Dhanlaxmi Crop Science IPO
Open SmeCurrent GMP
₹50 (+90.91%)
Price Band
₹ 52 – 55
Lot Size
2000
Issue Size
₹23.8 Cr
Minimum Investment
₹220000 (4000 Shares)
Listing Date
16 December 2024
Subscription
567.96x
About the Company
Dhanlaxmi Crop Science Ltd., initially incorporated as "Dhanlaxmi Agrichem Private Limited" in 2005, underwent a name change to its current form in 2023 after converting into a public company. The company has over 18 years of experience in the Indian seed industry, specializing in the development, production, and sale of hybrid and open-pollinated seeds for field crops and vegetables. It integrates traditional breeding with biotechnology to offer high-yielding, pest-resistant seeds suitable for diverse agro-climatic conditions across India.
Business and Product Portfolio Dhanlaxmi produces seeds for 24 field crops and vegetables, including cotton, wheat, cumin, maize, okra, soyabean, and many others. Cotton seeds contribute the majority of the company’s revenue (around 64-76% over the last three fiscal years). The company’s R&D efforts focus on hybrid seed development, with several successful products such as cotton hybrids like Advance, Agniveer, and Dhanvarsha. By 2024, Dhanlaxmi had filed multiple applications under the Protection of Plant Varieties and Farmers' Rights (PPV & FR) Act.
Operations and Infrastructure As of 2024, Dhanlaxmi operates in 5 states and produces 1,296 MT of raw seeds annually. It owns a processing facility in Gujarat with a capacity of 7.3 MT per hour and has access to large storage areas, including temperature-controlled spaces. The company also works with over 45 seed growers and 1,185 dealers across key states such as Gujarat, Rajasthan, and Maharashtra.
Competitive Advantages
- Integrated Seed Processing: Dhanlaxmi’s processing unit, equipped with seed sorting and packing machinery, is integrated with warehousing to ensure efficient seed storage and meet seasonal demand.
- Wide Product Range and Quality: The company offers a broad portfolio of high-quality seeds, treating them with chemicals to enhance consistency and yield.
- Research & Development: Dhanlaxmi invests heavily in R&D with a dedicated team and facilities, including 16 acres of farmland for breeding high-performance hybrid seeds.
- Brand Recognition: With over 20 years in the market, the brand “DHANLAXMI” is recognized for quality, fostering strong relationships with farmers and ensuring repeat business.
- Experienced Management: The promoters, Mr. Kamlesh Patel and Mr. Alpesh Patel, bring over 25 years of experience in the seed industry, providing strategic direction and expertise in daily operations.
Financial Performance Dhanlaxmi has shown strong financial growth with a consistent increase in total income, EBITDA, and net profit. In FY 2024, the company generated a total income of ₹6,375.08 Lakhs, with a net profit of ₹465.36 Lakhs. Its Return on Net Worth for FY 2024 was 28.87%.
Quality Assurance The company is committed to delivering quality products, certified under ISO 9001:2015 for the production and marketing of agricultural seeds. Quality control measures are in place to ensure that products consistently meet high standards.
In summary, Dhanlaxmi Crop Science Ltd. is a well-established, technology-driven company in the Indian seed industry, with a strong product portfolio, a dedicated R&D focus, and robust operational capabilities. Its experienced leadership and solid financial performance position it well for continued growth and success in the market.
