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Dharmaj Crop IPO: This agrochemical company earns a bang, there can be a great list in IPO tomorrow

Dharmaj Crop IPO: This agrochemical company earns a bang, there can be a great list in IPO tomorrow

Dharmaj Crop Guard IPO: Many companies have been listed in the country’s IPO market for a few months. Some of these have given handsome returns to the investors. There can be a great listing of shares of Dharmaj Crop Guard, an agrochemical company of Ahmedabad, on 8 December 2022. There is a craze in the gray market for the shares of Dharmaj Crop Guard in the gray market.

IPO price 251 crores

Dharmaj Crop Guard has fixed a price band of Rs 216-237 per share for its IPO of Rs 251 crore. In this issue, 50 percent of the share has been reserved for Qualified Institutional Investors (QIB). 35 percent is reserved for retail bidders and 15 percent for non-institutional players. The lot size in this is of 60 equity shares.

This will be the share price

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According to sources, the IPO of Dharmaj Crop Guard was open from 28 to 30 November. After this, a rise is being seen in the gray market premium. The share price is seen at a premium of Rs 55 to Rs 65 in the gray market. It can be listed in the stock market on Thursday i.e. 8 December 2022.

Face value of shares Rs 10

According to the upper price of the price band, at least Rs 14220 will have to be spent. The face value of the shares is Rs.10. Fresh equity shares worth Rs 216 crore will be issued by the company. Along with this, the promoters will sell 14.83 lakh equity shares under Offer for Sale (OFS).

what does the company do

The company exports a wide range of agro chemical formulations like Insecticides, Fungicides, Herbicides, Plant Growth Regulators, Micro Fertilizers and Antibiotics to 25 countries. In the financial year 2021-22, the company’s profit has increased by 37 percent to Rs 28.69 crore.

Its revenue also increased by 30 percent on an annual basis to Rs 394.2 crore. In the first quarter of this financial year, the company’s revenue was Rs 220.9 crore and profit was Rs 18.4 crore. Investors should look at the fundamentals of the company rather than GMP.

read this also- UPI Payment: What to do if money is transferred to the wrong account while doing UPI! This is how you can get refund

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