Harshdeep Hortico was incorporated on 30 December 2022. The company is primarily engaged in the business of designing, developing, manufacturing, and supplying various types of pots and planters, such as plastic indoor planters, outdoor planters, illuminated planters, decorative planters, roto moulded planters, fiber reinforced plastic planters, eco series planters, etc., along with related accessories like garden hose pipes & water cans. Apart from this, it has also recently entered into the field of roto moulded outdoor furniture.
| Bidding Dates |
|---|
| 29 Jan 2024 - 31 Jan 2024 |
| Subscription |
|---|
| 96.36x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,26,000 | 1 | 1 | 3000 | 4.2 M | ₹42 - ₹45 | 71.72 % | ₹178.2 M - ₹190.9 M | RHP DOC |
Harshdeep Hortico IPO SUBSCRIPTION STATUS
31 Jan '24Harshdeep Hortico IPO overall subscription rate was 96.36 times the total available shares
Harshdeep Hortico IPO retail subscription rate was 98.25 times in the retail segment
Harshdeep Hortico IPO non-institutional investor subscription rate was 134.4 times in the non-institutional investor category
Harshdeep Hortico IPO Qualified Institutional Bidder subscription rate was 54.18 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
- | - | - | - |
31 Jan 2024 (Day 4) | 98.25x | 134.4x | 54.18x |
30 Jan 2024 (Day 3) | 8.08x | 2.91x | 2.21x |
29 Jan 2024 (Day 2) | 3.1x | 1.06x | 2.21x |
Harshdeep Hortico FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 4MFY24 | 17.7 | 148.1 | 10.9 | 4.4 | 19.3% |
| FY23 | 0.0 | - | 0.0 | 0.0 | - |
Harshdeep Hortico IPO SUBSCRIPTION STATUS DETAILS
Harshdeep Hortico had 4.2 M shares on offer
Harshdeep Hortico IPO offer price was in the range ₹42 - ₹45
Harshdeep Hortico IPO minimum Investment was ₹126000
Harshdeep Hortico IPO issue size was ₹ 178.2 M - ₹ 190.9 M
Harshdeep Hortico had a minimum lot size of 3000 Shares per application
Harshdeep Hortico NUMBER OF SHARES ON OFFER
Harshdeep Hortico IPO IMPORTANT DATES
| Issue Open Date | 29 Jan 2024 |
| Issue close Date | 31 Jan 2024 |
| Allotment Date | 01 Feb 2024 |
| Refund Date | 02 Feb 2024 |
| Demat Account Credit Date | 02 Feb 2024 |
| Listing Date | 05 Feb 2024 |
| Listing on Exchange(s) | BSE |
| Harshdeep Hortico Allotment Status | Exchange |
Harshdeep Hortico IPO subscription opened on 29 Jan 2024, and closed on 31 Jan 2024
IPO allotment for Harshdeep Hortico was finalized on Thursday, 01 Feb 2024
IPO listing for Harshdeep Hortico was on BSE on Monday, 05 Feb 2024
Harshdeep Hortico IPO LISTING GAINS
| Issue Price (adjusted) | 45.0 |
| Listing Open Price | 70.0 |
| Listing Close Price | 66.5 |
| Listing Gain% | 55.6% |
| Current Gain% | 82.6% |
Harshdeep Hortico Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Harshdeep Hortico Ltd. | 82.2 | 132.2 | 10.6 | 0.4 | 1.9 | 20.9 | 15.5 | 68.7 | 21.8 | 12.5 | 29.1 | 7.8 | 29.1 |
| LT Foods Ltd. | 427.6 | 14846.8 | 23.2 | 7.3 | 1.3 | 13.8 | 6.9 | 11023.1 | 25.7 | 625.4 | 3.3 | 18.4 | 3.2 |
| Godrej Agrovet Ltd. | 542.8 | 10442.3 | 23.4 | -12.8 | 1 | 23.3 | 7.7 | 10338.5 | 9.7 | 472.8 | 10 | 23.2 | -1.8 |
| KRBL Ltd. | 378.6 | 8666.9 | 13.4 | 0.4 | 1.4 | 11.2 | 9.8 | 6168.2 | 9.1 | 648 | 36.1 | 28.3 | 36.1 |
| Gujarat Ambuja Exports Ltd. | 169.2 | 7761.6 | 18.7 | 0.2 | 1.3 | 9.2 | 7.3 | 5835.8 | 24.3 | 304.3 | 22 | 9.1 | 75.1 |
| Kaveri Seed Company Ltd. | 764.4 | 3932.3 | 13.3 | 2.6 | 2.8 | 16.8 | 10.7 | 1424.1 | 13.8 | 295.8 | 5.2 | 57.5 | 5.2 |
Harshdeep Hortico INFORMATION ON IPO ISSUE
About Harshdeep Hortico
Harshdeep Hortico was incorporated on 30 December 2022. The company is primarily engaged in the business of designing, developing, manufacturing, and supplying various types of pots and planters, such as plastic indoor planters, outdoor planters, illuminated planters, decorative planters, roto moulded planters, fiber reinforced plastic planters, eco series planters, etc., along with related accessories like garden hose pipes & water cans. Apart from this, it has also recently entered into the field of roto moulded outdoor furniture.
Object 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 - PROMOTERS
| Name |
|---|
| Hitesh Chunilal Shah |
Harshdeep Hortico Lead Manager of the Issue
Hem Securities Limited
ib@hemsecurities.com
Harshdeep Hortico Registrar to the Issue
Link Intime India Private Limited
harshdeephortico.ipo@linkintime.co.in
Harshdeep Hortico Strengths
Diverse product portfolio
The company has a diverse product portfolio across various segments of pots and planters, which includes roto moulded series, grower series, indoor series, FRP series, illuminated planters, etc., along with related accessories
Focus on quality
The company has accreditation with ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 for its quality management system, an assurance of the quality and durability of the products
Revenue from multiple geographies
The company generates revenue from multiple geographical locations across various states in India. For the period from 1 April 2023 to 31 July 2023, it has generated around 88.9% of its total revenue from sales in the top 10 geographical regions in India
Harshdeep Hortico Risks
Price sensitive industry
The company operates in a price-sensitive industry wherein the purchasing decisions of consumers are highly influenced by the product price. Its inability to continue to offer the products at competitive prices may adversely affect its business
Faces competition
The company faces competition from other large and established competitors, and it may fail to compete successfully against existing or new competitors
Indebtedness
The company has incurred indebtedness, which exposes it to various risks that may have an adverse effect on the business and results of operations
IPO FAQs
The promoter of the company is Hitesh Chunilal Shah.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 42.0 - 45.0.
The IPO application opens on Jan 29, 2024 and closes on Jan 31, 2024.
The minimum lot size for the IPO is 3000. The maximum lot size for the IPO is 3000.
For all category investors, the minimum application amount for this IPO is Rs. 126,000.0, the maximum value for this IPO is Rs 135,000.0.
This IPO will be allotted on Feb 01, 2024.
The refund will be credited to your account on Feb 02, 2024.
The allotted shares will be credited to your demat on Feb 02, 2024.
Harshdeep Hortico Ltd.’s shares listed on the stock exchanges on Feb 05, 2024.