Dhanlaxmi Crop Science IPO Details
The Dhanlaxmi Crop Science Limited IPO is set to raise ₹23.80 crores by offering a fresh issue of 43.28 lakh equity shares at a price band of ₹52 to ₹55 per share. This book-built issue offers retail investors the opportunity to invest in the agricultural seed company, which focuses on fulfilling the diverse needs of Indian farmers across various agro-climatic regions.

IPO Dates and Details

• The subscription period for the Dhanlaxmi Crop Science IPO started on December 9, 2024 and is scheduled to close on December 11, 2024.
• The allotment of shares is expected to be finalized by December 12, 2024, with the listing of shares on the NSE SME expected on December 16, 2024.
• The lot size for the IPO is 2,000 shares, meaning retail investors will need to invest a minimum of ₹1,10,000 to apply, while High Net-Worth Individuals (HNIs) must invest in at least 2 lots (₹2,20,000).

Dhanlaxmi Crop Science IPO Subscription and Grey Market Premium

As of December 10, 2024, the Dhanlaxmi Crop Science IPO has been subscribed 26.83 times, reflecting high demand from investors. The Grey Market Premium (GMP) for the IPO has risen to ₹16, signaling strong investor sentiment, with expected listing gains of 29.55% from the upper price band of ₹55. The GMP trend has been steadily increasing, with an expected listing price of ₹121 based on the latest updates.

Financial Performance and Use of Proceeds

The company intends to utilize the proceeds from the fresh issue for several key purposes:

• ₹2,005.77 lakhs will be used to meet its working capital requirements, which will help the company manage the ongoing demands of production and distribution of agricultural seeds.
• A portion will also be used to cover the issue expenses associated with the IPO.
• The remaining funds will be allocated to general corporate purposes to support further growth and expansion efforts.

Company Overview

Dhanlaxmi Crop Science Limited was founded with the mission to address the specific agricultural needs of Indian farmers by conducting extensive research and development to produce high-quality agricultural seeds. The company operates from its well-established research and development infrastructure in Himatnagar, Gujarat, and offers a wide range of seeds suitable for various agro-climatic regions in India.

Anchor Investors and Market Sentiment

The Dhanlaxmi Crop Science IPO has also raised ₹6.37 crore from anchor investors at the upper price band of ₹55 per share, further reinforcing the IPO’s market credibility. The company allocated 11,58,000 equity shares to the anchor investors. This portion is often seen as a sign of confidence in the company’s growth prospects, particularly as the IPO progresses through its subscription phase.

IPO Allotment Process

The Dhanlaxmi Crop Science IPO allotment is expected to be finalized on December 12, 2024, with investors able to check their allotment status online. Here’s how investors can check the allotment status:

• Visit the Registrar’s website for the IPO.
• Select Dhanlaxmi Crop Science Limited from the IPO list.
• Enter the application number, PAN, or DP Client ID to check the allotment status.

Conclusion

With Dhanlaxmi Crop Science Limited IPO already oversubscribed by over 26 times, the company appears poised to generate strong investor interest as it progresses toward listing. The IPO offers retail investors an opportunity to invest in a growing company focused on India’s agricultural sector, which continues to be crucial to the country’s economy. The strong subscription numbers, coupled with the rising GMP, indicate positive sentiment in the market for this issue.

The Upcoming IPOs in this week and coming weeks are Sai Life Sciences, Mobikwik, Vishal Mega Mart, Supreme Facility, Purple United, Yash Highvoltage, International Gemmological, Inventurus Knowledge, Rosmerta Digital and Avanse Financial.The Current active IPO is and Jungle Camps, Toss The Coin and Dhanlaxmi Corp.For more details on upcoming IPOs, you can visit our page at Best IPO to Apply Now - IPO List 2024, Latest IPO, Upcoming IPO, Recent IPO News, Live IPO GMP Today - Finance Saathi and stay updated with the latest news on IPO updates on Top News Headlines - Share Market News, Latest IPO News, Business News, Economy News - Finance Saathi.Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst & Finance Saathi Telegram Channel for Regular Share Market, News & IPO Updates. Start your Stock Market Journey and Apply in IPO by opening a Free Demat Account in Choice Broking FinX.