25-Jan-2024
2 mins read
Harshdeep Hortico Limited IPO 2024 is open for subscription from Monday, January 29, 2024 and will close on Wednesday, January 31, 2024. The price band is set at Rs 42 to Rs 45 per share. The minimum lot size of this application for the retail category is 3000 shares. Whereas, the minimum lot size for HNI category is 2 lots consisting of 6000 shares. The minimum amount of investment required for retail category investors is Rs 1,35,000. (45 x 3000 shares). However for HNI category the minimum investment amount is required Rs 2,70,000 (45 x 6000 shares). Harshdeep Hortico Limited IPO 2024 is a book-built issue of Rs 19.09 crores. The issue is an entirely fresh issue of 42.42 lakh equity shares. The allotment for this IPO is expected to be finalized on Thursday, February 1, 2024. Harshdeep Hortico IPO will list on BSE SME and listing date fixed on Monday, February 5, 2024. The book running lead manager of Harshdeep Hortico Limited is Hem Securities Limited. The registrar for this IPO is Link Intime India Private Limited. The market maker for the Harshdeep Hortico Limited IPO is Hem Finlease.
About Harshdeep Hortico Limited
Harshdeep Hortico is engaged in the business of designing, developing, manufacturing and supplying pots and planters for indoor and outdoor use. Company supplies various types of pots and planters like plastic indoor planters, Outdoor planters, Decorative planters, Illuminated planters, Roto moduled planters, Fiber Reinforced plastic planters etc.The company’s portfolio includes 500 different variants of pots, planters and related accessories. Currently, Harshdeep has two manufacturing units situated in Bhiwandi and Pune with an area of approximately 93,769 sq. feet and 40,000 sq. feet respectively. Furthermore, the company had three stores located in Delhi, Pune and Rajahmundry (Andhra Pradesh). It had distributors in Hyderabad, Kolkata, Chandigarh and Visakhapatnam. The company had an online presence via Amazon and Flipkart. The customer base is good and comes all over India and other overseas countries such as the UK, Nepal etc.
Objectives of the Issue
Harshdeep Hortico Limited IPO will help the company to raise funds from which it will repay its debt. Also, they will look for prepayments of borrowings. Other than this, the net proceeds from the issue will be utilized to meet the working capital requirements. Moreover, the funds will be used for the General corporate purposes like capital expenditure, acquisitions etc will also meet by net proceedings.
Financial Performance of Harshdeep Hortico Limited
As per the last updated report, Harshdeep Hortico Limited revenue is Rs 1,482.84 lakh and Net profit at Rs 177.24 lakh for the period ending on July 31, 2023.
| Period Ended | 31-Jul-23 | 31-Mar-23 |
| Assets | 3,059.49 | 4.89 |
| Revenue | 1,482.84 | |
| Profit After Tax | 177.24 | -0.27 |
| Net Worth | 1,325.82 | 4.73 |
| Reserves and Surplus | 1,318.85 | -0.27 |
| Total Borrowing | 636.82 | |
| Amt in Lakhs |
Other Important Details of Harshdeep Hortico Limited IPO
| IPO Date | January 29, 2024 to January 31, 2024 |
| Listing Date | 5-Feb-25 |
| Face Value | Rs 10 per share |
| Price Band | Rs 42 to Rs 45 per share |
| Lot Size | 3000 Shares |
| Total Issue Size | 4,242,000 shares (amounting to Rs 19.09 Cr) |
| Fresh Issue | 4,242,000 shares (amounting to Rs 19.09 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Shareholding pre issue | 11,852,060 |
| Shareholding post issue | 16,094,060 |
| Market Maker portion | 216,000 shares Hem Finlease |
Lot Size of Harshdeep Hortico Limited IPO
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 3000 | Rs 1,35,000 |
| Retail (Max) | 1 | 3000 | Rs 1,35,000 |
| HNI (Min) | 2 | 6000 | Rs 2,70,000 |
IPO Reservation of Harshdeep Hortico Limited
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Promoters of Harshdeep Hortico Limited
The Promoters of the Company are Mr. Hitesh Chunilal Shah.
Promoter Holdings
| Shareholding Pre Issue | 97.38% |
| Shareholding Post Issue | 71.72% |
Time Table of Harshdeep Hortico Limited IPO 2024
| IPO Open Date | Monday, January 29, 2024 |
| IPO Close Date | Wednesday, January 31, 2024 |
| Basis of Allotment | Thursday, February 1, 2024 |
| Initiation of Refunds | Friday, February 2, 2024 |
| Credit of Shares to Demat | Friday, February 2, 2024 |
| Listing Date | Monday, February 5, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on January 31, 2024 |
Lead Manager(s) of Harshdeep Hortico Limited IPO 2024
The lead manager for Harshdeep Hortico Limited IPO is Hem Securities Limited (Past IPO Performance)
How to Apply for Harshdeep Hortico Limited IPO 2024
Wait for the public issue to open for subscription, then click on this link to apply for the Harshdeep Hortico Limited IPO with Bigul https://ipo.bonanzaonline.com/.
How to Check Allotment Status of Harshdeep Hortico Limited IPO 2024
The registrar for Harshdeep Hortico Limited IPO is Link Intime India Private Limited. To check your allotment status, please click on this link https://linkintime.co.in/
FAQs
- What is Harshdeep Hortico Limited IPO 2024?
Harshdeep Hortico Limited IPO 2024 is a book-built issue of Rs 19.09 crores. The issue is an entirely fresh issue of 42.42 lakh equity shares. The price band is set at Rs 42 to Rs 45 per share.
- Who are the lead managers for the Harshdeep Hortico Limited IPO 2024?
Hem Securities Limited are appointed as the lead managers for the IPO.
- What is the role of Link Intime India Private Limited in this IPO?
Link Intime India Private Limited is the registrar for the Harshdeep Hortico Limited handling the IPO’s administrative aspects.
- How can I apply for the Harshdeep Hortico Limited IPO 2024?
Wait for the public subscription of this IPO to begin. Visit Bigul website for the application process.
- How will the net proceeds from the IPO be utilized?
The net proceeds from the issue will be utilized to meet the working capital requirements. Moreover, the funds will be used for the General corporate purposes like capital expenditure, acquisitions etc.
- How can I check the allotment status of the IPO?
You can check the allotment status of the Harshdeep Hortico Limited IPO 2024 by visiting https://linkintime.co.in/
- What is the financial performance of Harshdeep Hortico Limited?
As per the last updated report, Harshdeep Hortico Limited revenue is Rs 1,482.84 lakh and Net profit at Rs 177.24 lakh for the period ending on July 31, 2023.