Dhanwel Hybrid Seeds IPO
Updated 11 Sept 2026, 5:03 pm.
Minimum investment (Individual investors (IND))
₹2,37,600
2 lots · 2,400 shares at the upper price band
Price band
₹99
Latest GMP
Not yet quoted
Est. listing price
—
Issue size
₹25.38 Cr
GMP history
Each point is a recorded observation from the scheduled data sync.
GMP is an unofficial, unregulated grey-market estimate — not a prediction of listing performance.
Issue details
- Board
- SME
- Price band
- ₹99
- Issue size
- ₹25.38 Cr
- Lot size
- 1,200
- Opens
- 19 Aug 2026
- Closes
- 21 Aug 2026
- Allotment
- 24 Aug 2026
- Listing
- 26 Aug 2026
- Est. listing price
- —
- Listing price
- Awaited
- Listing gain
- Awaited
- Registrar
- Cameo Corporate Services Ltd.
- Minimum investment
- ₹2,37,600 (2 lots · 2,400 shares)
- Face value
- ₹10 per share
- Issue type
- Bookbuilding IPO
- Sale type
- Fresh capital only
- Listing at
- BSE SME
- Refunds
- 25 Aug 2026
- Shares credited
- 25 Aug 2026
- Promoter holding
- 49.94% before · 35.12% after
- Lead managers
- Wealth Mine Networks Ltd.
Offer documents & links
Subscription by category
As of 21 Aug 2026, 1:24 pm.
Total subscription
1.65x
Full issue details
Details as published for this issue, read 11 Sept 2026, 4:59 am. Verify against the RHP before applying.
IPO Details
| IPO Date | 19 to 21 Aug, 2026 |
|---|---|
| Listed on | Wed, Aug 26, 2026 |
| Face Value | ₹ 10 per share |
| Price Band | ₹95 to ₹99 |
| Issue Price | ₹99 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 27,00,000 shares (agg. up to ₹ 27 Cr) |
|---|---|
| Reserved for Market Maker | 1,36,800 shares (agg. up to ₹ 1 Cr) Aikyam Capital Pvt.Ltd. |
| Fresh Issue (Ex Market Maker) | 25,63,200 shares (agg. up to ₹ 25 Cr) |
| Net Offered to Public | 25,63,200 shares (agg. up to ₹ 25 Cr) |
| Share Holding Pre Issue | 64,03,320 shares |
| Share Holding Post Issue | 91,03,320 shares |
| BSE Script Code | 544884 |
| ISIN | INE0VWO01011 |
IPO Timetable
- IPO Open
- Wed, Aug 19, 2026
- IPO Close
- Fri, Aug 21, 2026
- Allotment
- Mon, Aug 24, 2026
- Refund
- Tue, Aug 25, 2026
- Credit of Shares
- Tue, Aug 25, 2026
- Listing
- Wed, Aug 26, 2026
Issue Reservation
| Investor Category | Shares | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB | 28,800 | 1.12% | 1.07% |
| NII (HNI) | 12,67,200 | 49.44% | 46.93% |
| − bNII > ₹10L | 8,44,800 | — | 31.29% |
| − sNII < ₹10L | 4,22,400 | — | 15.64% |
| Retail | 12,67,200 | 49.44% | 46.93% |
| Firm Reservations | |||
| Market Maker | 1,36,800 | — | 5.07% |
| Total | 27,00,000 | 100.00% | 100.00% |
Dhanwel Hybrid Seeds IPO comprises a total issue size of 27,00,000 shares. The net offer to the public is 25,63,200 shares, after excluding 1,36,800 shares allotted on a firm basis. Of the Net offer 28,800 (1.12%) are allocated to QIB , 12,67,200 (49.44%) allocated to NII 12,67,200 (49.44%) allocated to RII .
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (IND) (Min) | 2 | 2400 | ₹2,37,600 |
| Individual investors (IND) (Max) | 2 | 2400 | ₹2,37,600 |
| S-HNI (Min) | 3 | 3600 | ₹3,56,400 |
| S-HNI (Max) | 8 | 9600 | ₹9,50,400 |
| B-HNI (Min) | 9 | 10800 | ₹10,69,200 |
Investors can bid for a minimum of 2,400 shares and in multiples of 1,200 shares thereof.
IPO Subscription Details
About Dhanwel Hybrid Seeds Ltd.
Incorporated in 2018, Dhanwel Hybrid Seeds is engaged in the business of seed manufacturing and supply for various field crops and vegetables. It develops and produces quality seeds by sourcing improved genetic seed material from recognised institutions, research organisations, and the open market. Seed production is carried out through a well-planned process that includes cultivation, processing, quality control, and packaging.
Its products include Groundnut Seeds, Soybean Seeds, Gram Seeds, Sesame Seeds, Wheat seeds, Green Gram Seeds and Black Gram Seeds, Fenugreek Seeds and Cumin Seeds, and others.
The Company works with selected seed-growing farmers under supervised arrangements, where it provides seed material and technical guidance while closely monitoring crop quality. After harvest, seeds are processed at the company's facility in Jashapar, Jamnagar, through cleaning, grading, treatment, and packing to ensure high quality and viability. The company also procures seeds directly from farmers and the open market when required.
As of April 30, 2026, the company had 18 employees across various business functions, supported by additional daily-wage workers as needed.
