Dharmaj Crop Guard IPO will open for subscription from 28 November 2022. the company aims for an issue size of ₹251.15 Cr through this IPO.
Dharmaj Crop Guard Limited
The agrochemical company is engaged in 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 farmers to assist them to maximize productivity and profitability. It exports products to over 25 countries in Latin America, East African Countries, the Middle East, and Far East Asia.
The company has over 150 trademark registrations including its branded products. As of August 31, 2022, it had over 118 branded formulations that are sold to farmers, and it had more than 219 institutional products that are sold to more than 600 customers based in
India and in the international markets. Its manufacturing facility is located in Ahmedabad, Gujarat, India. Dharmaj Crop Guard Limited also has a research and development (“R&D”) center at the manufacturing facility.
Basic details about the company
| Full name | Dharmaj Crop Guard Limited |
| Sector | chemicals |
| Industry | Pesticides & Agrochemicals |
| Company Website | https://www.dharmajcrop.com/ |
Objects of the Issue
- Funding incremental working capital requirements of the Company.
- Funding capital expenditure towards setting up a manufacturing facility at Saykha, Bharuch, Gujarat.
- Repayment and/or pre-payment, in full and/or part, of certain borrowings of the Company.
- General corporate purposes.
Major Competitive strengths
- The company has over 150 trademark registrations including its branded products.
- It exports products to more than 20 countries in Latin America, East African Countries, the Middle East, and Far East Asia.
- Strong management team.
- Global business presence.
Dates to remember
| IPO Opening date | 28 November 2022 |
| IPO Closing | 30 November 2022 |
| Basis of Allotment | 05 December 2022 |
| Initiation Refund | 06 December 2022 |
| Credit to Demat Account | 06 December 2022 |
| Listing Date | 08 December 2022 |
Dharmaj Crop Guard IPO Details
| IPO Date | Nov 28, 2022 to Nov 30, 2022 |
| Face Value | ₹10 per share |
| Price | ₹216 to ₹237 per share |
| Lot Size | 60 Shares |
| Issue Size | 10,596,924 shares of ₹10 (aggregating up to ₹251.15 Cr) |
| Fresh Issue | 9,113,924 shares of ₹10 (aggregating up to ₹216.00 Cr) |
| Offer for Sale | 1,483,000 shares of ₹10 (aggregating up to ₹35.15 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Dharmaj Crop Guard IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 60 | ₹14,220 |
| Retail (Max) | 14 | 840 | ₹199,080 |
| S-HNI (Min) | 15 | 900 | ₹213,300 |
| B-HNI (Min) | 71 | 4,260 | ₹1,009,620 |
Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Dharmaj Crop Guard Financial Performance
| FY 2020 | FY 2021 | FY 2022 | |
| Revenue | 199.2 | 303.6 | 396.3 |
| Expenses | 184.7 | 275.4 | 357.8 |
| Net income | 10.7 | 20.9 | 28.7 |
| Margin (%) | 5.4 | 6.9 | 7.2 |
Dharmaj Crop Guard Valuations & Margins
| FY 2019 | FY 2020 | FY 2021 | FY 2022 | |
| EPS | 5.02 | 8.62 | 12.74 | 11.62 |
| PE ratio | – | – | – | 18.59 – 20.40 |
| RONW (%) | 48.03 | 30.55 | 37.33 | 34.64 |
| NAV | 6.97 | 18.82 | 22.75 | 33.55 |
| ROCE (%) | 28.25 | 28.76 | 34.50 | 32.87 |
| EBITDA (%) | 7.90 | 9.37 | 10.59 | 11.72 |
| Debt/Equity | 1.93 | 0.57 | 0.48 | 0.43 |
Company Promoters
- Rameshbhai Ravajibhai Talavia
- Jamankumar Hansarajbhai Talavia
- Jagdishbhai Ravjibhai Savaliya
- Vishal Domadia
Dharmaj Crop Guard IPO Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 73.03% |
Lead Manager(s)
- Elara Capital (India) Private
- Monarch Networth Capital Ltd
Dharmaj Crop Guard Offer Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai – 400 083, Maharashtra
Phone: +91 22 4918 6200
Email: dharmaj.crop@linkintime.co.in
Website: www.linkintime.co.in
Dharmaj Crop Guard Contact Details
DHARMAJ CROP GUARD LIMITED
Office No. 901 to 903 and 911
B-square 2, Iscon Ambli Road
Ahmedabad – 380 058, Gujarat
Phone: +91-79-29603735
E-mail: cs@dharmajcrop.com
Website: www.dharmajcrop.com
Dharmaj Crop Guard IPO Allotment Status
Dharmaj Crop Guard IPO allotment status will be available on Link Intime’s website.
Click on this link to get allotment status.
Final thoughts
Dharmaj Crop Guard IPO is going to hit Dalal street soon. applying for IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
