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02 May 2024

Harshdeep Hortico Limited IPO

Harshdeep Hortico Limited manufactures, designs, and supplies indoor and outdoor pots. The Company offers various types of pots and planters made from recyclable materials, as well as related accessories like garden hose pipes and water cans. Apart from this, recently it has also entered into the field of Roto Moulded Outdoor Furniture. Prior to this, it was operational as a proprietorship firm. Harshdeep Hortico IPO is a book built issue of Rs 19.09 crores. The issue is entirely a fresh issue of 42.42 lakh shares.

Harshdeep Hortico IPO bidding started from January 29, 2024 and ended on January 31, 2024. Harshdeep Hortico IPO price band is set at ₹42 to ₹45 per share. The minimum lot size for an application is 3000 Shares. Hem Securities Limited is the book running lead manager of the Harshdeep Hortico IPO, while Link Intime India Private Ltd is the registrar for the issue. The market maker for Harshdeep Hortico IPO is Hem Finlease.

Harshdeep Hortico IPO Overview

Detail	Description
IPO Date	January 29, 2024 to January 31, 2024
Listing Date	February 5, 2024
Face Value	₹10 per share
Price Band	₹42 to ₹45 per share
Lot Size	3000 Shares
Total Issue Size	4,242,000 shares (aggregating up to ₹19.09 Cr)
Fresh Issue	4,242,000 shares (aggregating up to ₹19.09 Cr)
Issue Type	Book Built Issue IPO
Listing At	BSE SME
Share holding pre issue	11,852,060
Share holding post issue	16,094,060
Market Maker portion	216,000 shares

Harshdeep Hortico IPO Timeline (Tentative Schedule)

Detail	Description
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

Harshdeep Hortico IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	3000	₹135,000
Retail (Max)	1	3000	₹135,000
HNI (Min)	2	6,000	₹270,000

Harshdeep Hortico IPO Reservation

Investor Category	Shares Offered
Anchor Investor Shares Offered	1,206,000 (33.11%)
Market Maker Shares Offered	216,000 (5.93%)
QIB Shares Offered	204,000 (5.60%)
NII (HNI) Shares Offered	606,000 (16.64%)
Retail Shares Offered	1,410,000 (38.71%)
Total Shares Offered	3,642,000 (100%)

Harshdeep Hortico IPO Promoter Holding

Share Holding Pre Issue	97.38%
Share Holding Post Issue	71.72%

Harshdeep Hortico IPO Anchor Investors Details

Bid Date	January 25, 2024
Shares Offered	1,206,000
Anchor Portion Size (In Cr.)	5.43
Anchor lock-in period end date for 50% shares (30 Days)	March 2, 2024
Anchor lock-in period end date for remaining shares (90 Days)	May 1, 2024

Company & Financials

Harshdeep Hortico Limited was originally incorporated as a Limited Company under the name 'Harshdeep Hortico Limited' on December 30, 2022 under the provisions of the Companies Act, 2013 with the Registrar of Companies, Mumbai, Maharashtra. The company's product portfolio includes indoor plastic planters, outdoor planters, illuminated planters, decorative planters, roto-molded planters, fiber-reinforced plastic (FRP) planters, eco-series planters, etc. and related accessories such as garden hose pipes and water canisters. The company has two manufacturing units, 1 at Bhiwandi, Thane and 1 at Boriaind, Daund, Pune (both in Maharashtra). It has three stores located in Delhi, Pune and Rajahmundry. It also has 4 exclusive distributors in Hyderabad, Kolkata, Chandigarh and Visakhapatnam. The company is also present on Omni-channel with its own website and various online marketplaces like Amazon, Flipkart and social media like Facebook, Instagram to market its products. Currently, it markets its products in 27 states and Union Territories. Its major revenue comes from Maharashtra.

Harshdeep Hortico Limited Financial Information

Period Ended	31 Jul 2023	31 Mar 2023
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
Amount in ₹ Lakhs

Key Performance Indicator

	Pre IPO	Post IPO
EPS (Rs)	0	3.3
P/E (x)	0	13.62

Objectives of Harshdeep Hortico IPO

The company intends to utilize the proceeds of the Issue to meet the following objectives:

1. Repayment and/or pre-payment, in full or part, of certain borrowings availed by the company.
2. To meet Working Capital requirements.
3. General Corporate Purpose.

Harshdeep Hortico IPO Review

The company is operating in a highly competitive and fragmented segment. It marked growth in its top lines for the reported periods, but witnessed pressure on margins. Based on its annualized FY24 earrings, the issue appears fully priced. Well-informed/cash surplus investors may park moderate fund for medium term rewards.

FAQs for Harshdeep Hortico IPO

What Is The Allotment Date Of The Harshdeep Hortico IPO?

The allotment date of the Harshdeep Hortico IPO is January 31, 2024.
What Is the Price Band of Harshdeep Hortico’s IPO?

The price band of Harshdeep Hortico IPO is INR 42-45 per share.
What Is The Size Of The Harshdeep Hortico IPO?

The Harshdeep Hortico IPO issue includes a fresh Issue of up to 42,42,000 equity shares of the company. The company intends to use the funds raised to repay/prepay loans, fulfill working capital needs, and address general corporate purposes.
What Is The Listing Date Of The Harshdeep Hortico IPO?

The listing of the Harshdeep Hortico IPO date is February 5, 2024.