Dhanwel Hybrid Seeds IPO
Listed +0.0%19–21 Aug 2026
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Our IPO analysis
What stands out in the offer document
The five questions
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1How it makes money₹57 of every ₹100 of sales comes from its "Oil Seeds" segment.
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2Is it growing, and is profit turning into cash?Sales grew 2.1x from 2024 to 2026 (₹35.5 cr → ₹74.6 cr). Over 3 years it made ₹10.2 cr of profit and brought in −₹8.5 cr of cash from operations.
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3How much cushion does it have?It owes ₹0.39 for every ₹1 of its own money. The line for manufacturing is ₹2.
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4What you pay, and who gets the moneyAll the money raised goes to the company. At ₹99 you pay about ₹10 for every ₹1 of last year's profit. The listed peers the document names: ₹27 (middle of 2).
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5Who controls it, and what is on record?Promoters own 50% now and 35% after the IPO. The document discloses 1 legal matter.
What the document doesn't lead with
Each line pairs what the document leads with and what it also prints, with both pages.
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Latest update:
Listed at ₹99 vs ₹99 issue price (+0.0%) · Day-one close ₹94 · Subscribed 1.61× (QIB 1.0× · NII 0.3× · Retail 3.1×) · Price band ₹95–₹99 · Closed 21 Aug 2026 · Listed 26 Aug 2026 (Confirmed)
How it actually listed
₹99 on open, against a ₹99 issue price +0.0%
It ended its first day at ₹94 (-5.0% against the issue price), per the BSE's price archive.
We were not recording a grey-market premium before it listed.
What Dhanwel Hybrid Seeds does
Our Company is engaged in the business of seed manufacturing, which includes the development, multiplication, processing, and supply of seeds for a variety of field crops and vegetables.
Dhanwel Hybrid Seeds financials
Rs crore · Annual| 2024 | 2025 | 2026 | ||
|---|---|---|---|---|
| Sales | 35 | 44 | 75 | |
| Operating Profit | 3 | 4 | 9 | |
| OPM % | 7.8% | 8.3% | 12.4% | |
| Net Profit | 2 | 2 | 6 | |
| Total Debt | 2 | 6 | 8 |
Dhanwel Hybrid Seeds IPO offer structure
Fresh issue: ₹27 cr
The fresh issue alone, not the total raise: the document we read does not state the offer-for-sale part.
Size and split come from a public aggregator rather than the exchange, cross-checked against a second.
Use of proceeds- Funding towards Repayment or prepayment, in full or in part, of borrowings availed by our Company from banks and financial institutions: ₹8 cr
- Funding the working capital requirements of our Company: ₹12 cr
- General Corporate Purpose
Dhanwel Hybrid Seeds promoters and holding
- Mr. Kishankumar Gordhanbhai Meghani: Chairman and Managing Director
- Mr. Vimal Mansukhbhai Vekariya: Whole-time Director
- Mr. Sudhir Mohanbhai Pipaliya: Non-Executive Director
- Mr. Nikul Mansukhbhai Vekariya: Promoter
Dhanwel Hybrid Seeds risks and strengths
- Our business is subject to seasonality and climatic conditions, which could impact demand for our products and affect our financial performance. (p.31)
- Certain delays, discrepancies and Omissions have been detected in our statutory records, as well as in records related to the submission of returns to the concerned Registrar of Companies. (p.31)
- Major portion of our transactions are conducted in cash, which may expose us to operational, regulatory, and financial risks. (p.32)
2 more the company lists
- Certain delays in statutory filings under the Companies Act, 2013 may lead to financial and regulatory consequences for our Company. (p.32)
- Non-compliance with certain procedural requirements under Section 42 of the Companies Act, 2013 relating to a private placement of equity shares may expose our Company to regulatory action, penalties, and other adverse consequences. (p.33)
Dhanwel Hybrid Seeds peer comparison: DRHP median P/E 26.5x
DRHP data only| Company | CMP | P/E | OPM% | ROE% | Source |
|---|---|---|---|---|---|
| Bombay Super Hybrid Seeds Limited | — | 39.1x | — | — | DRHP |
| Upsurge Seeds of Agriculture Limited | — | 14.0x | — | — | DRHP |
P/E from offer document where live data unavailable. Not a fair-value judgement.
Dhanwel Hybrid Seeds market and competition
Market structure remains fragmented: the top five firms capture a good share of revenue, followed by dozens of regional seed houses.
Dhanwel Hybrid Seeds outlook, as the document states it
Our Company seeks to strengthen its presence in existing markets while gradually expanding its reach to additional geographies, based on market opportunities and demand conditions. We intend to continue efforts aimed at enhancing brand visibility and recognition in existing and potential markets.
Dhanwel Hybrid Seeds IPO: common questions
When does the Dhanwel Hybrid Seeds IPO open and close?
The Dhanwel Hybrid Seeds IPO is open from 19 Aug 2026 to 21 Aug 2026.
What is the Dhanwel Hybrid Seeds IPO price band?
The price band is ₹95–₹99 per share.
How much is the Dhanwel Hybrid Seeds IPO subscribed?
As of 10 Oct 2026 the total subscription is 1.61×.
When does the Dhanwel Hybrid Seeds IPO list?
The listing date is 26 Aug 2026.
How do I check the Dhanwel Hybrid Seeds IPO allotment status?
On the allotment status page published by Cameo Corporate Services, this issue's registrar, and on the exchange's basis of allotment. Those are the primary sources. If the issue was oversubscribed, retail allotment was decided by lottery, so a valid application does not mean shares. We do not hold allotment data and cannot look yours up. How allotment is actually decided →
Dhanwel Hybrid Seeds IPO allotment status
Listed 26 Aug 2026. Allotment is decided and published by the registrar, not by us. This issue's registrar is Cameo Corporate Services.
Check your allotment on the registrar's own page ↗
We do not hold allotment data and cannot look yours up. If the issue was oversubscribed, retail allotment was decided by lottery, so a valid application does not mean shares. How allotment is actually decided →