Dhanlaxmi Crop Science IPO Day 2: Check subscription status, GMP & other key details | Stock Market News
Dhanlaxmi Crop Science IPO: The initial public offer (IPO) of Dhanlaxmi Crop Science opened for subscription on Monday, December 9 in the price band of ₹52 to ₹55 per share.
The three-day IPO of Dhanlaxmi Crop Science will close for subscription on Wednesday, December 11. The allotment date for Dhanlaxmi Crop Science IPO is likely to be Thursday, December 12, with the listing likely on the NSE SME platform.
Dhanlaxmi Crop Science IPO is entirely a fresh issue of 43.28 lakh shares, with the company looking to raise ₹23.80 crore at the upper price band. The company raised ₹6.37 crore from anchor investors ahead of the IPO opening on Friday, December 6.
The company plans to utilise the funds raised via the IPO to meet working capital requirements, issue expenses and for general corporate purposes.
Dhanlaxmi Crop Science IPO Subscription Status
Dhanlaxmi Crop Science IPO sailed through on the first day of the bidding process on Monday, December 9. As of 12.15 pm on the second day of the bidding, Dhanlaxmi Crop Science IPO was subscribed 31.81 times, with the retail portion booked the most.
In the retail category, Dhanlaxmi Crop Science IPO was oversubscribed by 50.80 times. In the non-institutional investor (NII) category, the offer was booked 23.67 times while the qualified institutional buyer (QIB) category garnered 1.32 times bids.
Dhanlaxmi Crop Science IPO GMP
The grey market premium or GMP for Dhanlaxmi Crop Science IPO stood at ₹28 on Tuesday, December 10. This means, Dhanlaxmi Crop Science shares are trading higher by ₹28 than their IPO price in the grey market.
As per the latest GMP, Dhanlaxmi Crop Science IPO shares could list at ₹83 or a premium of 51% over the IPO price of ₹55.
Dhanlaxmi Crop Science IPO Lot Size
The minimum lot size for an application is 2,000 shares, with a minimum investment of ₹110,000 required for retail investors. For high net-worth individuals (HNIs), the minimum lot size is 2 lots (4,000 shares), totalling ₹220,000.
About Dhanlaxmi Crop Science
Incorporated in 2005, Dhanlaxmi Crop Science is a technology-driven seeds company that develops, produces, processes and sells seeds for a range of field crops and vegetables. As of September 2024, the company produced seeds for 24 different field crops and vegetables, with operations in five states across India.
The company’s profit after tax (PAT) increased by 55% YoY to ₹465.36 lakhs in FY24 from ₹299.55 lakhs in FY23. Meanwhile, its total income rose 37% to ₹6,375 lakhs in FY24 from ₹4,664.17 crore in FY23.
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