Promoters
- Mr. Kamleshkumar Jayantilal Patel
- Mr. Alpeshbhai Jayantibhai Patel
- Mr. Meet Kamleshkumar Patel
Promoters Holding
Holding Pre Issue
76.70%
Holding Post Issue
56.37%
Objects of the Issue
The Objects of the Issue are:
- To meet Working Capital Requirements
- To meet the Issue Expenses
- General Corporate Purposes
Address / Contact Info
Dhanlaxmi Crop Science Ltd
Survey No. 24, Opp. Arts and Commence
College, Shamlaji High Way, N.H. No.8,
Motipura, Sabar Kantha, Himatnagar,
Gujarat - 383001
Phone: +91 27 7224 4033
Email: cs@dhanlaxmiseeds.com
Website: https://dhanlaxmiseeds.com/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Monday, 09 December 2024
IPO Close Date
Wednesday, 11 December 2024
Basis of Allotment
Thursday, 12 December 2024
Initiation of Refunds
Friday, 13 December 2024
Credit of Shares to Demat
Friday, 13 December 2024
Listing Date
Monday, 16 December 2024 — NSE & BSE
Important Dates
Open Date
09 December 2024
Close Date
11 December 2024
Basis Of Allotment
12 December 2024
Listing Date
16 December 2024
Financial Performance (₹ in Crores)
| Particular | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 5137.91 | 3496.15 | 2002.73 | 2086.33 |
| Revenue | 11996.26 | 6375.08 | 4664.17 | 3543.08 |
| Profit After Tax | 820.81 | 465.36 | 299.55 | 58.28 |
| Net Worth | 2432.3 | 1612.07 | 1139.63 | 617.26 |
| Reserve & Surplus | 1232.3 | 712.07 | 739.63 | 439.76 |
| Total Borrowings | 768.61 | 104.24 | 258.32 | 913.16 |
EPS Pre
3.88%
EPS Post
10.05%
P/E Pre
14.18
P/E (Post Issue)
5.47x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | KPI as of March 31, 2024. |
|---|---|
| ROE % | 33.82 |
| ROCE % | 39.07 |
| Debt / Equity | 0.06 |
| RoNW % | 28.87 |
| PbW | 3.07 |
| Pat Margin % | 7.3 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Anchor Investors | 1158000 | 26.76 | 0 |
| Market Maker | 218000 | 5.04 | 0 |
| Qualified Institutions | 772000 | 17.84 | 0 |
| Non-Institutional | 658000 | 15.2 | 0 |
| Retail Investors | 1522000 | 35.17 | 0 |
| Total | 4328000 | 100 | 0 |
Subscription Status ( Wed, 11 Dec 24 01:16 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 772000 | 152582000 | 197.65x |
| Non-Institutional | 658000 | 819250000 | 1245.06x |
| Retail Investors | 1522000 | 704792000 | 463.07x |
| Total | 2952000 | 1676624000 | 567.96x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
No Peer Comparision Available
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | 110,000.00 |
| Retail (Max) | 1 | 2,000 | 110,000.00 |
| S-HNI (Min) | 2 | 4,000 | 220,000.00 |
Registrar
Bigshare Services Pvt Ltd
91-22-6263 8200
investor@bigshareonline.com
https://www.bigshareonline.com
Book Running Lead Managers
- Finshore Management Services Limited
RHP Document
DRHP Document
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Dhanlaxmi Crop Science IPO is a Book-building IPO worth ₹23.8 crores. The price band is ₹52 to 55 per share. The IPO opens on Mon, Dec 9, 2024 and closes on Wed, Dec 11, 2024. It will be listed on BSE and NSE. Bigshare Services Pvt Ltd is the registrar.
The Dhanlaxmi Crop Science IPO opens on Mon, Dec 9, 2024 and closes on Wed, Dec 11, 2024
Dhanlaxmi Crop Science IPO Price Band is ₹52 to 55.
Dhanlaxmi Crop Science IPO lot size is 2000, and the minimum amount required for application is ₹220000.
The minimum investment for Dhanlaxmi Crop Science IPO is approximately ₹220000 based on the upper price band.
To apply for the Dhanlaxmi Crop Science IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Wed, Dec 11, 2024. After submission, funds are blocked until the basis of allotment of Dhanlaxmi Crop Science IPO is finalised.
Dhanlaxmi Crop Science IPO issue size is ₹23.8 crores.
Dhanlaxmi Crop Science IPO allotment date is Sat, Jun 27, 2026.
The registrar for Dhanlaxmi Crop Science IPO is Bigshare Services Pvt Ltd. Investors can go to Bigshare Services Pvt Ltd website for IPO allotment status, refund processing, and other queries related to Dhanlaxmi Crop Science IPO through their official website or helpline.
The Dhanlaxmi Crop Science IPO GMP (Grey Market Premium) is ₹50 as of Mon, Dec 16, 2024. Based on the upper price band of ₹55 per share, the estimated Dhanlaxmi Crop Science IPO listing price is ₹105, indicating a potential listing gain of approximately 31% over the issue price.