Dhanlaxmi Crop Science IPO: Shares to debut today. Here's what GMP indicates

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The shares of Dhanlaxmi Crop Science will debut on the NSE SME platform on Monday. Ahead of the listing, the company's shares were trading with a GMP of Rs 50 in the grey market.

Considering the upper price band of Rs 55, the stock is expected to list with maximum gains of 90% over issue price.


However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly.

The net proceeds from the public offer will be used for working capital requirements, issue expenses and general corporate purposes.


The IPO, which was completely a fresh equity sale of 43.28 lakh shares, received overwhelming response from investors with a subscription of 550 times at close.

Dhanlaxmi Crop Science is a technology driven seeds company that develops, produces, processes and sells seeds for a range of field crops and vegetables, have more than 18 years of experience in the Indian seeds industry.Also Read: IPO Calendar: 4 new issues, 9 listings to watch out for this week as 2024 draws to a close

The company integrates traditional breeding techniques with biotechnology tools and seeks to produce hybrid and open pollinated variety field crops and vegetable seeds that deliver higher yields, enhanced product quality and higher levels of pest and disease tolerance over naturally occurring varieties.

Its seeds are suitable for varying agro climatic conditions, such as water availability, crop duration and soil attributes, across different geographic regions in India.

Dhanlaxmi produced seeds for 24 different field crops and vegetables and had operations in 5 states across India, as of September 2024. The sale of cotton seeds contributes the majority of its revenue from operations, making up 95.64% of revenue in the period ended September 2024.

The company's product portfolio includes field crop and vegetable seeds for Cotton, Wheat, Cumin, Bajra, Maize, Gram, Okra, Green Gram, SSG, Soyabean etc.

For the period ended September 2024, the company clocked total revenues of Rs 119 crore and net profit of Rs 8.2 crore.

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