhroll West, Mumbai - 400 083 Maharashtra, India Telephone: +91 22 4918 6200,
E-mail: dhamvaj.crop@linkintime.co.in ; Website: www.linkintime.co.in ; Investor Grievance e-mail: dharmaj.crop@linkintime.co.in ;
Contact Person: Shanti Gopalkrishnan; SEBI Registration Number: INR000004058
For DHARMAJ CROP GUARD LIMITED
On behalf of the Board of Directors
Place: Ahmedabad, Gujarat Sd/-
Date: December 7, 2022 Malvika Bhadreshbhai kapasi, Company secretary & Compliance officer

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS

PROSPECTS OF DHARMAJ CROP OUARO LIMITED.

DHARMAJ CROP GUARD LIMITED has filed the prospectus dated December 2, 2022 with the RoC together the Corrigendum dated December 7, 2022 (the "Prospectus") The Prospectus shall be made available on the website of the SEBI at www.sebi.gov.in  as well as on the websites of the BRLMs i.e.. Elara Capital (India) Private Limited at www.elaracapital.com   and Monarch Net worth Capital Limited at www.mnclgroup.com , the website of the National Stock Exchange of India Limited at www.nseindia.com  and the website of the BSE Limited at www.bseindia.com  Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risks, see "Risk factors" beginning on page 29 of the Prospectus. Potential investors should not rely on the DRHP for any investment decision

This announcement does not constitute an offer of Equity Shares for sale in any jurisdiction, including the United States, and the Equity Shares offered m the Offer may not be offered or sold in the United States absents registration under the U.S. Securities Act of 1933 or an exemption from registration. Any public offering of the Equity Shares to be made in the United States will be made by means of a prospectus that may be obtained from the Company and that will contain detailed information about the Company and management, as well as financial statements. However, the Equity Shares offered m the Offer are not being offered or sow in the United States



Dharmaj Crop Guard IPO Basis of Allotment FAQs

Check the basis of allotment document above to know about how the shares are allocated in Dharmaj Crop Guard IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).

The Dharmaj Crop Guard IPO basis of allotment (published above) tells you how shares are allocated to you in Dharmaj Crop Guard IPO and category wise demand of IPO share.

Visit the Dharmaj Crop Guard IPO allotment status page to check the number of shares allocated to your application.

Check the basis of allotment document above to know about how the shares are allocated in Dharmaj Crop Guard IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).