Characterization and development of cultivation technology of wild split gill Schizophyllum commune mushroom in India

•Recycling of agricultural residues into economically and nutritionally viable mushrooms stands enormous opportunity.•The wild mushroom Schizophyllum commune can be easily cultivated on large scale upon optimization of agro-based substrates.•A wild germplasm of S. commune was collected, isolated and identified through morphological, anatomical, cultural and molecular characterization.•The nutritional content of S. commune collected in wild as well grown on substrate was analysed.•The collected isolate cultivation was also standardized on different agricultural residues where the mushroom was able to decompose cellulose, lignin and other components from the substrates.•This is the first report of the cultivation of this species on lignocellulosic waste from India which turns it into a promising species for commercial production.