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
- Open the Application Status page of NSE here.
- Select Equity under the issue type.
- Select 'Dhanlaxmi Crop Science' under the issue name.
- Enter your IPO application number or PAN details.
- Check the 'I am not a Robot' box.
- Click on the Search button to check the details of the allotment status.
Steps to Check Allotment Status on Skyline Financial Services
- Go to the official website of the registrar Skyline Financial Services Pvt. Ltd. here.
- Under the Check Application Status dropdown menu, select 'Dhanlaxmi Crop Science'
- Choose from DPID/Client ID, Application Number, or PAN.
- Enter the details as per your selection.
- 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.