Competitive Strengths:
Wide Range of Seeds and its Variants
Quality Assurance
Customer Satisfaction
Experienced Promoter supported by dedicated Management team
Strong order book of Rs 1,312.50 Lakhs
Company Financials (Restated)
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 36.99 | 21.07 | 7.89 |
| Total Income | 74.59 | 44.13 | 35.49 |
| Profit After Tax | 6.12 | 2.16 | 1.91 |
| EBITDA | 9.24 | 3.66 | 2.79 |
| NET Worth | 19.66 | 13.27 | 3.65 |
| Reserves and Surplus | 13.25 | 9.03 | 0.27 |
| Total Borrowing | 7.68 | 5.97 | 1.94 |
| Amount in ₹ Crore |
Dhanwel Hybrid Seeds Ltd.'s revenue increased by 69% and profit after tax (PAT) rose by 183% between the financial year ending with March 31, 2026 and March 31, 2025.
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IPO Objects of the Issue
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding towards Repayment or prepayment, in full or in part, of borrowings availed by Company from banks and financial institutions | 7.60 |
| 2 | Funding the working capital requirements of the Company | 11.60 |
| 3 | General Corporate Purposes | 4.01 |
| 4 | Issue Expenses | 3.52 |
| Total | 26.73 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Key Performance Indicator (KPI)
| KPI | Mar 31, 2026 |
|---|---|
| ROE | 37.15% |
| ROCE | 49.36% |
| Debt/Equity | 0.39 |
| RoNW | 31.11% |
| PAT Margin | 8.20% |
| EBITDA Margin | 12.38% |
| NAV | 30.70 |
| Price to Book Value | 3.22 |
Check IPO Peer Comparison here.
IPO Valuation
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 9.55 | 6.72 |
| P/E (x) | 10.37 | 14.74 |
| Market Cap at Offer Price | ₹63Cr. | ₹85.62 Cr |
Disclaimer
The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2026 available in RHP.
Shareholding Structure
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and Promoter Group | 49.94% | 35.12% |
| Public | 50.06% | 64.88% |
| Total | 100% | 100% |
Company Promoters: Kishankumar Gordhanbhai Meghani, Vimal Mansukhbhai Vekariya, Sudhir Mohanbhai Pilaliya and Nikul Mansukhbhai Vekariya.
Dhanwel Hybrid Seeds IPO Recommendations
| Review By | Subscribe | May Apply | Neutral | Avoid |
|---|---|---|---|---|
| Brokers | 0 | 0 | 0 | 0 |
| Members | 0 | 0 | 0 | 0 |
IPO Subscription Status
| Category | Subscription (x) | Shares Offered | Shares bid for | Total Applications |
|---|---|---|---|---|
| QIB (Ex Anchor) | 1.00 | 28,800 | 28,800 | 0 |
| NII * | 0.24 | 12,67,200 | 3,03,600 | 0 |
| bNII (> ₹10L) | 0.05 | 8,44,800 | 44,400 | — |
| sNII (< ₹10L) | 0.61 | 4,22,400 | 2,59,200 | — |
| Individual Investor | 3.08 | 12,67,200 | 39,02,400 | 0 |
| Total | 1.65 | 25,63,200 | 42,34,800 | 1,700 |
The Dhanwel Hybrid Seeds IPO is subscribed 1.65 times on August 21, 2026 6:54:56 PM (Day 3). The public issue subscribed 3.08 times in the individual investors category, 1.00 times in the QIB category, and 0.24 times in the NII category. Check Day by Day Subscription Details (Live Status)
Reload
Total Applications: 1,700
*Market Maker portion is not included to NII/HNI.
IPO Expenses
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees and commissions payable to the BRLM (including any underwriting commission, brokerage and selling commission | 0.60 |
| 2 | Underwriting Fees | 1.34 |
| 3 | Fees Payable to Registrar to the Issue | 0.05 |
| 4 | Fees payable to Legal Advisor | 0.03 |
| 5 | Fees Payable Advertising, Marketing Expenses and Printing Expenses | 0.09 |
| 6 | Fees Payable to Regulators including Stock Exchanges and other Intermediaries | 0.09 |
| 7 | Fees payable to Peer Review Auditor | 0.11 |
| 8 | Fees Payable to Market Maker | 0.03 |
| 9 | Others (Fees payable for marketing & distributing expenses, selling commission, brokerage, processing fees and miscellaneous expenses | 1.20 |
| Total | 3.52 |
Listing Day Trading Information
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹ 99.00 |
| Open | ₹ 99.00 |
| Low | ₹ 94.05 |
| High | ₹ 99.00 |
| Last Trade | ₹ 94.05 |
Check IPO Performance…
IPO Registrar
Cameo Corporate Services Ltd.
044-28460390/28460391/28460392
ipo@cameoindia.com
IPO Lead Manager(s)
Wealth Mine Networks Ltd.
Contact Details
Dhanwel Hybrid Seeds Ltd. Address
Survey No. 289/1, Opp. Saffron School,
Rajkot- Kalawad Highway,
At- Jashapar,
Jamnagar, Gujarat , 361160
+91 7778889978
info@dhanwelseeds.com
Dhanwel Hybrid Seeds IPO in the news
Recent coverage in the financial press. Headlines are the publishers' own; verify details with the RHP.
Dhanwel Hybrid Seeds Cash Flow, Financial Statements
The Economic Times · 28 Aug 2026
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Value Research · 26 Aug 2026
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Business Standard · 26 Aug 2026
Dhanwel Hybrid Seeds IPO Subscription Status at 0.20x on Day 2
HDFC Sky · 20 Aug 2026
Dhanwel Hybrid Seeds IPO: Day 1, Rs 95-99, BSE SME 19 August 2026
Univest · 19 Aug 2026
Dhanwel Hybrid Seeds IPO Day 2 Live: Retail jumps 300% to 0.16x - Check details
scanx.trade · 18 Aug 2026
