The issue also comprised of secondary share sale worth Rs 35 crore (Illustration: Binay Sinha)
').insertAfter(".article-content__img");$(".article-content__img div").find('div').remove();
Dharmaj Crop IPO Subscribed 36 Times; Promising Start For Uniparts
It raised Rs 216 crore by issuing fresh equity in the IPO
Topics
Agrochemicals | Agrochemical companies | IPOs
Dharmaj Crop Guard’s initial public offering (IPO) garnered nearly 36 times subscription as its bidding closed on Wednesday. The qualified institutional buyers (QIBs) portion was subscribed 48 times, high networth individual portion 52 times and retail portion nearly 22 times.
Dharmaj is an agrochemical company. It raised Rs 216 crore by issuing fresh equity in the IPO. The issue also comprised of secondary share sale worth Rs 35 crore. “If we annualise its four months’ FY23 EPS of Rs 7.44, then on the annualised FY23EPS of Rs 22.32, the issue is available at a P/E of 10.62x, which, compared to its peers, is cheap. Also, as per the prospectus, the valuation looks attractive, considering the average industry P/E of 24.04x,” KR Choksey Research had said in a note.
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
First Published: Wed, November 30 2022. 21:33 IST
RECENT NEWS
The Battle For Depositors: US Lenders Ramp Up Efforts Amidst Rate Uncertainty
In the competitive landscape of the US banking sector, retaining depositors is paramount for lenders seeking to maintain... Read more
Beyond Capital: Unveiling The Complexities Of Bank Failure Prediction
In the realm of banking, the ability to predict and prevent failures is paramount for financial stability and consumer c... Read more
Central Banks And The Economic Horizon: Steering Through Uncertaintie
In the evolving landscape of global financial markets, the strategic role of central banks has come under intense scruti... Read more
Transforming Financial Operations With Robotic Process Automation
Author: Ricardo Goulart ... Read more
The Role Of Machine Learning In Fraud Detection
Author: Gerardine Lucero  ... Read more
Principles Of Islamic Banking And Finance
When it comes to banking, a significant new contender has entered the ring. The principles of Islamic banking and financ... Read more