Tue Dec 10 09:52:29 UTC 2024: ## Dhanlaxmi Crop Science to Raise Rs 23.8 Crore Through SME IPO
**Ahmedabad, December 9, 2024** – Dhanlaxmi Crop Science Limited, a technology-driven seed company serving Indian farmers since 2005, is launching its Initial Public Offering (IPO) to raise Rs 23.80 crore. The IPO, priced between Rs 52 and Rs 55 per share, will open for subscription on December 9th and close on December 11th, 2024. The shares will be listed on the NSE SME platform on December 16th, 2024.
The company, which develops and supplies hybrid and open-pollinated seeds for various crops and vegetables, reported revenue of Rs 119.96 crore and a net profit of Rs 8.21 crore in the first half of fiscal year 2025. Dhanlaxmi boasts strong financial indicators, including a Return on Capital Employed (ROCE) of 39.07% and a Return on Equity (ROE) of 33.82%.
The IPO allocation will be 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 at least Rs 2,20,000 (4,000 shares).
Proceeds from the IPO will be used for working capital and general corporate purposes. Finshore Management Services Limited is the book-running lead manager, and Bigshare Services Pvt Ltd is the registrar. Share allotment is expected on December 12th, with credits to demat accounts on December 13th.
First Piper 