Dhanwel Hybrid Seeds IPO GMP today is Rs 1. Investors can use this GMP along with price band and subscription status for a better IPO review.
Listed
SME IPO
DHANWEL
Dhanwel Hybrid Seeds IPO GMP, Subscription & Allotment Status Today
Dhanwel Hybrid Seeds Limited is engaged in the seed manufacturing business, covering the development, multiplication, processing, and supply of seeds for a range of field crops and vegetables. The company procures breeder and other genetic seed material from recognised agricultural institutions, government-supported research organisations, and the open market. Seed production is carried out through arrangements with seed-growing farmers, where the company provides seed material, cultivation protocols, and technical supervision, while monitoring crop quality through its agronomists and field staff. After harvest, seeds undergo cleaning, grading, treatment, quality checks, packing, and storage at the company’s processing facility in Jamnagar, Gujarat. The company also procures seeds directly from farmers and the open market when required and processes them before sale. Operating in a single business segment, it generates revenue from the sale of seeds marketed under the “Dhanwel Seeds” brand and follows an integrated approach encompassing sourcing, production, quality control, and distribution.
- Price Band
- ₹95.00 - ₹99.00
- Lot Size
- 1,200 Shares
- Bidding Closes
- 21 Aug 2026
- Listing Date
- 26 Aug 2026
Current GMP Status
₹1
+1.01% vs upper band
Est. Listing Gain
+0.00%
Last Trend
21 Aug 2026
Listing Price
₹99.00
Retail Entry
₹2,37,600
IPO Details
Complete IPO information
| Current GMP | ₹1 |
|---|---|
| Estimated Listing Gain | +0.00% |
| Price Band | ₹95.00 - ₹99.00 |
| Issue Price | Approx ₹99.00 Crores |
| Listing Price | ₹99.00 |
| Lot Size | 1,200 Shares |
| Issue Type | SME |
| Registrar | TBA |
| Exchange | BSE SME |
| Retail Quota | TBA |
| Overall Subscription | 1.62x |
| Listing Date | 26 Aug 2026 |
| Minimum Investment | ₹2,37,600 |
Demand Tracker
Subscription Status
| Category | Shares Reserved | Shares Applied | Subscription (x) |
|---|---|---|---|
| QIB | 0.28 | 0.28 | 1x |
| NII | 14.04 | 1.304.40 | 0.31x |
| Retail | 12.67 | 39.02 | 3.08x |
| Overall Subscription | 27 | 43.72 | 1.62x |
Analysis
IPO Snapshot & Investor Takeaways
At the upper end of its price band, Dhanwel Hybrid Seeds is priced at ₹99 per share. With a minimum lot size of 1,200 shares, a retail investor applying for one lot would need approximately ₹2,37,600 to participate in this SME issue.
The latest recorded Grey Market Premium for Dhanwel Hybrid Seeds stands at ₹1, implying an estimated listing gain of around 1.01% over the issue price if it holds until listing. This is down ₹5 from its previously recorded level. GMP reflects informal grey-market sentiment rather than a guaranteed outcome, and can change at any point until the day of listing.
As of the latest update, Dhanwel Hybrid Seeds's IPO was subscribed 1.62x overall, with a category-wise breakdown of Retail 3.08x, QIB 1x, NII 0.31x.
Among the strengths highlighted in Dhanwel Hybrid Seeds's IPO documents: Operates an integrated seed business covering sourcing, production, processing, quality control, and distribution.; Works with experienced agronomists, field staff, and technicians to maintain seed quality standards..
Investors should also weigh the risk factors Dhanwel Hybrid Seeds has disclosed, including: A significant portion of revenue is generated from a limited number of customers..
A share of Dhanwel Hybrid Seeds's issue proceeds is earmarked for Repayment Of Borrowings: 7.6 (28.43%).
SME IPOs list on the dedicated SME platform of BSE/NSE. They usually involve smaller issue sizes and a higher per-lot investment than Mainboard issues, with comparatively lower institutional participation.
