BSE SME Dhanwel Hybrid Seeds fails to blossom as stock slips below IPO price

Dhanwel Hybrid Seeds traded at Rs 94.05 on the BSE, a 5% discount to the issue price of Rs 99.

The scrip was listed at Rs 99, matching the initial public offer (IPO) price. The stock is currently frozen at its lower limit of 5% over its listing price.

The counter hit a high of Rs 99 and a low of Rs 94.05. About 1.81 lakh shares of the company changed hands at the counter.

Dhanwel Hybrid Seeds' IPO was subscribed 1.62 times. The issue opened for bidding on 19 July 2026 and it closed on 21 August 2026. The price band of the IPO was fixed between Rs 95 to Rs 99 per share.

The IPO comprised 27,00,000 equity shares. The promoter and promoter group shareholding diluted to 35.12% from 49.93% pre-offer.

The company intends to utilize the net proceeds for funding towards repayment or prepayment, in full or in part, of borrowings availed by the company from banks and financial institutions; funding the working capital requirements of the company and general corporate purposes.

Dhanwel Hybrid Seeds is engaged in the manufacturing, processing and supply of seeds for various field crops and vegetables. The company procures genetic seed material from recognised agricultural institutions, government-supported research organisations and the open market. It also undertakes seed production through identified farmers, providing them with seed material, technical guidance and cultivation protocols, while its field staff and agronomists supervise the process to maintain quality standards. The company handles subsequent processing, quality control and commercial activities. As of 30 April 2026, it had 18 employees.

The company recorded revenue from operations of Rs 74.59 crore and net profit of Rs 6.12 crore for the period ended 31 March 2026.

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