Published: 17 June 2026 | 8.00 AM
Last Updated: 17 June 2026 | 11.00 PM
Dhanwel Hybrid Seeds IPO Review, GMP, Price Band, Subscription & Allotment Status
IPO Overview / Intro
Dhanwel Hybrid Seeds IPO is an SME book building issue aggregating up to Rs. 26.73 Crore. The IPO comprises a fresh issue of 27,00,000 equity shares and there is no Offer for Sale component.
The IPO opens for subscription on 24 June 2026 and closes on 29 June 2026. The shares are proposed to be listed on BSE SME with a tentative listing date of 2 July 2026.
Dhanwel Hybrid Seeds Limited is engaged in the business of seed manufacturing and distribution for field crops and vegetable crops. The company develops, processes and markets a wide range of agricultural seeds including groundnut, soybean, gram, sesame, wheat, green gram, black gram, fenugreek and cumin seeds.
The company follows a contract farming model and works closely with selected seed growers while maintaining quality control standards through seed processing, grading, treatment and packaging operations at its Jamnagar facility in Gujarat.
A notable feature of this IPO is its unusual reservation structure, where only 1.12% of the net issue is reserved for QIB investors, while nearly 49.44% each is allocated to Retail and HNI categories. Investors may monitor institutional participation closely as subscription progresses.
Key Highlights
| Particulars | Details |
|---|---|
| IPO Type | SME Book Building IPO |
| Issue Size | Rs. 26.73 Crore |
| Fresh Issue | 27,00,000 Shares |
| Offer For Sale | Nil |
| Price Band | Rs. 95 to Rs. 99 Per Share |
| Face Value | Rs. 10 Per Share |
| Listing Exchange | BSE SME |
| Lot Size | 1,200 Shares |
| Retail Application | Rs. 2,37,600 |
| Market Cap | Rs. 90.12 Crore (Pre IPO) |
| Listing Date | 2 July 2026 |
👉 | IPO GMP – which IPO commands fancy?
| IPO Reviews | IPO Subscription | IPO Allotment |
Dhanwel Hybrid Seeds IPO GMP – Latest Update
| GMP Details | Value |
| Dhanwel Hybrid Seeds IPO GMP Today | Updating Soon |
| Kostak Rate | Updating Soon |
| Subject to Sauda | Updating Soon |
Dhanwel Hybrid Seeds IPO Subscription Status – Live Update
| Category | Subscription |
| QIB Category | Updating Soon |
| NII Category | Updating Soon |
| Retail Category | Updating Soon |
| Total Subscription | Updating Soon |
IPO Details at a Glance
| Particulars | Details |
| IPO Date | 24 June 2026 to 29 June 2026 |
| Listing Date | 2 July 2026 |
| Face Value | Rs. 10 Per Share |
| Price Band | Rs. 95 to Rs. 99 Per Share |
| Lot Size | 1,200 Shares |
| Issue Type | Book Building SME IPO |
| Listing At | BSE SME |
| Total Issue Size | 27,00,000 Shares |
| Issue Size | Rs. 26.73 Crore |
| Fresh Issue | 27,00,000 Shares |
| Offer For Sale | Nil |
| Reserved For Market Maker | 1,36,800 Shares |
| Market Maker | Aikyam Capital Pvt. Ltd. |
| Net Offered To Public | 25,63,200 Shares |
| Shareholding Pre Issue | 64,03,320 Shares |
| Shareholding Post Issue | 91,03,320 Shares |
| Market Cap | Rs. 90.12 Crore (Pre IPO) |
IPO Timetable
| Event | Date |
| IPO Open Date | 24 June 2026 |
| IPO Close Date | 29 June 2026 |
| Basis of Allotment | 30 June 2026 |
| Refund Initiation | 1 July 2026 |
| Credit of Shares | 1 July 2026 |
| Listing Date | 2 July 2026 |
Reservation
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
| QIB Shares Offered | 28,800 | 1.12% | 1.07% |
| NII Shares Offered | 12,67,200 | 49.44% | 46.93% |
| bNII Shares Offered | 8,44,800 | 32.95% | 31.29% |
| sNII Shares Offered | 4,22,400 | 16.49% | 15.64% |
| Retail Shares Offered | 12,67,200 | 49.44% | 46.93% |
| Market Maker Shares Offered | 1,36,800 | – | 5.07% |
| Total Shares Offered | 27,00,000 | 100.00% | 100.00% |
Lot Size
| Application Type | Lots | Shares | Amount |
| Retail Minimum | 2 | 2,400 | Rs. 2,37,600 |
| Retail Maximum | 2 | 2,400 | Rs. 2,37,600 |
| S-HNI Minimum | 3 | 3,600 | Rs. 3,56,400 |
| S-HNI Maximum | 8 | 9,600 | Rs. 9,50,400 |
| B-HNI Minimum | 9 | 10,800 | Rs. 10,69,200 |
Company Details
Dhanwel Hybrid Seeds Limited was incorporated in 2018 and is engaged in seed production, processing and marketing across multiple agricultural crop categories.
The company offers seeds for groundnut, soybean, gram, sesame, wheat, green gram, black gram, fenugreek, cumin and other crops. Its operations include sourcing breeder and foundation seed material, contract farming, seed multiplication, processing, testing and distribution.
