Dharmaj Crop Guard IPO subscribed over 5x on strong retail, HNI interest

The two categories were subscribed around 7 times each; QIB was nearly half covered

Dharmaj Crop Guard IPO was subscribed more than five times on Tuesday, a day before its close. 

The retail and high networth individual categories of the IPO were subscribed around seven times each. The institutional investor portion was nearly half covered, stock exchange data showed. 

Dharmaj, an agrochemical company, is looking to raise Rs 216 crore in fresh capital through its IPO. The issue also consists of a secondary share sale worth Rs 35 crore.