Dhanwel Hybrid Seeds IPO Day 2 Live: Retail jumps 50%, Total at 0.04x - Check details
Dhanwel Hybrid Seeds IPO is at 0.04x subscription on Day 2. Retail category leads with 0.06x, up 50% intra-day. QIB remains unsubscribed. The agricultural seed company raised funds for debt repayment and working capital. The issue closes on August 21, 2026.
*this image is generated using AI for illustrative purposes only.
Dhanwel Hybrid Seeds IPO subscription has ticked up to 0.04x on Day 2, with Retail investors showing early interest at 0.06x. However, Qualified Institutional Buyers (QIB) have not yet subscribed, keeping the overall momentum cautious. The issue, priced between ₹95.00000 and ₹99.00000, continues its run until August 21, 2026.
Subscription Status
The subscription numbers for Day 2 show a slow start, with the total subscribed standing at 0.04x. Retail investors are currently leading the pack, having jumped +50.0% today from 0.04x to 0.06x. NII (bHNI) remains steady at 0.03x, while NII (sHNI) shows minimal activity at 0.03x. QIB remains at 0x.
| Category | Subscription Multiple |
|---|---|
| QIB | 0.00x |
| NII (bHNI) | 0.03x |
| NII (sHNI) | 0.03x |
| Retail | 0.06x |
| Total | 0.04x |
Intra-day Timeline (19-08-2026)
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 05:45 | 0.00x | 0.03x | 0.04x | 0.03x |
| 06:45 | 0.00x | 0.03x | 0.06x | 0.04x |
Subscription Progression
| Day | Date | QIB | NII (bHNI) | NII (sHNI) | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 | 18-08-2026 | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Day 2 | 19-08-2026 | 0.00x | 0.03x | 0.03x | 0.06x | 0.04x |
About the Company
Dhanwel Hybrid Seeds operates in the agricultural seed business, procuring improved genetic seed material for production through contractual arrangements with farmers. Founded in 2024, the company offers a diverse portfolio including oil seeds, pulses, spices, and vegetable seeds. It is led by MD Mr. Kishankumar Gordhanbhai Meghani and CEO Mr. Vimal Mansukhbhai Vekariya.
Financial Highlights
The company has seen significant revenue growth, rising from ₹35.49 crores in FY2024 to ₹74.59 crores in FY2026. Profit after tax also increased from ₹1.91 crores to ₹6.12 crores over the same period.
| Particulars | FY2024 (₹ crores) | FY2025 (₹ crores) | FY2026 (₹ crores) |
|---|---|---|---|
| Revenue from Operations | 35.49 | 44.13 | 74.59 |
| Total Profit (PAT) | 1.91 | 2.16 | 6.12 |
| Total Equity | 3.65 | 13.27 | 19.66 |
Objects of the Issue
- Repayment or prepayment of borrowings: ₹7.60 crores towards repayment of bank borrowings.
- Funding working capital requirements: ₹11.60 crores to fund inventories and trade receivables.
- General Corporate Purposes: Utilization for general corporate needs as per regulatory limits.
Risk Factors
- Seasonality and Climatic Dependency: Demand is heavily dependent on monsoon patterns and rainfall timing.
- Customer Concentration Risk: Top ten customers accounted for 64.27% of revenue in Fiscal 2026.
- Negative Cash Flow from Operations: The company reported negative operating cash flows in Fiscal 2026 and 2025.
Offer Details
- Price Band: ₹95.00000 - ₹99.00000
- Issue Size: 228000 - 500000
- Min Bid Qty: 2400
- Open Date: 2026-08-19
- Close Date: 2026-08-21
Will the absence of Qualified Institutional Buyer (QIB) interest by Day 2 signal a potential under-subscription risk for the final allotment?
How might the company's reliance on top customers for over 64% of revenue impact investor confidence given the current cautious subscription momentum?
Could the negative operating cash flows in FY2025 and FY2026 deter retail investors from increasing their participation before the August 21 closing?
17
Access 50+ Readymade Screeners 
Use 200+ Custom Filters 
Get Full Market Insights 
