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Agrochem co Dharmaj Crop Guard files IPO papers to raise Rs.300-Cr

Economic Times  

Ahmedabad-based agrochemicals company Dharmaj Crop Guard Ltd has filed its draft red herring prospectus (DRHP) for an IPO to raise INR 300 crore. The issue consists of equity shares worth up to INR 216 crore with a face value of INR 10 each and an offer-for-sale (OFS) of up to 14.83 lakh equity shares by existing shareholders. Out of the proceeds from the fresh issuance, INR 105 crore will be used for funding capital expenditure towards setting up of a manufacturing facility at Saykha Bharuch, Gujarat, INR 45 crore for funding incremental working capital requirements, and INR 10 crore for the repayment or prepayment of borrowings, and for general corporate purposes.