Dhanwel Hybrid Seeds IPO
smelistedAbout the company
Incorporated in 2024, Dhanwel Hybrid Seeds operates in the area of seed production. The company manufactures seeds for different types of crops, such as field crops and vegetables, and sells these products to farmers after being multiplied, processed, conditioned, and packaged. Dhanwel sources its seed supply from a variety of channels to ensure that there is a sufficient supply of seeds available to its customers. The company has a contract farming program through which farmers enter into agreements with it to grow and deliver its seed products. Additionally, it sources seeds from farmers directly and/or from markets as needed. Dhanwel's product mix includes oil seeds, pulses, spices, sesame seeds, green grams, black grams, and wheat seeds. In FY26 the company added flowers and fertilisers to its line-up to widen its product offerings. It has also launched its own wheat seed varieties under the Dhanwel-777 and LOK-1 brands as part of its continuing emphasis on developing products and adding value. Oil seeds are the company's largest single source of revenue, accounting for 56.6% of the total revenue in FY26, 55.4% of FY25 revenue and 65.39% of FY24 revenue. By far the majority of revenue derived from oil seeds in FY26 was generated from groundnut seeds, whereas pulses (primarily soybean) accounted for 20.9% of total revenue in FY26. The spices segment experienced the greatest growth of all Dhanwel's segments. The contribution of the spices segment to total revenue was 12.09% in FY26, compared to 3.53% in FY25. New flower and fertiliser products contributed 7.07% and 2.28% of FY26 revenue, respectively. The largest customer contributed 27.7% of total revenue in FY26, compared to 4.59% of total revenue in FY24. Similarly, three largest customers made up for 50.4% of total revenue in FY26, increasing from 10.4% of total revenue in FY24.
GMP trend (Grey Market Premium by date)
| Date | GMP (₹) | Est. Listing | Change |
|---|---|---|---|
| 21 Aug | ₹0 | ₹99 | -3 |
| 20 Aug | ₹3 | ₹102 | +1 |
| 19 Aug | ₹2 | ₹101 | +1 |
| 18 Aug | ₹1 | ₹100 | +1 |
| 17 Aug | ₹0 | ₹99 | 0 |
| 16 Aug | ₹0 | ₹99 | -2 |
| 15 Aug | ₹2 | ₹101 | 0 |
| 14 Aug | ₹2 | ₹101 | 0 |
Strengths
- Operates in the agricultural seeds sector with a focus on hybrid seed development and distribution.
- Benefits from increasing adoption of high-yield hybrid seeds by Indian farmers.
- Diverse product portfolio catering to multiple crops and agricultural segments.
- Established distribution and dealer network supporting market reach.
- Growth opportunities from rising demand for quality seeds and improved farm productivity.
- Focus on research and development to introduce new seed varieties.
- Presence in a sector supported by long-term agricultural growth and food security needs.
- Potential to benefit from government initiatives aimed at improving agricultural output.
Risks
- Business performance is highly dependent on weather conditions and monsoon patterns.
- Revenue may be affected by fluctuations in agricultural activity and crop cycles.
- Faces intense competition from established domestic and multinational seed companies.
- Regulatory changes related to seed approvals and agricultural policies could impact operations.
- Dependence on successful development and acceptance of new seed varieties.
- Vulnerability to pest attacks, crop diseases, and environmental challenges.
- Concentration in the agriculture sector exposes the company to sector-specific risks.
- Raw material availability and pricing fluctuations may impact profitability.
Financial performance (₹ Cr)
Subscription breakup (final, times)
IPO Roadmap / Timeline
IPO Opens
Completed19 Aug 2026Bidding starts for all investor categories
IPO Closes
Completed21 Aug 2026Last day to place your bid
Basis of Allotment
Completed23 Aug 2026Share allotment finalised
Refund Initiation
Completed24 Aug 2026Refunds credited for non-allottees
Credit to Demat
Completed25 Aug 2026Allotted shares credited to demat account
Listing on Exchange
Completed26 Aug 2026Shares list on NSE / BSE
Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.
Lot size & minimum investment
| Investor Type | Min Lots | Min Shares | Min Amount | Max Lots | Max Amount | Notes |
|---|---|---|---|---|---|---|
| Retail / Individual | 1 | 1200 | ₹118,800 | 1 | ₹118,800 | 1 lot only |
| HNI | 2 | 2400 | ₹237,600 | 2 | ₹237,600 | Min 2 lots |
Shares reserved per category & allotment probability
| Category | Reservation | Shares Offered | Amount (₹ Cr) | Shares Bid | Subscribed | Allotment % |
|---|---|---|---|---|---|---|
| QIB | 50% | 1,391,753 | 13.5 | 0 | 0.00x | 100% |
| NII | 15% | 417,526 | 4.05 | 25,052 | 0.06x | 100% |
| Retail | 35% | 974,227 | 9.45 | 155,876 | 0.16x | 100% |
Retail is a lottery-based allotment when oversubscribed; QIB/NII get pro-rata. Probability ≈ 1 / subscription times (100% if under-subscribed).
Date-wise daily subscription (all categories)
| Date / Day | Retail (x) | QIB (x) | NII (x) | EMP (x) | OTHER (x) | Total (x) | Total |
|---|---|---|---|---|---|---|---|
19 Aug Day 1 | 0.03x | 0.00x | 0.01x | 0.00x | 0.00x | 0.02x | 0.06x |
20 Aug Day 2 | 0.09x | 0.00x | 0.03x | 0.00x | 0.00x | 0.08x | 0.20x |
21 Aug Day 3 | 0.16x | 0.00x | 0.06x | 0.00x | 0.00x | 0.13x | 0.35x |
Date-wise cumulative subscription figures per category, refreshed each bidding day.