Active Stocks
Tue Apr 23 2024 15:59:47
  1. Tata Steel share price
  2. 161.10 -0.46%
  1. Tata Motors share price
  2. 986.60 1.34%
  1. NTPC share price
  2. 346.90 1.12%
  1. Bharti Airtel share price
  2. 1,342.30 3.38%
  1. HDFC Bank share price
  2. 1,507.20 -0.34%
Business News/ Markets / Ipo/  Harshdeep Hortico IPO: From subscription status to GMP, all you need to know
BackBack

Harshdeep Hortico IPO: From subscription status to GMP, all you need to know

The initial public offering (IPO) of Harshdeep Hortico opened for subscription today, January 29, 2024, and will close on Wednesday, January 31, 2024. The price band for the issue has been set in the range of ₹42-45 per share.

The initial public offering (IPO) of Harshdeep Hortico opened for subscription today, January 29, 2024, and will close on Wednesday, January 31, 2024. The price band for the issue has been set in the range of ₹42-45 per share.Premium
The initial public offering (IPO) of Harshdeep Hortico opened for subscription today, January 29, 2024, and will close on Wednesday, January 31, 2024. The price band for the issue has been set in the range of 42-45 per share.

The initial public offering (IPO) of Harshdeep Hortico opened for subscription today, January 29, 2024, and will close on Wednesday, January 31, 2024. The price band for the issue has been set in the range of 42-45 per share.

Harshdeep Hortico IPO subscription status

The issue has continued witnessing exceptional subscriptions on the final day of bidding. At 4:00 pm, the IPO was subscribed a massive 126.69 times on the 3rd day of subscription. It has received bids for 28.12 crore shares as against 22.20 lakh shares on offer. The IPO was subscribed 3.16 times on Day 1 and 19.59 times on Day 2.

 The QIB portion was booked the most, 213.53 times followed by the NII category, which was subscribed by 181.28 times. Meanwhile, the retail investor quota was bid 90.67 times till now.

Read here: Mayank Cattle Food IPO: Check GMP, subscription status on day 1, other details

Harshdeep Hortico IPO GMP today

The company's shares were trading at a premium of 20 in the grey market, indicating a 44.44  percent rise versus the IPO price at listing. It rose from 15 in the previous session (January 30, 2024) and 12 on January 29, 2024.

However, one must note that grey market premium is only an indicator of how the company's shares are performing in the unlisted market and can change quickly.

Harshdeep Hortico IPO details

The 19.09 crore IPO is entirely a fresh issue of 42.42 lakh shares with no offer-for-sale component.

Read here: Multibagger SME stock turns 1 lakh an allottee into 4.41 lakh in 5 years

The company intends to utilise the proceeds of the issue for repayment and/or pre-payment, in full or part, of certain borrowings availed by the company, to meet working capital requirements and for general corporate purposes.

Investors can bid for a minimum lot size of 3,000 shares. The minimum amount of investment required by retail investors is 1.35 lakh. The minimum lot size investment for HNI is 2 lots (6,000 shares) amounting to 2.7 lakh.

Around 50 percent of the net offer is reserved for Qualified Institutional Buyers (QIBs), not less than 35 percent is reserved for retail investors and not less than 15 percent of the offer is booked for Non-Institutional Investors (NIIs).

Read here: Qualitek Labs shares make stellar debut; stock lists with 90% premium at 190

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's IPO is Hem Finlease.

The allotment for the Harshdeep Hortico IPO is expected to be finalised on Thursday, February 1, 2024. The IPO will list on BSE SME with the tentative listing date as Monday, February 5, 2024.

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 annualised FY24 earrings, the issue appears fully priced. Well-informed/cash surplus investors may park moderate funds for medium-term rewards, said Dilip Davda, Contributing Editor at Chittorgarh.com.

Read here: Italian Edibles IPO announces price band at 68 apiece; check details

About Harshdeep Hortico

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-molded planters, fiber-reinforced plastic (FRP) planters, eco-series planters, etc., and related accessories such as garden hose pipes and water canisters.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 29 Jan 2024, 02:32 PM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App