Dhanwel Hybrid Seeds IPO
LISTEDSMEDHANWELListing Performance
▲ 0.00%
Issue Price
₹99
Listing Price
₹99
Listed On
26 Aug 2026
- Price Band
- ₹95 – ₹99
- Lot Size
- 1,200
- Lot Value
- ₹1,18,800
- Open Date
- 19 Aug19 Aug 2026
- Close Date
- 21 Aug21 Aug 2026
- Min Investment
- ₹1,18,800
About Dhanwel Hybrid Seeds
Dhanwel Hybrid Seeds Limited is engaged in the seed manufacturing business, covering the development, multiplication, processing, and supply of seeds for a range of field crops and vegetables. The company procures breeder and other genetic seed material from recognised agricultural institutions, government-supported research organisations, and the open market. Seed production is carried out through arrangements with seed-growing farmers, where the company provides seed material, cultivation protocols, and technical supervision, while monitoring crop quality through its agronomists and field staff. After harvest, seeds undergo cleaning, grading, treatment, quality checks, packing, and storage at the company’s processing facility in Jamnagar, Gujarat. The company also procures seeds directly from farmers and the open market when required and processes them before sale. Operating in a single business segment, it generates revenue from the sale of seeds marketed under the “Dhanwel Seeds” brand and follows an integrated approach encompassing sourcing, production, quality control, and distribution.
The company processes and distributes seeds across multiple field crops and vegetables through dealers, distributors, and farmers.
Use of IPO Proceeds
Total allocation: ₹19.20 Cr (excludes issue expenses)
Promoters
Kishankumar Gordhanbhai Meghani
Chairman and Managing Director · age 33
Over 6 years of experience in the agriculture and Seeds industry.
Bachelor of Engineering (B. Eng) in Information Technology from Gujarat Technological University
Pre-issue: 14.27% · Post-issue: 6.46%
Vimal Mansukhbhai Vekariya
Whole-time Director
Sudhir Mohanbhai Pipaliya
Non-Executive Director
Nikul Mansukhbhai Vekariya
Post-issue: 0.63%
Investment Analysis
Quick Analysis: 5 strengths · 5 risk factors· Exchange: BSE SME
Strengths (5)
- •Operates an integrated seed business covering sourcing, production, processing, quality control, and distribution.
- •Works with experienced agronomists, field staff, and technicians to maintain seed quality standards.
- •Uses contract seed-growing farmers while also sourcing from farmers and the open market, providing procurement flexibility.
- •Has a dedicated seed processing facility in Jamnagar equipped for cleaning, grading, treatment, packing, and storage.
- •Markets its products under the “Dhanwel Seeds” brand and holds ISO 9001:2015 certification.
Risk Factors (5)
- •A significant portion of revenue is generated from a limited number of customers.
- •A significant portion of purchases is sourced from a limited number of suppliers.
- •The business is exposed to inflation, which can increase raw material and labour costs.
- •Seed production depends on contract farmers and agricultural cultivation activities.
- •The company operates in a competitive seed industry with several established players.
Demand snapshot
Subscription and grey market data as reported. Not a recommendation.
- Subscribed 1.62x (QIB 1.00x, NII 0.31x, Retail 3.08x) at close
Investor Quota
Approx. shares reserved per category
Estimated from total issue size; actual reserved lots are set in the RHP.
Application Lot Sizes
Retail caps at ₹2,00,000 (1 lots here). S-HNI is ₹2L–₹10L, B-HNI is above ₹10L.
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,200 | ₹1,18,800 |
| Retail (max) | 1 | 1,200 | ₹1,18,800 |
| S-HNI (min) | 2 | 2,400 | ₹2,37,600 |
| S-HNI (max) | 8 | 9,600 | ₹9,50,400 |
| B-HNI (min) | 9 | 10,800 | ₹10,69,200 |
Subscription Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | — | — | 1.00x |
| sNII (S-HNI) | — | — | — |
| bNII (B-HNI) | — | — | — |
| Retail | 0.16x | 1.41x | 3.08x |
| Total | 0.08x | 0.71x | 1.62x |
Colour: red <1x · amber 1–10x · green ≥10x oversubscribed.