Timeline
IPO roadmap at a glance
✓
Bidding Opens
19 Aug 2026
✓
Bidding Closes
21 Aug 2026
✓
Allotment
24 Aug 2026
✓
Listing
26 Aug 2026
Grey Market Premium
Daily GMP status
| Date | GMP | Change | Gain |
|---|---|---|---|
| 21 Aug 2026 | ₹5.00 | -₹5.00 | 5.05% |
| 20 Aug 2026 | ₹10.00 | +₹10.00 | 10.10% |
| 19 Aug 2026 | ₹0.00 | - | TBA |
Swipe to see more →
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 Lot | 2,400 | ₹2,37,600 |
| Retail Maximum | 2 Lot | 2,400 | ₹2,37,600 |
| S-HNI Minimum | 3 Lot | 3,600 | ₹3,56,400 |
| S-HNI Maximum | 8 Lot | 9,600 | ₹9,50,400 |
| B-HNI Minimum | 9 Lot | 10,800 | ₹10,69,200 |
Swipe to see more →
Fund Utilization
Objects of the Issue & Official Documents
- Repayment Of Borrowings 7.6 (28.43%)
- Working Capital 11.6 (43%)
- General Corporate Purpose 7.53 (28.17%)
Issue Notes
Important takeaways before applying
Strengths
- Operates an integrated seed business covering sourcing, production, processing, quality control, and distribution.
- Works with experienced agronomists, field staff, and technicians to maintain seed quality standards.
- Uses contract seed-growing farmers while also sourcing from farmers and the open market, providing procurement flexibility.
- Has a dedicated seed processing facility in Jamnagar equipped for cleaning, grading, treatment, packing, and storage.
- Markets its products under the “Dhanwel Seeds” brand and holds ISO 9001:2015 certification.
Risks
- A significant portion of revenue is generated from a limited number of customers.
- A significant portion of purchases is sourced from a limited number of suppliers.
- The business is exposed to inflation, which can increase raw material and labour costs.
- Seed production depends on contract farmers and agricultural cultivation activities.
- The company operates in a competitive seed industry with several established players.
Analysis
Dhanwel Hybrid Seeds IPO Details
The Dhanwel Hybrid Seeds IPO is a book-building SME public issue with an issue size of approximately ₹27 crores. The IPO consists entirely of a fresh issue, with the company proposing to raise funds through the issuance of new equity shares.
The IPO is scheduled to open for subscription on August 19, 2026 and close on August 21, 2026. Dhanwel Hybrid Seeds has fixed the IPO price band at ₹95 to ₹99 per equity share, while the face value is ₹10 per share. The equity shares are proposed to be listed on the BSE SME platform.
| Particular | Details |
|---|---|
| IPO Open Date | August 19, 2026 |
| IPO Close Date | August 21, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹95 to ₹99 Per Share |
| Issue Size | Approx ₹27 Crores |
| Fresh Issue | Approx ₹27 Crores |
| Issue Type | Book Building Issue |
| IPO Listing | BSE SME |
Note: Investors should evaluate Dhanwel Hybrid Seeds' financial performance, business growth, profitability, use of IPO proceeds, industry risks and valuation before considering an investment in the IPO.
Analysis
Dhanwel Hybrid Seeds IPO Reservation
The Dhanwel Hybrid Seeds IPO reservation is divided among Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), Retail Individual Investors and other applicable categories.
As per the provided allocation, 28,800 shares, representing approximately 1.07%, are allocated to the QIB category excluding anchor investors. The NII and Retail categories are each offered 12,67,200 shares, representing approximately 46.93% of the issue for each category.
| Investor Category | Shares Offered | Shares (%) |
|---|---|---|
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | 28,800 Shares | 1.07% |
| NII Shares Offered | 12,67,200 Shares | 46.93% |
| Retail Shares Offered | 12,67,200 Shares | 46.93% |
Note: The above table summarizes the provided category-wise reservation for the Dhanwel Hybrid Seeds IPO. Investors should check the final offer document and exchange announcements for the final number of shares available under each investor category.
Analysis
Dhanwel Hybrid Seeds IPO Dates
The Dhanwel Hybrid Seeds IPO opens for subscription on August 19, 2026 and closes on August 21, 2026. Investors can submit their IPO applications during this three-day subscription period.
The Dhanwel Hybrid Seeds IPO allotment is expected to be finalized on August 24, 2026. Refunds for unsuccessful applicants and credit of shares to successful investors' demat accounts are scheduled for August 25, 2026. The shares are scheduled to list on the BSE SME platform on August 26, 2026.
| IPO Event | Date |
|---|---|
| IPO Open Date | August 19, 2026 |
| IPO Close Date | August 21, 2026 |
| Basis of Allotment | August 24, 2026 |
| Refunds | August 25, 2026 |
| Credit to Demat Account | August 25, 2026 |
| IPO Listing Date | August 26, 2026 |
Note: The above table summarizes the Dhanwel Hybrid Seeds IPO timeline, including the opening date, closing date, basis of allotment, refund initiation, demat credit and proposed BSE SME listing date.
