Dhanlaxmi Crop Science Ltd Set for SME IPO, Targets Rs23.80 Crore Fundraising

Dhanlaxmi Crop Science Ltd, a leading seed company serving Indian farmers since 2005, is launching its SME IPO to raise Rs23.80 crore. The IPO, priced between Rs52 and Rs55 per share, opens from December 9 to December 11, 2024, and aims to support working capital and corporate purposes.

Dhanlaxmi Crop Science Ltd, renowned for its technology-driven seed solutions, has announced the launch of its SME Initial Public Offering (IPO). Established in 2005, the company specializes in hybrid and open-pollinated seeds catering to Indian farmers, enhancing crop yield and quality across diverse agro-climatic conditions.

The IPO is slated to open on December 9 and close on December 11, 2024, with shares priced in a range of Rs52 to Rs55 each. This strategic move aims to garner Rs23.80 crore through the issuance of 43.28 lakh new shares, which will soon be available on the NSE SME platform on December 16, 2024. Finshore Management Services Limited is serving as the book-running lead manager, while Bigshare Services Pvt Ltd handles the registrar duties.

Funds from the IPO will address working capital needs and general corporate expenses. With a vibrant revenue report of Rs11,996.26 lakhs for HY1 FY25 and a net profit of Rs820.81 lakhs, Dhanlaxmi Crop Science continues to impress with a Return on Capital Employed of 39.07% and a Return on Equity of 33.82%. The company leverages both traditional and biotechnological methods to advance its seed offerings, ensuring higher yields and greater resistance to pests and diseases.

(With inputs from agencies.)