Dharmaj Crop Guard Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹237
Per ShareLot Size
60 Shares
Minimum Investment
₹14,220
Issue Size
₹251.09 Cr
Face Value
₹10
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Dharmaj Crop Guard Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
77.2%
Issue Type
Book Building
ISIN
INE00OQ01016
About the Company
Dharmaj Crop Guard Limited is an agrochemical company engaged in the business of manufacturing, distributing, and marketing of a wide range of agro chemicals such as insecticides, fungicides, herbicides, plant growth regulator, micro fertilizers and antibiotic to the B2C and B2B customers. Within its differentiated business model, it provides agrochemical products and manufacturing services to multinational corporations. The Company also engages in the marketing and distribution of agrochemical products under brands in-licensed by the company, owned by the company and through generic brands, to Indian farmers through its distribution network. The Company exports its products to more than 25 countries in Latin America, East African Countries, Middle East and Far East Asia. The Company sells its agrochemical products in granules, powder and liquid forms to its customers. Additionally, it manufactures and sells general insect and pest control chemicals for Public Health protection. The company provides crop protection solutions to the farmer to assist them to maximize productivity and profitability.
Industry Overview
During the five-year period 2017-2021, the global pesticides market is estimated to have grown at a Compounded Annual Growth Rate (CAGR) of around 2.5% from USD 62 billion in 2017 to USD 68 billion in 2021. In the global agrochemicals market, India is the 4th largest producer led by USA, Japan and China. Also, India is a net exporter of agrochemicals and has emerged as the 13th largest exporter of pesticides globally. The Indian agrochemicals industry can be primarily divided into the following types: a. Insecticides b. Fungicides c. Herbicides. The overall Indian pesticides and other agrochemicals market grew at a CAGR of 4.5% from Rs.368 billion in 2013-14 to Rs.439 billion in 2017-18. The overall Indian pesticides and other agrochemicals industry is estimated to increase at a CAGR of 7.5%-8.5% by 2026-27 on account of an upward growth expected in the international market and a likely increase in domestic usage of pesticides in India.
Company History
Dharmaj Crop Guard Limited ("Company" or "Issuer") was incorporated on January 19, 2015, at Ahmedabad as a public limited company under the Companies Act, 2013 pursuant to a certificate of incorporation issued by the Registrar of Company, Gujarat at Ahmedabad ("RoC").
Products & Services
- The Company is an agrochemical company engaged in the business of manufacturing, dist., and mktg. of a wide range of agro chemicals such as insecticides, fungicides, herbicides, plant growth regulator, micro fertilizers & anti-biotic to B2C&B2B customers
Growth Strategy
- Enhance its manufacturing capabilities through backward integration and expand its product portfolio
- Targeting new customers, expanding existing customer business and increase its market share in domestic and international markets
- Expanding its Public Health and Animal Health product segment
- Strengthening up its business through effective branding, promotional and digital activities
Customer Base
Wholesalers and Retailers
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of 10,596,924^ equity shares of face value of Rs. 10 each ("Equity Shares") of the company for cash at a price of Rs. 237 per equity share, including a premium of Rs. 227 per equity share, (the "Offer Price"), aggregating to Rs. 251.09 crores^, comprising of a fresh issue of to 9,113,924^ equity shares aggregating to Rs. 215.95 crores^ by the company ("Fresh Issue") and an offer for sale of 709,500^ equity shares by Manjulaben Rameshbhai Talavia, 656,000^ equity shares by Muktaben Jamankumar Talavia, 87,500^ equity shares by Domadia Artiben and 30,000^ equity shares by Ilaben Jagdishbhai Savaliya (collectively, the "Selling Shareholders"), aggregating to 1,483,000^ equity shares ("Offered Shares") aggregating to Rs. 35.15 crores^ (the "Offer for Sale" and together with the fresh issue, the"Offer"). The offer includes a reservation of to 55,000^ equity shares aggregating to Rs. 1.25 crores^ for subscription by eligible employees (constituting 0.16% of the post-offer equity share capital of the company) (the "Employee Reservation Portion"). The offer less the employee reservation portion is hereinafter referred to as the "Net Offer". The offer and the net offer shall constitute 31.35% and 31.19%, respectively, of the post-offer paid-up equity share capital of the company. ^Subject to finalisation of the basis of allotment The face value of equity shares is Rs. 10 each. The offer price is 23.70 times the face value of the equity shares.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Diversified portfolio of its products and consistent focus on quality and innovation;
- Strong R&D capabilities with focus on innovation and sustainability;
- Established distribution network with strong branded products and stable relationship with its institutional customers;
- Experienced Promoters and management team;
- Track record of strong operational and financial performance.
- The company require certain approvals and licenses in the ordinary course of business, including certain registrations from the Central Insecticides Board and Registration Committee ("CIB&RC") for its agrochemicals and any failure to successfully obtain such registrations or maintain its statutory and regulatory permits and approvals required to operate its business and manufacturing facility would adversely affect its operations, results of operations and financial condition.
- The company is subject to strict technical specifications, quality requirements, regular inspections and audits by its customers and its failure to comply with the quality standards and technical specifications prescribed by such customers may lead to loss of business from such customers and could negatively impact its reputation, which would have an adverse impact on ths business prospects and results of operations.
- The company typically do not enter into long-term agreements with majority of its customers, which would have a material adverse effect on its business, results of operations and financial condition.
- Its inability to identify and understand evolving industry trends, technological advancements, customer preferences and develop new products to meet its customers' demands may adversely affect its business.
- Its business is subject to climatic conditions and is cyclical in nature. Seasonal variations and unfavourable local and global weather patterns may have an adverse effect on its business, results of operations and financial condition.