Analysis
Dhanwel Hybrid Seeds IPO Promoters and Holding Pattern
The promoters of Dhanwel Hybrid Seeds are Mr. Kishankumar Gordhanbhai Meghani, Mr. Vimal Mansukhbhai Vekariya, Mr. Sudhir Mohanbhai Pilaliya and Mr. Nikul Mansukhbhai Vekariya.
Before the IPO, the promoter and promoter group collectively hold 31,97,250 equity shares, representing approximately 49.94% of the company's pre-issue share capital. Other shareholders hold 32,06,070 shares, representing the remaining 50.06%.
The company's total outstanding equity shares are expected to increase from 64,03,320 shares before the IPO to approximately 91,03,320 shares after the IPO.
Promoters of Dhanwel Hybrid Seeds
- Mr. Kishankumar Gordhanbhai Meghani
- Mr. Vimal Mansukhbhai Vekariya
- Mr. Sudhir Mohanbhai Pilaliya
- Mr. Nikul Mansukhbhai Vekariya
| Particular | Pre IPO Shares | Pre IPO % Shares | Post IPO Shares | Post IPO % Shares |
|---|---|---|---|---|
| Promoter and Promoter Group | 31,97,250 | 49.94% | – | -% |
| Others* | 32,06,070 | 50.06% | – | -% |
| Total | 64,03,320 | 100% | 91,03,320 | 100% |
Note: Post-IPO promoter and public shareholding percentages are not available in the provided data. The total post-issue share capital is expected to increase to 91,03,320 equity shares following completion of the fresh issue.
Analysis
Dhanwel Hybrid Seeds IPO Objects of the Issue & Utilisation of Proceeds
Dhanwel Hybrid Seeds proposes to utilise the proceeds from the fresh issue primarily towards repayment or prepayment of existing borrowings and funding the company's working capital requirements. A portion of the proceeds will also be used for general corporate purposes.
The company plans to utilise approximately ₹7.60 crores towards repayment or prepayment of borrowings availed from banks and financial institutions. Another ₹11.60 crores is proposed to be deployed towards working capital requirements to support the company's ongoing business operations.
| Purpose | Amount |
|---|---|
| Repayment or prepayment, in full or in part, of borrowings availed by the Company from banks and financial institutions | ₹7.60 Cr. |
| Funding the working capital requirements of the Company | ₹11.60 Cr. |
| General Corporate Purpose | ₹- |
Note: The specified allocations towards repayment of borrowings and working capital requirements total approximately ₹19.20 crores. The remaining net proceeds may be utilised towards general corporate purposes and other applicable issue-related requirements as specified in the offer document.
Analysis
Dhanwel Hybrid Seeds About IPO
Dhanwel Hybrid Seeds, incorporated in 2018, is one of the leading manufacturers of seeds, field crops, and vegetables. The firm develops and manufactures high-quality seeds by purchasing seed material from recognised institutions, research organisations, and the open market. The seeds then undergo cultivation, processing, quality checks, and packaging before being sold to customers.
Its product offering includes Groundnut Seeds, Soybean Seeds, Gram Seeds, Sesame Seeds, Wheat Seeds, Green Gram Seeds, Black Gram Seeds, Fenugreek Seeds, and Cumin Seeds. Dhanwel Hybrid Seeds works with selected farmers by providing seed material and guidance while closely monitoring crop quality and arrangements. Once the seeds get harvested, they go to the processing facility in Jashapar, Jamnagar, where they go through cleaning, Grading, Treatment, and packing.
Analysis
Dhanwel Hybrid Seeds IPO Company Financial Report
Dhanwel Hybrid Seeds reported growth in revenue and profitability between FY2024 and FY2026. Revenue increased from ₹35.49 crores in FY2024 to ₹44.13 crores in FY2025 and further reached ₹74.59 crores in FY2026.
Profit After Tax (PAT) increased from ₹1.91 crores in FY2024 to ₹2.16 crores in FY2025 and reached ₹6.12 crores in FY2026. The company's total assets also expanded from ₹7.89 crores in FY2024 to ₹36.99 crores in FY2026.
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | ₹35.49 Cr. | ₹32.86 Cr. | ₹1.91 Cr. | ₹7.89 Cr. |
| 2025 | ₹44.13 Cr. | ₹40.78 Cr. | ₹2.16 Cr. | ₹21.07 Cr. |
| 2026 | ₹74.59 Cr. | ₹66.26 Cr. | ₹6.12 Cr. | ₹36.99 Cr. |
Amount in ₹ Crores: The above table summarizes Dhanwel Hybrid Seeds' revenue, expenses, Profit After Tax (PAT) and total assets from FY2024 to FY2026. The reported figures show expansion in revenue, profitability and the company's asset base over the three-year period.
