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Dhanlakshmi Crop Science IPO: The IPO of Dhanlakshmi Crop Science will be listed in the stock market tomorrow, Monday. This share of the company will be listed on NSE. The IPO of Dhanlaxmi Crop Science opened for investment on 9 December and closed on 11 December. Its price band was fixed at Rs 55. This issue was subscribed 556 times in three days. Subscription data on NSE showed that non-institutions subscribed 1,328.87 times and retail investors subscribed 489.95 times their reserved portion in the issue. Qualified institutional buyers oversubscribed 170.1 times.
Price in gray market reaches 90% premium
There is strong demand for Dhanalakshmi Cross Science shares in the gray market. According to Investorgain.com, shares are available in the gray market at a premium of around Rs 50 over the upper price band. That means, according to price band Rs 55 and GMP Rs 50, its possible listing price is Rs 105. In this way, up to 90 percent earnings can be made in the shares on the first day. It is noteworthy that the shares of the company will be listed tomorrow on 16th December.
What is the business of the company?
Dhanalakshmi Crop Sciences is a seed company that develops, manufactures, processes and markets seeds for various regional crops and vegetables. This company is from the year 2005. The company’s revenue grew 37% to ₹ 63.75 crore in FY 2023-24 compared to a year ago. Profit after tax (PAT) increased by 55% to ₹ 4.65 crore during the period. For the six months ending September 2024, revenue was ₹120 crore and net profit was ₹8.2 crore.”,