Dharmaj Crop Guard IPO
Dharmaj Crop Guard Limited (DHARMAJ) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 08 December 2022.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +15.6% (likely range +12% to +35%), day's high +24.1%, chance of a gain 97%. Actual: +12.3% at the open, +17.7% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 22,43,990 | 10,81,90,140 | 48.2x | |
| NII (HNI) total | 17,14,200 | 8,96,35,200 | 52.3x | |
| Big NII (above ₹10 lakh) | 11,42,800 | 6,05,34,660 | 53.0x | |
| Small NII (₹2-10 lakh) | 5,71,400 | 2,91,00,540 | 50.9x | |
| Retail | 39,99,800 | 8,61,21,360 | 21.5x | |
| Employees | 55,000 | 4,11,660 | 7.48x | |
| Total | 80,12,990 | 28,43,58,360 | 35.5x |
Bids on NSE and BSE together, as published by NSE, as of 30 Nov 2022, 07:00 PM. Shares offered exclude the anchor portion. 26% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Dharmaj Crop Guard's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Shankara Building ProductsMar 2017 | 51.6x | 90.7x | 15.3x | 41.9x | ₹349 Cr | +20.7% | +38.3% |
| RailTel Corporation of IndiaFeb 2021 | 65.1x | 73.3x | 16.8x | 42.4x | ₹820 Cr | +16.0% | +36.0% |
| India PesticidesJun 2021 | 42.9x | 51.9x | 11.3x | 29.0x | ₹817 Cr | +18.2% | +24.3% |
| Dodla DairyJun 2021 | 84.9x | 73.3x | 11.3x | 45.6x | ₹520 Cr | +28.5% | +52.3% |
| Electronics Mart IndiaOct 2022 | 62.3x | 24.5x | 12.8x | 29.4x | ₹527 Cr | +52.5% | +54.2% |
| Neogen ChemicalsApr 2019 | 30.5x | 114x | 16.1x | 41.2x | ₹133 Cr | +16.7% | +22.6% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Elara Capital (India) | 5 | +11.8% | 60% |
| Monarch Networth Capital | 6 | +23.6% | 67% |
Offer documents (NSE)
Frequently asked
What is the Dharmaj Crop Guard IPO price band and lot size? ₹216–237 per share, with a lot of 60 shares, so the smallest retail bid is ₹14,220.
How many times has it been subscribed? 35.5x overall: QIB 48.2x, NII 52.3x, retail 21.5x, employees 7.48x.
How did it list? It opened at ₹266, +12.3% against the issue price of ₹237, and closed its first day +12.4%.
