Harshdeep Hortico IPO will open for subscription from 29 January 2024. The company aims for an issue size of ₹19.09 Cr through this IPO.
Company Overview
| Full name | Harshdeep Hortico Limited |
| Sector | Plastic Products |
| Industry | Plastic Products |
| Company Website | https://harshdeepindia.com/ |
About Company
Harshdeep Hortico specializes in designing, manufacturing, and supplying various pots and planters, including plastic Indoor Planters, Outdoor Planters, Illuminated Planters, Decorative Planters, Roto Moulded Planters, Fiber Reinforced Plastic (FRP) Planters, Eco series Planters. The company also offers related accessories like Garden Hose Pipes and Water Can and has recently entered the field of Roto Moulded Outdoor Furniture. As of 30 September 2023, the company employs around 125 individuals, including semi-skilled staff, across different organizational levels.
Harshdeep Hortico operates manufacturing units in Bhiwandi and Pune, covering approximately 93,769 sq. ft. and 40,000 sq. ft. respectively. The company has stores in Delhi, Pune (Maharashtra), and Rajahmundry (Andhra Pradesh), along with distributors in Hyderabad, Kolkata, Chandigarh, and Visakhapatnam. Providing an Omni-channel experience, customers can access their products through the website, online marketplaces like Amazon and Flipkart, and social media platforms like Facebook and Instagram.
The company’s customer base extends across 27 states and union territories in India and also includes international patrons from countries like Djibouti, East Africa, the United Kingdom, Nepal, and more. In fiscal years 2022 and 2023, export revenue amounted to INR 70.25 lakhs and INR 75.58 lakhs, constituting 2.02% and 1.85% of its overall revenue for the respective fiscal periods.
The Objectives of the Issue
- 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 IPO Timetable
| IPO Opening date | 29 January 2024 |
| IPO Closing | 31 January 2024 |
| Basis of Allotment | 01 February 2024 |
| Initiation Refund | 02 February 2024 |
| Credit to Demat Account | 02 February 2024 |
| Listing Date | 05 February 2024 |
Harshdeep Hortico IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹19.09 Cr – 4,242,000 shares |
| Fresh Issue | ₹19.09 Cr – 4,242,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹42 to ₹45 per share |
| Lot size | 3000 Shares |
| Market Maker portion | 216,000 shares |
| Shareholding pre-issue | 11,852,060 |
| Shareholding post-issue | 16,094,060 |
| Listing Exchange | BSE SME |
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 Details
| 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 Financial Performance
| FY 2023 | 4M FY 2024 | |
| Revenue | – | 1,481.05 |
| Expenses | 0.27 | 1,245.98 |
| Net income | (0.27) | 177.24 |
Harshdeep Hortico Valuations & Margins
| FY 2023 | 4M FY 2024 | |
| EPS | – | 1.50 |
| PE ratio | – | 28 – 30 |
| RONW (%) | – | 13.37 |
| NAV | 0.04 | 11.19 |
| ROCE (%) | 0.00 | 12.28 |
| EBITDA (%) | – | 19.27 |
| Debt/Equity | – | 0.48 |
Company Promoters
- Mr. Hitesh Chunilal Shah
Promoter Holding
| Pre Issue Share Holding | 97.38% |
| Post Issue Share Holding | 71.72% |
Harshdeep Hortico IPO Lead Manager(s)
HEM SECURITIES LIMITED
904, A Wing, Naman Midtown, Senapati Bapat Marg,
Elphinstone Road, Lower Parel, Mumbai-400013, India
Phone: +91- 022- 49060000
Email: ib@hemsecurities.com
Website: www.hemsecurities.com
Harshdeep Hortico Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949
Email: harshdeephortico.ipo@linkintime.co.in
Website: www.linkintime.co.in
Harshdeep Hortico Contact Details
HARSHDEEP HORTICO LIMITED
Building No.1 Shree Sai Logistics,
Survey No.18/2E 18/2P 17/2A, 17/2B Part,
Elkunde, Bhiwandi, Thane- 421302, Maharashtra
Phone: +91-94245-0422
E-mail: cs@harshdeepindia.com
Website: www.harshdeepindia.com
Harshdeep Hortico IPO Allotment Status
Harshdeep Hortico IPO allotment status is now available on Link Intime’s website. Click on Link Intime IPO weblink to get allotment status.
Final thoughts
Harshdeep Hortico IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
