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Seedworks International IPO

Seedworks International IPO

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Seedworks International IPO Details

Issue Date

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Price Range

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Lot Size

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IPO Size

N/A

Schedule of Seedworks International IPO

Start date

End date

Allotment of bids

Refund Initiation

Listing on exchange

About Seedworks International Ltd IPO

The IPO of Seedworks International Ltd is a 100% book-built offer. The IPO has no fresh issue but only an offer for sale up to 51,970,282 equity shares of face value of ₹2 each.

Objectives of Seedworks International Ltd IPO

The selling shareholders will be entitled to the entire proceeds of the offer after deducting their respective portion of the offer expenses and relevant taxes thereon. The company will not receive any proceeds from the offer and all proceeds will be received by the selling shareholders.

Seedworks International Ltd IPO Valuation

Seedworks International Ltd IPO Share Offer and Subscription Offer

Industry Outlook

The global seed industry has grown at a CAGR of 2.8% from 2018 and is estimated to be valued at USD 49.2 billion in 2024. The growth in the industry is attributed to increasing demand of food with growing population, trend of using branded seeds over saved seeds, companies expanding their global footprints and innovations in the seed technologies. Further the industry is forecasted to reach USD 68 Billion by 2030 with a CAGR of 5.5%.

Company Information

Seedworks International Ltd is a seed research and development company engaged in research, production and marketing of hybrid seeds for rice, cotton, pearl millet, mustard, vegetables and fruits and open-pollinated variety (OPV) seeds for rice, wheat and mustard.

It’s the second fastest growing Indian seed company in terms of revenues between Fiscal 2021 and Fiscal 2024 with a CAGR of 11.98%. The company is ranked third in cotton seeds, fourth in hybrid rice, and fourth in pearl millet seeds, each in terms of volume of seeds sold in India in Fiscal 2024.

Second Fastest Growing Seed Company in India, with Demonstrated History in Expanding Crop Portfolio and Commanding a Leading Position in Key Crop Categories across India, the Philippines and Nepal

Seedworks International Ltd is the second fastest growing seed company in India in terms of revenues between Fiscal 2021 and Fiscal 2024, amongst the peers. The company has over the years established leadership positions in key product categories. It’s ranked third in cotton seeds, fourth in hybrid rice, and fourth in pearl millet seeds, each in terms of volume of seeds sold in India in Fiscal 2024.

Robust Research and Development Capabilities Backed by Advanced Technology Infrastructure and Collaborations

The company’s R&D-driven approach, combined with its extensive experience and strategic collaborations, positions it uniquely to overcome potential barriers in the seeds industry. High entry barriers include long development cycles, with typical cycles for R&D, product development and testing spanning six to seven years, and need for a substantial and diversified germplasm pool.

Differentiated Products with Deep Farmer Connect Resulting in Strong Brand Equity

The company’s differentiated products with superior attributes have led to strong brand equity with farmers. Seed quality, superior traits and brand play a crucial role as farmers, being very discerning customers, tend to stick to the same seed suppliers if they are happy with a particular product.

Risks of Seedworks International Ltd

  • Exposure to Weather Conditions, Crop Diseases, and Pest Attacks: The company’s business is sensitive to weather conditions, crop diseases and pest attacks. Any adverse conditions, diseases or pest attacks may adversely impact its product portfolio, which could have an adverse impact on its business prospects, results of operations, financial condition and cash flows.

  • Dependence on Grower Farmers and Risks in Network Management: The company relies on its network of grower farmers to provide it with hybrid seeds for our production process, and an inability to effectively manage this network may have an adverse effect on its business, operations and cash flows.

  • Seasonality of Business and Fluctuations in Financial Performance: The company’s business is seasonal in nature and its results of operations and cash flows may fluctuate on a quarterly or seasonal basis.

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Comparison with peers

Anchor Investor Bidding Date TBA

IPO Registrar and Book Running Lead Managers

  • Registrar: KFin Technologies Ltd
  • Book Running Lead Managers: Equirus Capital Private Limited, DAM Capital Advisors Ltd and SBI Capital Markets Ltd

Business Model

Seedworks International Ltd is a seed research and development company. It’s into research, production and marketing of hybrid seeds. Its product offerings are an outcome of its R&D pipeline, with 10 field crops and 28 vegetable hybrids in advanced stages of commercialisation, as of September 30, 2024.

Company Growth Trajectory

The company’s revenue from operations jumped from ₹457.158 crores in FY 22 to ₹522.688 crores in FY 24. Its total income grew from ₹460.837 crores in FY 22 to ₹527.170 crores in FY 24.

Seedworks International Ltd Profit and Loss

Seedworks International Ltd Balance Sheet

How to Check Allotment Status of Seedworks International Ltd IPO?

  • Visit the Registrar’s Website

Visit the official website of KFin Technologies Ltd and click on any one of the links. Choose the IPO name followed by application number, Demat account or PAN. Enter captcha and click on Submit to know the status.

  • Check on Bombay Stock Exchange Website

The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to www.bseindia.com and find the 'Investors' tab. Under 'Investors', click on 'IPO'. This will take you to the IPO allotment status page. On the BSE IPO page, follow these steps:

  • Select 'Equity' from the dropdown menu

  • Choose 'Seedworks International Ltd' in the next dropdown

  • Enter your application number

  • Enter your PAN

  • Click 'Search’ to know allotment status

  • Verify on the National Stock Exchange Website

The National Stock Exchange (NSE) has an IPO Bid Verification module. You can use it to check the status of Seedworks International Ltd IPO. Go to www.nseindia.com and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'. On the NSE IPO Bid Verification page, enter:

  • Application number
  • PAN

Then click 'Submit' to know the allotment status.

How to Apply for Seedworks International Ltd?

  • Log in to your Kotak Neo Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
  • Specify IPO details - Enter the number of lots and the price you wish to apply for.
  • Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
  • Mandate Notification - Your UPI app will receive a mandate notification to block funds.
  • Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.

Seedworks International IPO FAQs

The Seedworks International IPO opens for subscription from [-] to [-], with a total issue size of [-]. The IPO price band is ₹[-] per share with a lot size of [-]. The company aims to list the shares on BSE & NSE on [-].

The Seedworks International IPO will open for subscription on [-] and will close on [-] for investors.

The minimum lot size for the Seedworks International IPO is [-] equity shares, requiring a minimum investment of ₹[-] for retail investors applying in the IPO.

The price band of the Seedworks International IPO has been fixed at ₹[-] per equity share.

You can apply for the Seedworks International IPO online through the Kotak Neo Website or the Kotak Neo App using UPI or ASBA during the IPO subscription period.

Seedworks International IPO allotment will take place on [-].

You can check the Seedworks International IPO allotment status online on the registrar’s website or on the NSE and BSE IPO allotment pages using your application number, PAN, or demat account details.

Seedworks International shares will list on the stock exchanges on [-].

The Seedworks International Ltd IPO comprises only an offer for sale of up to 51,970,282 equity shares. It is a 100% book-built offer with no fresh issue.

The exact dates of the IPO are yet to be announced.

Dr. Venkatram Vasantavada is the MD and CEO of Seedworks International Ltd.

You can read more about the IPO of Seedworks International Ltd from the company’s draft red herring prospectus here.

This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Neo Research Team, nor is it a report published by the Kotak Neo Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI-prescribed Combined Risk Disclosure Document before investing. Brokerage will not exceed SEBI’s prescribed limit.

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