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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.
Harshdeep Hortico IPO Details
| IPO Date | January 25, 2024 to January 30, 2024 |
| Listing Date | [.] |
| 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 Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Harshdeep Hortico IPO Timeline (Tentative Schedule)
Harshdeep Hortico IPO opens on January 25, 2024, and closes on January 30, 2024.
| IPO Open Date | Thursday, January 25, 2024 |
| IPO Close Date | Tuesday, January 30, 2024 |
| Basis of Allotment | Wednesday, January 31, 2024 |
| Initiation of Refunds | Thursday, February 1, 2024 |
| Credit of Shares to Demat | Thursday, February 1, 2024 |
| Listing Date | Friday, February 2, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on January 30, 2024 |
Harshdeep Hortico IPO Lot Size
Investors can bid for a minimum of 3000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| 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 Promoter Holding
Mr. Hitesh Chunilal Shah is the promoter of the company.
| Share Holding Pre Issue | 97.38% |
| Share Holding Post Issue |
Harshdeep Hortico Limited Financial Information (Restated)
| 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 | ||
Objects of the Issue (Harshdeep Hortico IPO Objectives)
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
