Dharmaj Crop Guard IPO GMP History
Dharmaj Crop Guard IPO has been listed on December 8, 2022 at a listing price of ₹266.05, against the issue price of ₹237 — a gain of ₹29.05 (+12.26%). The GMP peaked at ₹70 on 28 November 2022 and reached a low of ₹20 on 23 November 2022. The day-wise GMP trend below shows how grey market sentiment evolved from subscription to listing.
Dharmaj Crop Guard IPO raised ₹251.09 Cr. through its IPO at a price band of ₹216 to ₹237 per share, with a lot size of 60 shares. The IPO was open for subscription from 28 Nov 2022 to 30 Nov 2022.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
GMP trend
Grey market premium sampled three times a day (11 AM, 5 PM, 10 PM). Last updated 10 Nov, 11:41 AM IST.
Day-wise GMP
The last reading of each day, newest first. Arrows compare with the previous day.
| Date | GMP | ↑↓ | % | Kostak | Sub. Sauda |
|---|---|---|---|---|---|
| 07 Dec 2022 | ₹ 50 | — | 21% | — | — |
| 06 Dec 2022 | ₹ 50 | — | 21% | — | — |
| 05 Dec 2022 | ₹ 50 | — | 21% | — | — |
| 03 Dec 2022 | ₹ 50 | — | 21% | — | — |
| 02 Dec 2022 | ₹ 50 | — | 21% | — | — |
| 01 Dec 2022 | ₹ 50 | — | 21% | — | — |
| 30 Nov 2022 | ₹ 50 | ▼ | 21% | — | — |
| 29 Nov 2022 | ₹ 60 | ▼ | 25% | — | — |
| 28 Nov 2022 | ₹ 70 | ▲ | 30% | — | — |
| 25 Nov 2022 | ₹ 40 | — | 17% | — | — |
| 24 Nov 2022 | ₹ 40 | ▲ | 17% | — | — |
| 23 Nov 2022 | ₹ 20 | — | 8% | — | — |
Dharmaj Crop Guard IPO dates
Key dates from opening to listing. Today is 11 November.
- Open 28 Nov 2022
- Close 30 Nov 2022
- Allotment 05 Dec 2022
- Refund/credit 06 Dec 2022
- Listing 08 Dec 2022
Dharmaj Crop Guard IPO actual listing price
How the grey market's final call compared with the listing-day open.
| Issue price | ₹237 |
|---|---|
| GMP-based estimate (pre-listing) | ₹287 (+21.1%) |
| Listing gain / loss | +₹29.05 per share |
| Listing date | 08 Dec, 2022 |
| Actual listing price | ₹266.05 (+12.26%) |
Is Dharmaj Crop Guard IPO GMP reliable?
Grey market premium for Dharmaj Crop Guard IPO should be interpreted with caution. The GMP is an unregulated, unofficial market not governed by SEBI. Here's how to read the current signal:
- 01Subscription rate matters: A high GMP paired with strong subscription — especially QIB (Qualified Institutional Buyer) oversubscription — is a more reliable bullish signal than GMP alone. Read our in-depth analysis: GMP vs Subscription Data — Which Predicts Listing Gains Better?
- 02Timing matters: GMP in the first 1–2 days of subscription is less reliable. GMP on the final subscription day and the day before listing tends to be the most accurate predictor.
- 03Grey market is thin: For smaller IPOs, even a handful of large orders can swing the GMP significantly. Treat low-volume GMP signals with extra caution.
- 04Cross-check before acting: Review the Dharmaj Crop Guard IPO full review for a fundamentals-based assessment before making any grey market trades.
Dharmaj Crop Guard IPO Kostak rate explained
Two ways the grey market trades an IPO application before listing.
The Kostak rate for Dharmaj Crop Guard IPO was not available during the subscription period. Kostak is the fixed amount a grey market buyer pays for an IPO application regardless of allotment outcome.
The Subject to Sauda price was not available for this IPO. Subject to Sauda only applies if allotment is confirmed — the buyer pays a premium on top of the issue price per lot allotted.
Grey market trading is unofficial and unregulated by SEBI. Proceed with full awareness of the associated risks.
About Dharmaj Crop Guard IPO
Dharmaj Crop Guard Limited was incorporated at Ahmedabad on 19 January 2015. It makes, distributes and markets agrochemical formulations such as insecticides, fungicides, herbicides, plant growth regulators, micro fertilisers and antibiotics for B2C and B2B customers.
It sells products under in-licensed brands, its own brands and generic brands to Indian farmers through its distribution network, and exports to more than 25 countries in Latin America, East Africa, the Middle East and the Far East. It also makes general insect and pest control chemicals for public health and animal health.
Its manufacturing facility and R&D centre are in Ahmedabad, Gujarat. As per the RHP, it had obtained 464 registrations for agrochemical formulations from the CIB&RC.
The IPO was Rs 251.09 crore, with Rs 215.95 crore of fresh issue and Rs 35.14 crore of offer for sale by promoter group members. Rs 104.97 crore was planned for a new plant at Saykha, Bharuch, Gujarat, and Rs 45.00 crore for working capital.
Frequently asked
What is the GMP of Dharmaj Crop Guard IPO?
The current Grey Market Premium (GMP) of Dharmaj Crop Guard IPO is ₹ 50.
What is the Kostak Price of Dharmaj Crop Guard IPO?
Kostak rate is the profit made by selling an IPO application before allotment. The current Kostak rate for Dharmaj Crop Guard IPO is not available.
What is the Subject to Sauda Price of Dharmaj Crop Guard IPO?
Subject to Sauda is the premium amount decided if the allotment is confirmed. The current Subject to Sauda rate is not available.
What was the actual listing price of Dharmaj Crop Guard IPO?
Dharmaj Crop Guard IPO listed on December 8, 2022 at ₹266.05, against the issue price of ₹237 — a gain of +12.26%.
How did the GMP of Dharmaj Crop Guard IPO trend before listing?
The GMP of Dharmaj Crop Guard IPO was stable in its final days before listing. The GMP peaked at ₹70 on 28 November 2022. View the day-wise table above for the complete GMP history.
Explore Dharmaj Crop Guard IPO further
The grey market is one signal. Read it alongside the demand, the reviews and the filings before you decide.
It has listed — go back to the fundamentals.
Category-wise demand from QIB, NII and retail investors, updated through the day.
What brokers and analysts are saying about this issue, in one place.
Check with your PAN whether shares were credited to your demat account.
The grey market called it. Now check the fundamentals.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Read the grey market alongside the subscription book and the offer document before you apply.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
