Harshdeep Hortico IPO: Check Out Price Band, Issue Size & More
by Sandip Das on 29 January 2024, 4 min read
Harshdeep Hortico, the manufacturer of planters, opened its initial public offering (IPO) for subscription on January 29, 2024. The issue is scheduled to close on January 31, 2024. The price band for the upcoming IPO has been set at Rs 42 to Rs 45 per share.
Qualified Institutional Buyers (QIB) have a reservation of around 50 percent of the net offer, while not less than 35 percent is reserved for retail investors. High Net Worth Individual (HNI) investors, also known as NII, have a reservation of not less than 15 percent of the offer.
About the company:
Harshdeep Hortico Limited designs, manufactures, and supplies pots and planters for indoor and outdoor use. The company’s product portfolio encompasses a variety of items, including indoor plastic planters, outdoor planters, illuminated planters, decorative planters, roto-moulded planters, fiber-reinforced plastic (FRP) planters, eco-series planters, and more. Additionally, the company offers related accessories such as garden hose pipes and water canisters.
The price band for the upcoming IPO has been set at Rs 42 to Rs 45 per share.
The issue comprises an entirely fresh offering of 42.42 lakh shares, and investors have the opportunity to bid for a minimum lot size of 3000 shares.
IPO Reserve Portion
Qualified Institutional Buyers (QIB): Not less than 50% of the net offer
Retail investors: Not less than 35%
Non-institutional investors: Not less than 15%
Objectives of the Issue
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.
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