The Dharmaj Crop Guard IPO, which was sold in the Rs 216-237 range, was a hit among investors, as the issue received 35.49 times bids, led largely by strong participation from HNIs and qualified institutional buyers (QIBs)
Its price range was Rs 216-237 a share. Dharmaj Crop has raised Rs 74.95 crore from anchor investors, including Elara India Opportunities Fund, Rajasthan Global Securities and Resonance Opportunities Fund.
Dharmaj Crop Guard IPO: The quota for qualified institutional buyers (QIBs) got subscribed 76 per cent, while the category for non-institutional investors witnessed 8.74 times subscription. The portion for retail individual investors (RIIs) received 7.75 times subscription and that for employees got subscribed 3.75 times.
Dharmaj Crop Guard IPO: Market participants said Dharmaj Crop IPO grey market premium (GMP) was seen around Rs 48. It implies that the grey market expected the company to list around Rs 285 (Rs 237 + Rs 48), which is more than 20 per cent higher than the IPO's upper band price of Rs 237 per equity share.