Dhanlaxmi Crop Science IPO Allotment Status - Check Steps, Subscription Status & Company Overview

Gujarat-based high-quality agricultural seeds production and distribution company Dhanlaxmi Crop Science’s IPO was open for subscription from December 9 to December 11, and the allotment is scheduled for today, December 12, 2024.  

Dhanlaxmi Crop Science IPO Details

• Dhanlaxmi Crop Science IPO is a book-built issue of Rs 23.80 crores, entirely a fresh issue of 43.28 lakh shares.
• Dhanlaxmi Crop Science IPO bidding started on December 9, 2024, and ended on December 11, 2024. 
• The allotment for the Dhanlaxmi Crop Science IPO is expected to be finalized today, December 12, 2024. 
• Dhanlaxmi Crop Science IPO will be listed on NSE SME, with a tentative listing date of Monday, December 16, 2024.
• Dhanlaxmi Crop Science IPO price band is set at ₹52 to ₹55 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹110,000. The minimum lot size investment for HNI is 2 lots (4,000 shares), amounting to ₹220,000.

Checking the Dhanlaxmi Crop Science IPO Allotment Status

Steps to Check Allotment Status on NSE

1. Open the Application Status page of NSE here.
2. Select Equity under the issue type.
3. Select 'Dhanlaxmi Crop Science' under the issue name.
4. Enter your IPO application number or PAN details.
5. Check the 'I am not a Robot' box.
6. Click on the Search button to check the details of the allotment status.

Steps to Check Allotment Status on Skyline Financial Services

1. Go to the official website of the registrar Skyline Financial Services Pvt. Ltd. here.
2. Under the Check Application Status dropdown menu, select 'Dhanlaxmi Crop Science'
3. Choose from DPID/Client ID, Application Number, or PAN.
4. Enter the details as per your selection.
5. Click on Search to view the allotment status.

Dhanlaxmi Crop Science Ltd Overview

Dhanlaxmi Crop Science Limited is a Gujarat-based company specializing in the production and distribution of high-quality agricultural seeds. 

Founded in 2005, the company has over 18 years of experience in the Indian seed industry, focusing on both hybrid and open-pollinated seed varieties tailored to various agro-climatic regions across India. 

Its product portfolio includes seeds for 24 field crops and vegetables, such as cotton, wheat, maize, mustard, and okra, with a significant emphasis on cotton seeds, which contribute substantially to its revenue.

The sale of cotton seeds accounts for the major portion of the operating profit and contributed 76.78%, 71.47%, and 64.73% to the operating profit in FY 2024, FY 2023, and FY 2022, respectively.

Dhanlaxmi Crop Science Ltd IPO Day 3 Subscription Status 

(December 11, 2024, End of Day) 

On the third day of bidding, the Dhanlaxmi Crop Science IPO achieved a subscription rate of 555.83 times the total shares on offer. 

• The Non-Institutional Investors (NIIs) showed exceptional interest, subscribing 1241.27 times their designated quota. 
• The Retail Investors segment also garnered huge participation, with subscriptions soaring to 441.18 times their allocation. 
• Meanwhile, the Qualified Institutional Buyers (QIBs) recorded a subscription level of 197.65 times.

Utilization of IPO Proceeds

The IPO proceeds will be allocated to the following strategic initiatives:

• Working Capital: The business model is working capital intensive. Hence, bulk of the proceed will go into meeting working capital requirements. 
• Fundraising and Placement Costs: Cover expenses related to fundraising and placements. 
• General Corporate Purposes: Allocate funds for general corporate requirements.

Disclaimer: Investing in SME IPOs involves a high degree of risk. Such investments may be suitable only for investors with a high-risk tolerance and the ability to bear potential losses. Perform thorough due diligence and consult a financial advisor before investing. Invest wisely and at your own discretion.