IPO Details

Bidding Dates

09 Dec '24 - 11 Dec '24

Minimum Investment

₹1,10,000 / 1 Lot (2,000 Shares)

Price Range

₹52 - ₹55

Maximum Investment

₹1,10,000 / 1 Lot (2,000 Shares)

Retail Discount

To be announced

Issue Size

₹23.80 crore

Investor category and sub category

Retail Individual Investors (RII)  |   Non-institutional Investors (NII)  |   Qualified Institutional Buyers (QIB)  |  

Dhanlaxmi Crop Science IPO Dates

Important dates with respect to IPO allotment and listing

Opening Date

Dec 9, 2024

Closing Date

Dec 11, 2024

Basis of Allotment

Dec 12, 2024

Initiation of Refunds

Dec 13, 2024

Listing Date

Dec 16, 2024

Dhanlaxmi Crop Science IPO Subscription Details

DateQIBNIIRetailTotal

Day 1Dec 9, 2024

 1.32 13.22 30.44 18.98

Day 2Dec 10, 2024

 1.35 64.22 102.05 67.28

Day 3Dec 11, 2024

 197.65 1,241.27 441.18 555.83

About Dhanlaxmi Crop Science IPO

Dhanlaxmi Crop Science IPO is set to open for subscription on December 9, 2024, and close on December 11, 2024. This IPO is a book-built issue worth ₹23.80 crore, comprising a fresh issue of 43.28 lakh shares. The price band for the IPO is ₹52 to ₹55 per share, and it will be listed on the NSE SME platform.

Investors can apply for a minimum lot size of 2,000 shares, requiring an investment of ₹1,10,000 for retail participants. High Net Worth Individuals (HNIs) can invest in a minimum of two lots, which amounts to ₹2,20,000.

The allotment of shares is expected to be finalised on December 12, 2024, with a tentative listing date of December 16, 2024. Finshore Management Services Limited is the lead manager for the issue, and Bigshare Services Pvt Ltd is the registrar. The market maker for this IPO is Mnm Stock Broking.

For comprehensive details about the company and the offering, it is recommended to refer to the Red Herring Prospectus (RHP) of Dhanlaxmi Crop Science IPO.

Industry Outlook

  1. Agriculture accounts for nearly one-third of India’s GDP and employs around 55% of the population. Foodgrain production for 2023-24 (Kharif) is estimated at 148.5 million tonnes, reflecting the sector's resilience and growth.
  2. India's food processing sector is projected to grow significantly, with output expected to reach $535 billion by 2025-26, generating 9 million jobs by 2024. The packaged and ready-to-eat food segments are also poised for substantial growth.

Dhanlaxmi Crop Science IPO Objectives 

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. The funds will support day-to-day operational requirements, ensuring smooth business operations and uninterrupted supply of resources.
  2. A portion of the proceeds will be utilised to manage expenses associated with the IPO process.
  3. The remaining funds will be allocated towards general corporate purposes.

About Dhanlaxmi Crop Science Limited 

Dhanlaxmi Crop Science Limited, originally incorporated as Dhanlaxmi Agrichem Private Limited in 2005, is a prominent player in India’s seed industry. Renamed as Dhanlaxmi Crop Science Private Limited in 2007 and later converted into a public limited company in 2023, the company leverages over 18 years of expertise in developing, producing, and marketing seeds for field crops and vegetables.

The company employs advanced biotechnology alongside traditional breeding techniques to create hybrid and open-pollinated seeds with higher yields, improved quality, and better resistance to pests and diseases. With a robust product portfolio spanning cotton, wheat, cumin, maize, gram, and more, the company tailors seeds to diverse agro-climatic conditions across India.

Cotton seeds dominate the company’s revenue, contributing significantly over the years, complemented by increasing sales of vegetable and other field crop seeds. Dhanlaxmi Crop Science boasts advanced R&D facilities, having filed 5 applications under the PPV & FR Act and successfully developing hybrid cotton seeds like Advance and Agniveer.

By September 2024, the company produced 725 MT of raw seeds, operated processing facilities in Gujarat with a 7.3 MT/hour capacity, and managed extensive storage solutions. Its distribution network includes 1,185 dealers and distributors across Gujarat, Rajasthan, Haryana, and Maharashtra, enabling efficient delivery and meeting diverse customer needs.

