Mar. 6, 2023
Dharmaj Crop Guard on last Thursday announced the introduction of two new products, one herbicide and one insecticide, in the domestic market under the brand names Dastan and Dharmaar.
Both products have been launched in the domestic markets on March 1. While Dastan has been introduced in the herbicide segment, the other brand Dharmaar is an insecticide product.
Dharmaj Crop Guard, a Gujarat-based manufacturer of agrochemicals, made its market debut in December 2022. The stock was listed on the bourses at Rs 266 per share, a premium of 12 percent to its issue price of Rs 237 per unit.
The company's Rs 251 crore IPO received an overall subscription of 35.49 times led mainly by institutional and non-institutional investors.
The qualified instructional buyer (QIB) portion was subscribed 48.2 times while the retail investors placed bids of 21.5 times higher than the original issue size on offer.
Dharmaj Crop is engaged in making, distributing, and marketing insecticides, fungicides, herbicides, plant growth regulators, micro fertilisers, and antibiotics. The company caters to both B2C and B2B segments. It exports products to over 25 countries.