Dhanlaxmi Crop Science IPO Closed
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Schedule of Dhanlaxmi Crop Science
| Issue open date | 09 Dec 2024 |
| Issue close date | 11 Dec 2024 |
| UPI mandate deadline | 11 Dec 2024 (5 PM) |
| Allotment finalization | 12 Dec 2024 |
| Refund initiation | 13 Dec 2024 |
| Share credit | 13 Dec 2024 |
| Listing date | 16 Dec 2024 |
| Mandate end date | 26 Dec 2024 |
| Lock-in end date for anchor investors (50%) | 11 Jan 2025 |
| Lock-in end date for anchor investors (remaining) | 12 Mar 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Dhanlaxmi Crop Science
Incorporated in 2005, Dhanlaxmi Crop Science Limited develops, produces, processes, and sells seeds for field crops and vegetables. The company combines traditional breeding techniques with biotechnology to produce hybrid and open-pollinated seeds tailored for diverse agroclimatic conditions. Its product portfolio includes cotton, wheat, cumin, and various vegetables. With operations spanning five states, 1,185 authorized dealers, and processing facilities in Gujarat, the company produced 725 MT of raw seeds as of September 2024.
Financials of Dhanlaxmi Crop Science
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹23.8 crores |
| Fresh Issue | ₹23.8 crores |
| Offer for Sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Working Capital Requirements | 20.06 (84.2%) |
| General corporate purposes | 3.74 (15.8%) |
Strengths
- Integrated seed processing with warehousing for efficient distribution.
- Diverse seed portfolio for major Indian crops with consistent quality.
- Advanced R&D with 16 acres of farmland and lab facilities.
- Experienced management driving operational excellence.
- Strong customer relationships with high repeat orders.
Risks
- Reliance on third-party farmers for seed production may disrupt operations.
- Legal proceedings involving the company and its stakeholders may affect operations.
- High dependence on cotton seeds increases revenue concentration risks.
- Government pricing controls on cotton seeds restrict profitability.
- Heavy reliance on unsecured loans from related parties poses financial risks.
- Seasonal fluctuations in demand create revenue unpredictability and operational challenges.