Peer Details

According to RHP, the following are the listed peers of Dhanlaxmi Crop Science Limited:

  1. Mangalam Seeds Limited
  2. Upsurge Seeds of Agriculture Limited

How To Check the Allotment Status of the Dhanlaxmi Crop Science IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app.
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

How to apply for Dhanlaxmi Crop Science IPO online?

  1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
  2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
  3. Select IPO: Find and select the Dhanlaxmi Crop Science IPO from the list of open IPOs.
  4. Enter the Lot Size: Specify the number of lots you want to bid for.
  5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
  6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Contact Details of Dhanlaxmi Crop Science IPO 

Registered office: Survey No. 24, Opp. Arts and Commence College, Shamlaji High Way, N.H. No.8, Motipura, Sabar Kantha, Himatnagar, Gujarat - 383001, India 

Phone: 027 7224 4033

E-mail: cs@dhanlaxmiseeds.com 

Dhanlaxmi Crop Science IPO Reservation

The Dhanlaxmi Crop Science IPO comprises 43,28,000 shares divided across various investor categories as follows:

Investor Category

Shares Allocated

Percentage of Total

Anchor Investors

11,58,000 shares

26.76%

Market Makers

2,18,000 shares

5.04%

Qualified Institutional Buyers (QIB)

7,72,000 shares

17.84%

Non-Institutional Investors (NII/HNI)

6,58,000 shares

15.2%

Retail Individual Investors (RII)

15,22,000 shares

35.17%

Total Shares Offered

43,28,000 shares

100%

Dhanlaxmi Crop Science IPO Lot Size

Application

Lots

Shares

Amount

Retail (Min)

1

2,000

₹1,10,000

Retail (Max)

1

2,000

₹1,10,000

HNI (Min)

2

4,000

₹2,20,000

Dhanlaxmi Crop Science IPO Promoter Holding

The company is promoted by Mr. Kamleshkumar Jayantilal Patel, Mr. Alpeshbhai Jayantibhai Patel, and Mr. Meet Kamleshkumar Patel.

Share Holding Pre-Issue

76.70%

Share Holding Post Issue

56.37%

Key Performance Indicators for Dhanlaxmi Crop Science IPO

The Dhanlaxmi Crop Science IPO has a market capitalisation of ₹89.8 crore as of March 31, 2024.

KPI

Value

ROE

33.82%

ROCE

39.07%

Debt/Equity

0.06

RoNW

28.87%

P/BV

3.07

PAT Margin (%)

7.3

Dhanlaxmi Crop Science IPO Anchor Investor Information

The Dhanlaxmi Crop Science IPO secured ₹6.37 crore through anchor investors. Below are the details of the anchor investment:

Details

Information

Bid Date

December 6, 2024

Shares Offered

1,158,000

Anchor Portion Size (₹ in Crore)

6.37

Lock-in Period End Date (50% Shares)

January 11, 2025

Lock-in Period End Date (Remaining Shares)

March 12, 2025

Dhanlaxmi Crop Science IPO Prospectus

Dhanlaxmi Crop Science IPO Registrar and Lead Managers

Dhanlaxmi Crop Science IPO Lead Managers

Finshore Management Services Limited

Registrar for Dhanlaxmi Crop Science IPO

 Bigshare Services Pvt Ltd

  • Contact Number: +91-22-6263 8200
  • Email Address: investor@bigshareonline.com

Website: Dhanlaxmi Crop Science IPO Registrar

Financial Performance of Dhanlaxmi Crop Science Limited

Particulars Year ending on March 31, 2024 Year ending on March 31, 2023 Year ending on March 31, 2022
Revenue from Operation (in ₹ lakh) 6,371.03 4,661.07 3,543.06
Profit After Tax (PAT) (in ₹ lakh) 465.36 299.55 58.28
Total Borrowings (in ₹ lakh) 104.24 258.32 913.16
Net Worth (in ₹ lakh) 1,612.07 1,139.63 617.26
Return on Capital Employed(%) 39.07 31.52 11.96
Return on Equity (%) 33.82 34.10 9.84
Debt/ Equity (x) 0.06 0.23 1.48
Earning Per Share (EPS)-in absolute ₹ 5.17 16.22 3.28