The company operates through a farmer-linked production model where selected growers cultivate seeds under technical supervision. After harvesting, the seeds undergo cleaning, grading, treatment and packaging at the company’s processing facility located in Jamnagar, Gujarat.
The company has built an order book of approximately Rs. 13.13 Crore and benefits from growing demand for quality hybrid and certified seeds across India’s agricultural sector.
Competitive Strengths
Key Strengths
- Diversified Seed Portfolio
- Strong Farmer Network
- Growing Agricultural Demand
- Established Seed Processing Facility
- Quality Assurance Processes
- Experienced Management Team
- Healthy Order Book
- Asset-Light Business Model
IPO Objects
| Sr. No. | Objects of the Issue | Estimated Amount |
| 1 | Repayment / Prepayment of Borrowings | Rs. 7.60 Crore |
| 2 | Working Capital Requirements | Rs. 11.60 Crore |
| 3 | General Corporate Purposes | To Be Declared |
| Total | Total Utilization | Rs. 19.20 Crore |
Company Address
| Particulars | Details |
| Registered Office | Survey No. 289/1, Opp. Saffron School, Rajkot-Kalawad Highway, At Jashapar, Jamnagar, Gujarat – 361160 |
| Phone | +91 7778889978 |
| info@dhanwelseeds.com |
Lead Manager & Registrar
| Particulars | Details |
| Lead Manager | Wealth Mine Networks Pvt. Ltd. |
| Registrar | Cameo Corporate Services Ltd. |
| Registrar Phone | +91-44-28460390 |
| Registrar Email | ipo@cameoindia.com |
| Market Maker | Aikyam Capital Pvt. Ltd. |
Financials
| Particulars (Rs. Crore) | FY2026 | FY2025 | FY2024 |
| Total 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 & Surplus | 13.25 | 9.03 | 0.27 |
| Total Borrowings | 7.68 | 5.97 | 1.94 |
Valuation
Key Performance Indicators (KPI)
| KPI | FY2026 |
| ROE | 37.15% |
| ROCE | 49.36% |
| Debt / Equity | 0.39 |
| RoNW | 31.11% |
| PAT Margin | 8.20% |
| EBITDA Margin | 12.38% |
| Price To Book Value | 3.22 |
EPS & Valuation
| Particulars | Pre IPO | Post IPO |
| EPS (Rs.) | 9.55 | 6.72 |
| P/E (x) | 10.37 | 14.74 |
Shareholding Pattern
| Particulars | Pre Issue | Post Issue |
| Promoter Holding | 49.94% | 35.11% |
Chanakya View
Investment Summary
| Parameter | Observation |
| Industry | Seeds & Agri Inputs |
| Product Portfolio | Field Crop & Vegetable Seeds |
| Business Model | B2B Seed Production & Distribution |
| Revenue Trend | Strong Growth |
| Profitability | Significant Improvement |
| Debt Levels | Comfortable |
| Working Capital Requirement | Moderate |
| Order Book | Visible Demand |
| Valuation | Reasonable |
| Listing | BSE SME |
Positives
Strengths
- Strong Revenue And Profit Growth
- Healthy Return Ratios
- Low Debt Profile
- Diverse Seed Portfolio
- Established Farmer Network
- Growing Presence In Agricultural Inputs
- Visible Order Book
- Asset-Light Operating Structure
Concerns
Risks
- Weather Dependency
- Agricultural Sector Cyclicality
- Seed Demand Volatility
- Regulatory Risks
- Relatively Small Scale Operations
- SME Liquidity Risk
Dhanwel Hybrid Seeds operates in the agricultural input segment through the production and distribution of field crop and vegetable seeds. The company has developed a diversified seed portfolio and works closely with contract farmers for seed multiplication and quality control.
Financial performance has improved sharply over the past year with revenue increasing 69% and profit after tax rising 183%. The company also maintains a comfortable debt profile and strong return ratios, indicating efficient capital utilisation and improving business fundamentals.
A significant portion of the IPO proceeds will be used for debt repayment and working capital requirements. This should further strengthen the balance sheet and provide financial flexibility for future expansion.
From a valuation perspective, the issue appears reasonably priced at the upper band of Rs. 99 considering the company’s earnings growth, healthy margins and low leverage profile. While recently listed agri-sector SME IPOs have delivered mixed listing performances, Dhanwel’s financial trajectory appears comparatively stronger.
Investors should, however, note the relatively low institutional allocation in the issue structure and the inherent dependence of the business on agricultural cycles and climatic conditions.
Chanakya View: Subscribe for Long Term. Among recent SME offerings, Dhanwel stands out due to its strong earnings growth, healthy return ratios and relatively comfortable debt profile.
FAQs
What is Dhanwel Hybrid Seeds IPO GMP today?
Dhanwel Hybrid Seeds IPO GMP is currently updating in the grey market. Investors should track the latest GMP before the IPO opens.
What is the Dhanwel Hybrid Seeds IPO price band?
Dhanwel Hybrid Seeds IPO price band is fixed at Rs. 95 to Rs. 99 per share.
What is the Dhanwel Hybrid Seeds IPO lot size?
Dhanwel Hybrid Seeds IPO lot size is 1,200 shares. Retail investors need to apply for a minimum of 2,400 shares.
When will Dhanwel Hybrid Seeds IPO list?
Dhanwel Hybrid Seeds IPO is expected to list on BSE SME on 2 July 2026.