Allotment Statistics
Retail Individual Investors (RII)
Subscription
3.08x
Allotment Ratio
1 lot per 4 applicants
Allotment Probability
~32.5%
Non-Institutional Investors (NII / HNI)
Subscription
0.31x
Allotment Type
Proportionate allotment
Qualified Institutional Buyers (QIB)
Subscription
1.00x
Allotment Type
Discretionary allotment
Total Subscription
1.62x
Allotment probability is estimated based on subscription data and is not guaranteed. Actual allotment depends on the registrar's process.
Basis of Allotment
Category-wise subscription & allotment ratio
Weigh your chances
IPO Timeline
Issue Opens
24 Jun 2026 · Wed
Issue Closes
29 Jun 2026 · Mon
UPI Deadline
29 Jun 2026 · Mon
Allotment
30 Jun 2026 · Tue
Refund
01 Jul 2026 · Wed
Share Credit
01 Jul 2026 · Wed
Listing
02 Jul 2026 · Thu
Issue Opens
24 Jun 2026 · Wed
Issue Closes
29 Jun 2026 · Mon
UPI Deadline
29 Jun 2026 · Mon
Allotment
30 Jun 2026 · Tue
Refund
01 Jul 2026 · Wed
Share Credit
01 Jul 2026 · Wed
Listing
02 Jul 2026 · Thu
IPO Details
| Registrar | Cameo Corporate Services Limited |
| Exchange | BSE SME |
| ISIN | — |
| Face Value | ₹10 |
| Issue Size | ₹26.73 Cr |
| Fresh Issue | — |
| OFS Size | — |
| Lead Managers | Wealth Mine Networks Limited |
3-Year Financial Summary
Revenue trend
↑ FY24→FY25
| Fiscal Year | Revenue (₹Cr) | PAT (₹Cr) | EPS | P/E | ROE |
|---|---|---|---|---|---|
| FY25 | 44.13 | 2.16 | 9.56 | — | 31.11% |
| FY24 | 35.49 | 1.91 | — | — | — |
Detailed Line Items (₹ Cr)
| Line Item | FY24 | FY25 |
|---|---|---|
| Total Income | 35.49 | 44.13 |
| EBITDA | 2.79 | 3.66 |
| Net Worth | 3.65 | 13.27 |
| Total Borrowings | 1.94 | 5.97 |
| Cash Flow — Operating | — | -6.06 |
From the company's offer document (DRHP/RHP); restated figures where available.
Valuation at Issue Price
Issue P/E
10.4x
Price ÷ EPS
EPS (FY25)
₹10
Earnings per share
RoNW
31.11%
Return on net worth
ROCE
49.36%
as reported in filing
EBITDA margin
8.3%
EBITDA ÷ revenue
Price/NAV
3.22x
Price ÷ NAV (as reported)
Check the valuation yourself
Company Fundamentals
11 sections extracted from this filingCapital Structure
| Authorised Capital | ₹95.00 Cr |
| Issued Capital | ₹6.40 Cr |
| Paid-up Capital | — |
| Equity Shares (Pre-Issue) | 42,38,551 |
| Equity Shares (Post-Issue) | 64,03,320 |
Source: Dhanwel Hybrid Seeds offer document (DRHP/RHP).
Shareholding Pattern
Pre-Issue
Pre-Issue not disclosed in this filing.Not separately disclosed in Dhanwel Hybrid Seeds's filing.
Post-Issue
Post-Issue not disclosed in this filing.Not separately disclosed in Dhanwel Hybrid Seeds's filing.
Source: Dhanwel Hybrid Seeds offer document (DRHP/RHP).
Reservations & OFS
Investor Reservation
- QIB+50.00%
- NII / HNI+15.00%
- Retail+35.00%
OFS Selling Shareholders
No offer-for-sale component (or sellers not disclosed).
Source: Dhanwel Hybrid Seeds offer document (DRHP/RHP).
Board & Management
Board of Directors (5)
- Mr. Kishankumar Gordhanbhai Meghani₹0.12 Cr p.a.
Chairman and Managing Director
Bachelor of Engineering (B. Eng) in Information Technology from Gujarat Technological University
Over 6 years of experience in the agriculture and Seeds industry
- Mr. Vimal Mansukhbhai Vekariya₹0.12 Cr p.a.
Whole-time Director
Second Year of a Bachelor of Commerce (S.Y. B.com) from Saurashtra University
Over 6 years of experience in the agriculture and Seeds industry
- Mr. Sudhir Mohanbhai Pipaliya₹0.12 Cr p.a.
