Tue Dec 10 09:52:29 UTC 2024: **Ahmedabad-based Seed Company Dhanlaxmi Crop Science Launches IPO**
AHMEDABAD, INDIA (December 9, 2024) – Dhanlaxmi Crop Science Limited, a technology-driven seed company serving Indian farmers since 2005, is launching its Initial Public Offering (IPO) on December 9th, 2024. The company aims to raise Rs 23.80 crore (approximately $2.9 million USD) by issuing 43.28 lakh new shares at a price band of Rs 52 to Rs 55 per share. The IPO will close on December 11th, with shares listed on the NSE SME platform on December 16th.
Finshore Management Services Limited is the book-running lead manager, and Bigshare Services Pvt Ltd is the registrar. The IPO allocation is divided as follows: 50% for Qualified Institutional Buyers (QIBs), 35% for retail investors, and 15% for Non-Institutional Investors (NIIs). The minimum investment for retail investors is Rs 1,10,000 (2,000 shares), while High Net Worth Individuals (HNIs) must invest a minimum of Rs 2,20,000 (4,000 shares).
The company, which reported revenue of Rs 11,996.26 lakhs and a net profit of Rs 820.81 lakhs in the first half of fiscal year 2025, uses a blend of traditional and biotechnological methods to produce high-yield, high-quality seeds. Their product portfolio includes over 24 seed varieties for various crops and vegetables, distributed through a network of 1,185 authorized dealers across four Indian states. Proceeds from the IPO will be used for working capital and general corporate purposes. Share allotment is expected on December 12th, with credit to demat accounts on December 13th.
First Piper 