Analysis
Dhanwel Hybrid Seeds IPO Valuation – FY2026
The Dhanwel Hybrid Seeds IPO valuation can be assessed using key financial indicators such as Earnings Per Share (EPS), Return on Equity (ROE), Return on Capital Employed (ROCE), EBITDA Margin, PAT Margin, debt-to-equity ratio, Return on Net Worth (RoNW) and Net Asset Value (NAV).
For FY2026, Dhanwel Hybrid Seeds reported an ROE of 31.11% and ROCE of 49.36%. The EBITDA margin stood at 12.38%, while the PAT margin was 8.20%. The company reported a debt-to-equity ratio of 0.39.
The company's basic Earnings Per Share (EPS) stood at ₹9.56, while Return on Net Worth (RoNW) was 31.11%. The Net Asset Value (NAV) was reported at ₹30.70 per share.
| KPI | Values |
|---|---|
| ROE | 31.11% |
| ROCE | 49.36% |
| EBITDA Margin | 12.38% |
| PAT Margin | 8.20% |
| Debt to Equity Ratio | 0.39 |
| Earning Per Share (EPS) | ₹9.56 (Basic) |
| Price / Earnings (P/E) Ratio | N/A |
| Return on Net Worth (RoNW) | 31.11% |
| Net Asset Value (NAV) | ₹30.70 |
Note: The above valuation metrics are based on the provided FY2026 financial information. Investors should compare Dhanwel Hybrid Seeds' EPS, RoNW, NAV, profitability margins, leverage and IPO pricing with relevant industry peers while evaluating the issue.
Analysis
Dhanwel Hybrid Seeds IPO Peer Group Comparison
The Dhanwel Hybrid Seeds IPO peer group comparison helps investors compare the company's financial and valuation profile with listed companies operating in the seeds and agricultural products industry. The key parameters for comparison include Earnings Per Share (EPS), Price-to-Earnings (P/E) ratio, Return on Net Worth (RoNW), Net Asset Value (NAV) and income.
The listed peers identified for Dhanwel Hybrid Seeds include Bombay Super Hybrid Seeds Limited and Upsurge Seeds of Agriculture Limited. Their valuation multiples, profitability and financial scale can be used as benchmarks while assessing Dhanwel Hybrid Seeds' IPO valuation.
| Company | EPS | P/E Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Bombay Super Hybrid Seeds Limited | 2.54 | 39.09 | 20.35% | 12.49 | 344.08 Cr. |
| Upsurge Seeds of Agriculture Limited | 7.43 | 14.00 | 12.06% | 61.47 | 110.44 Cr. |
Note: Peer-group figures should be considered as comparative benchmarks rather than standalone investment indicators. Investors should compare Dhanwel Hybrid Seeds' EPS, RoNW, NAV, profitability, business scale and IPO valuation with its listed peers before evaluating the issue.
Analysis
IPO Lead Managers aka Merchant Bankers
- Wealth Mine Networks Pvt. Ltd.
FAQ
Dhanwel Hybrid Seeds IPO FAQs
Dhanwel Hybrid Seeds IPO price band is Rs 95.00 to Rs 99.00. Check the latest issue price, lot size and GMP together before applying.
Dhanwel Hybrid Seeds IPO open date is 19 Aug 2026, close date is 21 Aug 2026, and listing date is 26 Aug 2026.
Dhanwel Hybrid Seeds IPO lot size is 1,200 shares. The minimum retail investment is Rs 2,37,600.
Dhanwel Hybrid Seeds is classified as a SME IPO. This helps investors quickly understand the issue category and exchange segment.
Dhanwel Hybrid Seeds IPO subscription status currently shows Retail 3.08x, QIB 1x, NII 0.31x, Overall 1.62x.
Dhanwel Hybrid Seeds Limited is engaged in the seed manufacturing business, covering the development, multiplication, processing, and supply of seeds for a range of field crops and vegetables. The company procures breeder and other genetic seed material from recognised agricultural institutions, government-supported research organisations, and the open market. Seed production is carried out through arrangements with seed-growing farmers, where the company provides seed material, cultivation protocols, and technical supervision, while monitoring crop quality through its agronomists and field staff. After harvest, seeds undergo cleaning, grading, treatment, quality checks, packing, and storage at the company’s processing facility in Jamnagar, Gujarat. The company also procures seeds directly from farmers and the open market when required and processes them before sale. Operating in a single business segment, it generates revenue from the sale of seeds marketed under the “Dhanwel Seeds” brand and follows an integrated approach encompassing sourcing, production, quality control, and distribution.
Dhanwel Hybrid Seeds IPO issue size is 26.73 and the expected allotment date is 24 Aug 2026.
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