Dhanlaxmi Crop Science shares made a powerful debut on December 16, 2024, listing at ₹104.5 on the NSE SME platform, marking a 90% increase from the IPO issue price of ₹55.
The company raised ₹23.80 crore through its SME initial public offering (IPO), which was open from December 9 to December 11, 2024. The IPO attracted massive demand, with 555.83 times the shares being subscribed. Retail investors, in particular, were highly interested, with their segment being subscribed 441.18 times.
Dhanlaxmi Crop Science issued 43.28 lakh fresh shares in the IPO, and there was no offer for sale (OFS). Post-IPO, the promoter’s stake will reduce from 76.7% to 56.3%. The company raised ₹6.37 crore from anchor investors prior to the offering. The IPO proceeds will be used to meet working capital needs, cover issue expenses, and fund general corporate purposes.
Founded in 2005, Dhanlaxmi Crop Science focuses on producing seeds for a variety of field crops and vegetables, blending traditional breeding methods with biotechnological tools. Cotton seeds are a major contributor to its profits. The company operates across five states and offers 24 types of seeds. Its revenue grew by 37%, and profit after tax (PAT) increased by 55% in FY 2024 compared to FY 2023.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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