Harshdeep Hortico Limited IPO Detail
Harshdeep Hortico Limited designs, manufactures, and supplies pots and planters for indoor and outdoor use.
The company's product portfolio includes indoor plastic planters, outdoor planters, illuminated planters, decorative planters, roto-moulded planters, fiber-reinforced plastic (FRP) planters, eco-series planters, etc. and related accessories such as garden hose pipes and water canisters.
Recently, the company also entered the field of Roto Moulded Outdoor Furniture.
Harshdeep Hortico has two manufacturing facilities in Bhiwandi and Pune with an area of approximately 93769 sq. ft. and 40000 sq. ft. respectively. The company has three stores in Delhi, Pune (Maharashtra) and Rajahmundry (Andhra Pradesh) and four distributors in Hyderabad, Kolkata, Chandigarh and Visakhapatnam. The company also has an online presence via Amazon and Flipkart as well as social media platforms such as Facebook and Instagram.
The company's customers come from 27 states and union territories in India as well as overseas countries such as Djibouti, East Africa, the United Kingdom, Nepal, etc.
As on September 30, 2023, the company had over 125 employees.
Company Promoters
Mr. Hitesh Chunilal ShahIPO Details
| IPO Opening Date | Jan 29, 2024 |
| IPO Closing Date | Jan 31, 2024 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹42 - 45 per equity share |
| Market Lot | 3000 Shares |
| Min Order Quantity | 3000 Shares |
| Listing At | BSE SME |
| Issue Size | ₹19.09 Cr |
| Fresh Issue | ₹19.09 Cr |
| Offer for Sale | - |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 8.72x | - | - | 1.44x | 3.10x | 3.16x |
| Day 2 | 14.32x | - | - | 17.03x | 21.46x | 19.59x |
| Day 3 | 213.53x | - | - | 181.95x | 98.25x | 131.69x |
IPO Tentative Timetable
The Harshdeep Hortico Limited IPO open date is Jan 29, 2024, and the close date is Jan 31, 2024. The issue may list on Feb 05, 2024.
| IPO Open Date | Jan 29, 2024 |
| IPO Close Date | Jan 31, 2024 |
| Basis of Allotment Date | Feb 01, 2024 |
| Initiation of Refunds | Feb 02, 2024 |
| Credit of Shares to Demat Account | Feb 02, 2024 |
| IPO Listing Date | Feb 05, 2024 |
IPO Lot Size
The Harshdeep Hortico Limited IPO market lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or ₹135000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 3000 | ₹135000 |
| Maximum | 1 | 3000 | ₹135000 |
IPO Promoter Holding
| Pre Issue Share Holding | 97.38% |
| Post Issue Share Holding | 71.72% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-23 | 4.89 | -0.27 | |
| 31-Jul-23 | 3059.49 | 1482.84 | 177.24 |
Objects of the Issue:
The company intends to utilize the proceeds of the Issue to meet the following objects:
- Repayment and/or pre-payment, in full or part, of certain borrowings availed by the company
- To meet Working Capital requirements
- General Corporate Purpose
Harshdeep Hortico Limited IPO Registrar:
Link Intime India Private Ltd
Harshdeep Hortico Limited IPO Lead Manager(s):
Hem Securities Limited
Company Contact Information:
Harshdeep Hortico Limited
Building No.1 Shree Sai Logistics,
Survey No.18/2E 18/2P 17/2A, 17/2B Part,
Elkunde, Bhiwandi, Thane - 421302
