ENA MSME 2024-12-16 17:01:47 <p><span style="font-size:14px"><strong>New Delhi, Dec 16 (KNN)</strong> Dhanlaxmi Crop Science made a notable market entry on December 16, experiencing a remarkable 90 percent premium on the NSE Emerge platform following an exceptionally oversubscribed initial public offering (IPO).</span></p> <p><span style="font-size:14px">The company's shares are listed at Rs 104.50, significantly above its issue price of Rs 55, reflecting robust investor confidence in the agricultural seed specialist.</span></p> <p><span style="font-size:14px">The IPO, which raised Rs 23.80 crore, garnered extraordinary market interest with over 500 times subscription, demonstrating substantial investor appetite. </span></p> <p><span style="font-size:14px">The original price band for the SME (Small and Medium Enterprises) issue was set between Rs 52-55 per share, with each lot comprising 2,000 shares.</span></p> <p><span style="font-size:14px">Prior to listing, the grey market had already indicated strong investor sentiment, with Dhanlaxmi Crop Science IPO shares attracting approximately a 90 percent premium over the upper price band.</span></p> <p><span style="font-size:14px">Established in 2005 and headquartered in Gujarat, Dhanlaxmi Crop Science has developed a diverse agricultural portfolio spanning five states. </span></p> <p><span style="font-size:14px">The company produces and markets 24 different field crops and vegetable seeds, including cotton, wheat, bajra, maize, gram, soyabean, mustard, groundnut, guar, castor, sesame, and coriander.</span></p> <p><span style="font-size:14px">The company's revenue structure is notably concentrated, with cotton seeds dominating its financial performance. Cotton seeds contributed 95.6 percent of revenue in the first half of fiscal year 2025 and 76.8 percent in fiscal year 2024. </span></p> <p><span style="font-size:14px">The proceeds from the IPO will be allocated to working capital requirements, offer expenses, and general corporate purposes.</span></p> <p><span style="font-size:14px">The successful listing underscores the continued investor interest in agricultural technology and seed production sectors, particularly for companies demonstrating specialised market positioning and growth potential.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 40271 https://knnindia.co.in/news/newsdetails/msme/dhanlaxmi-crop-science-ipo-debuts-with-90-pc-premium-on-nse-emerge 2024-12-16 17:01:47 knnindia.co.in