Dhanwel Hybrid Seeds IPO

SME • BSE SME • Fresh capital only

LISTEDSMEBSE SME

Dhanwel Hybrid Seeds

Price band

₹95 – ₹99

Lot size

1200 shares

Min investment

₹1,18,800

Issue size

₹26.73 Cr

About the company

Dhanwel Hybrid Seeds Limited is engaged in the research, development, production and distribution of hybrid seeds for various agricultural crops and vegetables. The company sources genetic seed material from agricultural institutions, research organisations and other channels, and works closely with contract farmers for seed multiplication. Through its field teams and agronomists, Dhanwel monitors crop quality and provides technical guidance to ensure seed performance and consistency. The company follows an integrated business model covering seed development, cultivation, processing, packaging and marketing. Its operations are aimed at supplying high-quality seeds that help improve crop yields and productivity for farmers. Promoted by experienced professionals in the seed industry, Dhanwel focuses on expanding its product portfolio and strengthening its distribution network across key agricultural regions in India.

Dhanwel Hybrid Seeds IPO opened for subscription from 24 June 2026 to 29 June 2026. The company traces its origins to 2018, when it was established as a partnership firm under the name Super Vegetable Seeds before being converted into a corporate entity. Dhanwel operates in the agricultural seeds business, focusing on the development, production, processing and marketing of hybrid seeds for field crops and vegetables. The company primarily serves farmers across India, with a strong presence in Gujarat and surrounding agricultural markets.

IPO details

Issue price: ₹99
Price band: ₹95 – ₹99
Face value: ₹10
Lot size: 1200
Min investment: ₹1,18,800
Issue size: ₹26.73 Cr
Sale type: Fresh capital only
Listing on: BSE SME
BSE scrip code: 7900
NSE symbol: DHANWEL.BO

Lot size & investment by category

APPLICATION	LOTS	SHARES	AMOUNT
Retail (Min)	1	1,200	₹1,18,800
Retail (Max)	1	1,200	₹1,18,800
HNI (Min)	2	2,400	₹2,37,600

Investor reservation

CATEGORY	RESERVED
QIB	28,800 shares (1.12% of the Offer)
NII	12,67,200 shares (49.44% of the Offer)
Retail	12,67,200 shares (49.44% of the Offer)

Objects of the issue

1Funding towards Repayment or prepayment, in full or in part, of borrowings availed by Company from banks and financial institutions7.60

2Funding the working capital requirements of the Company11.60

3General Corporate Purposes

Financials

Rs. Crore • restated

METRIC	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

Key performance indicators

P/E Ratio

14.74

EPS (₹)

6.72

RoCE

49.36%

RoNW

31.11%

PAT Margin

8.20%

✓ Strengths

• Operates in the essential agricultural seeds sector with consistent long-term demand.

• Integrated operations covering seed development, production, processing and distribution.

• Diversified portfolio of field crop and vegetable seeds reduces product concentration risk.

• Strong relationships with contract farmers support scalable seed production.

• Focus on quality control and agronomic support enhances product reliability.

⚠ Risks

• Business performance is highly dependent on monsoon conditions and agricultural output.

• Crop failure during seed multiplication can adversely impact seed availability and revenues.

• Intense competition from established domestic and multinational seed companies may affect growth.

• Regulatory changes related to seed approvals and agricultural policies could impact operations.

• Dependence on contract farmers creates risks related to production quality and supply consistency.

Promoters & holding

Kishankumar Gordhanbhai Meghani, Vimal Mansukhbhai Vekariya, Sudhir Mohanbhai Pilaliya and Nikul Mansukhbhai Vekariya

Pre-issue promoter holding

49.94%

Post-issue promoter holding

35.12%

Data refreshed 07 Nov 2026, 05:05 pm IST. GMP is unofficial market sentiment, not investment advice.