Know before investing

Strengths

12

  1. Extensive seed processing unit with integrated warehousing facilities.

  2. Over 20 years of brand recognition among Indian farmers.

  3. Diverse seed portfolio includes cotton, maize, wheat, cumin, bajra.

  4. Strong R&D infrastructure with 16 acres of farmland.

  5. ISO 9001:2015 certification ensures high product quality standards.

  6. Robust financial performance with ₹11,996.26 lakhs income (2024).

  7. Access to Bollgard II technology for genetically modified cotton.

  8. Wide distribution network across Tier-2 and Tier-3 cities.

  9. Proven track record with year-on-year revenue growth.

  10. Experienced promoters with over 25 years in the seed industry.

  11. Patented products secured under PPVFR regulations.

  12. Active marketing team enhances farmer-level product awareness.

Risks

11

  1. Pending legal proceedings may involve liabilities of ₹512.98 lakhs.

  2. Heavy dependence on cotton seeds contributing 95.64% of revenue (2024).

  3. High customer concentration with 76.76% revenue from one client.

  4. Negative cash flows recorded for September 2024 and prior years.

  5. Cotton seed prices subject to government-imposed pricing regulations.

  6. Seasonal nature of business causes unpredictable revenue fluctuations.

  7. Production heavily reliant on third-party Seed Growers/Organisers.

  8. Limited demand forecasting increases risks of overproduction or shortages.

  9. Limited farmer awareness affects hybrid seed adoption and sales.

  10. Missing educational certificates of directors raise governance concerns.

  11. ₹80 crore net negative cash flow over two fiscal years.

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Dhanlaxmi Crop Science IPO FAQs

What is the Dhanlaxmi Crop Science IPO?

Dhanlaxmi Crop Science IPO is a book-built issue IPO. It will be open from December 9, 2024, to December 11, 2024.

When will Dhanlaxmi Crop Science IPO be allotted?

The Basis of Allotment will happen on Thursday, December 12, 2024.

When will Dhanlaxmi Crop Science IPO open for subscription?

The IPO subscription window will open on December 9, 2024.

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 2,000 shares.

When will Dhanlaxmi Crop Science Limited list on exchanges?

The listing date for Dhanlaxmi Crop Science Limited is Monday, December 16, 2024.

What is the issue size of Dhanlaxmi Crop Science IPO?

The issue size of the Dhanlaxmi Crop Science IPO is up to ₹23.80 crore, with a complete fresh issue of ₹23.80 crore.

What are the open and close dates of the Dhanlaxmi Crop Science IPO?

The open and close dates for Dhanlaxmi Crop Science IPO are from December 9, 2024 to December 11, 2024.

What would be the listing gains on the Dhanlaxmi Crop Science IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

How to increase your chances of getting a Dhanlaxmi Crop Science IPO allotment?

  1. Multiple Submissions: Use different Demat accounts to make multiple applications.
  2. Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
  3. Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.

How do I approve the UPI mandate request for Dhanlaxmi Crop Science IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Dhanlaxmi Crop Science Limited using one PAN?

You can submit only one application using your PAN card.

How to read Dhanlaxmi Crop Science Limited's financial statements?

To read Dhanlaxmi Crop Science’s financial statements, download the IPO’s  RHP document.

What is 'pre-apply' for Dhanlaxmi Crop Science Limited IPO?

Pre-apply allows investors to apply for the  Dhanlaxmi Crop Science  IPO two days before the subscription period opens, ensuring an early submission of your application.

If I pre-apply for the Dhanlaxmi Crop Science Limited IPO, when will my order get placed?

Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours.

When will I know if my Dhanlaxmi Crop Science Limited IPO order is placed?

You will receive a notification once your order is successfully placed with the exchange after the bidding starts.

Who is the registrar of Dhanlaxmi Crop Science IPO?

Bigshare Services Pvt Ltd is the registrar responsible for managing the IPO allotment process and handling investor queries.

Where is the Dhanlaxmi Crop Science IPO getting listed?

Dhanlaxmi Crop Science Limited IPO is proposed to be listed on the SME platform of the National Stock Exchange (NSE).