Dhanlaxmi Crop Science made a strong debut on the NSE Emerge platform on December 16, 2024, listing at ₹104.50 per share, a remarkable 90% premium over its issue price of ₹55. The company’s SME IPO, which raised ₹23.80 crore, saw an oversubscription of over 500 times, reflecting robust investor interest.
The issue price was in the range of ₹52-₹55 per share, with a lot size of 2,000 shares. In the grey market, Dhanlaxmi Crop IPO shares were trading at a 90% premium over the upper price band, according to Investorgain’s data. This unofficial market trading indicates strong demand ahead of the official listing.
Company Overview
Dhanlaxmi Crop Science, based in Gujarat and incorporated in 2005, operates in five states and produces 24 different field crops and vegetables, including cotton, wheat, maize, soybean, and mustard. The funds raised from the IPO will be used for working capital needs, offer expenses, and general corporate purposes.
Cotton seeds have been the company’s largest revenue driver, contributing 95.6% of its income in the first half of FY25, and 76.8% in FY24.
This stellar listing is a positive sign for the company as it continues to expand its footprint in the agricultural sector.
