Dharmaj Crop Guard raises Rs 75 crore via anchor book ahead of IPO

Agrochemical company Dharmaj Crop Guard on November 25 has mobilised Rs 74.95 crore via anchor book ahead of its initial public offering (IPO).

The company, in its BSE filing, said it has finalised allocation of 31.62 lakh equity shares to anchor investors, at Rs 237 per share.

Three investors - Elara India Opportunities Fund, Rajasthan Global Securities, and Resonance Opportunities Fund - invested in the company via anchor book.

Elara India Opportunities Fund bought shares worth Rs 34.94 crore, Rajasthan Global Securities purchased Rs 25 crore shares, and Resonance Opportunities Fund Rs 15 crore shares.

The initial public offering of Dharmaj Crop Guard will open for subscription on November 28 and the closing date will be November 30.

The company aims to mop up Rs 251 crore by issuing 1.05 crore shares at upper end of price band of Rs 216-237 per share.

The offer comprises a fresh issuance of shares worth Rs 216 crore and an offer for sale of Rs 35 crore by promoters.