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:

  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