Non-Executive Director
Bachelor of Commerce from Saurashtra University
Over 6 years of experience in the agriculture and Seeds industry
- Mr. Nikunj Mansukhlal Suvagiya
Non-Executive Independent Director
Bachelor of Pharmacy (B. Pharma) from Saurashtra University
More than Fourteen years in the field of Pharmacy Industry
- Ms. Keshvi Akshay Barasiya
Non-Executive Independent Director
Master of Commerce (M. Com) from Saurashtra University
More than Two years of experience in the field of Finance and Accounting
Key Managerial Personnel (2)
- Ms. Dixita Rajendrasinh Chauhan
Chief Financial Officer
B.com, PGDBA - Finance
- Ms. Parul Agarwal
Company Secretary and Compliance Officer
Source: Dhanwel Hybrid Seeds offer document (DRHP/RHP).
Industry & Market
Industry figures as stated in Dhanwel Hybrid Seeds's offer document.
Peer Comparison
| Company | P/E | EPS | RoNW % | NAV |
|---|---|---|---|---|
| Dhanwel Hybrid Seeds Limited | — | 9.56 | 31.11 | 30.7 |
Material Litigation
| Type | Against | Matters | Amount (₹Cr) |
|---|---|---|---|
| Tax | Company | 1 | — |
Dhanwel Hybrid Seeds Limited has one outstanding direct tax matter: the Income Tax Officer issued communications (dated 24/07/2025 and 03/09/2025) directing the company to provide information on share issuance and file Statement of Financial Transactions returns for 2023-24; the company has submitted its reply and the matter remains pending awaiting the department's response. There are no other material litigations involving the company, its promoters, directors, or key managerial personnel.
Registrar (RTA)
SEBI-registered Registrar & Transfer Agent — handles allotment and refunds.
Registrar:Cameo Corporate Services Limited→Lead Managers (BRLMs)
Click any merchant banker for their full IPO track record (positive listing rate, average gain, IPOs managed).
Documents
Frequently Asked Questions
When is the Dhanwel Hybrid Seeds IPO opening?
The Dhanwel Hybrid Seeds IPO opens on 19 Aug 2026 and closes on 21 Aug 2026. Check this page for the latest updates as we refresh every 30 minutes.
What is the price band of the Dhanwel Hybrid Seeds IPO?
The price band for the Dhanwel Hybrid Seeds IPO is ₹95 to ₹99. The final price is announced after the book-building process and is confirmed before listing.
What is the lot size and minimum investment for the Dhanwel Hybrid Seeds IPO?
The minimum lot size is 1200 shares with a minimum investment of ₹1,18,800. Retail investors can apply for up to the retail limit defined by SEBI.
What is the GMP of Dhanwel Hybrid Seeds IPO today?
The latest Grey Market Premium for Dhanwel Hybrid Seeds is ₹1 (+1.01%). GMP is unofficial data and is not a guarantee of listing price.
When will the Dhanwel Hybrid Seeds IPO list on NSE and BSE?
The Dhanwel Hybrid Seeds IPO is expected to list on 26 Aug 2026 on BSE SME. Actual listing day trading begins at the start of the normal market session.
How can I check the Dhanwel Hybrid Seeds IPO allotment status?
The registrar for this IPO is Cameo Corporate Services Limited. You can check your allotment status on the registrar's portal using your PAN, application number, or DP ID. We link to the registrar directly on our allotment page after the allotment date.
Is the Dhanwel Hybrid Seeds IPO a mainboard or SME issue?
Dhanwel Hybrid Seeds is a SME IPO that will list on the NSE Emerge or BSE SME platform. SME IPOs require a minimum application value of one lakh rupees.
How do I apply for the Dhanwel Hybrid Seeds IPO?
You can apply for the Dhanwel Hybrid Seeds IPO through any SEBI-registered broker such as Zerodha, Upstox, or Angel One using UPI or ASBA while the issue is open for bidding.
What is the GMP-implied price of Dhanwel Hybrid Seeds IPO?
The GMP-implied price (unofficial, not a forecast) is ₹100: the upper price band of ₹99 plus the latest grey market premium of ₹1, as of 28 Sep 2026, 01:01 PM IST. GMP is unofficial grey market data, and the actual listing price can differ from it.
What is the allotment ratio for Dhanwel Hybrid Seeds IPO?
Based on the retail subscription of 3.08x, the estimated allotment ratio is 1 lot per 4 applicants (approximately 32.5% chance of allotment). This is an estimate and actual allotment may vary.
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