February 18, 2024
Harshdeep Hortico IPO Witnesses Strong Demand, Subscribed 126.69 Times
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Harshdeep Hortico IPO Witnesses Strong Demand, Subscribed 126.69 Times

Harshdeep Hortico IPO Witnesses Strong Demand, Subscribed 126.69 Times/Mint

Harshdeep Hortico IPO Witnesses Strong Demand, Subscribed 126.69 Times

January 31, 2024:

The Harshdeep Hortico IPO, open for subscription from January 29 to January 31, 2024, has seen exceptional demand. As of 4:00 pm on the final day, the IPO was oversubscribed a massive 126.69 times, receiving bids for 28.12 crore shares against the 22.20 lakh shares on offer.

Subscription Status Breakdown:

  • QIB Portion: 213.53 times
  • NII Category: 181.28 times
  • Retail Investors: 90.67 times

Grey Market Premium (GMP):
The company’s shares are trading at a premium of ₹20 in the grey market, indicating a 44.44% rise compared to the IPO price at listing. This is an increase from ₹15 in the previous session and ₹12 on January 29, 2024. Note that the grey market premium is indicative and subject to change.

IPO Details:

  • IPO Price Band: ₹42-45 per share
  • IPO Size: ₹19.09 crore (Entirely fresh issue of 42.42 lakh shares)
  • Utilization of Proceeds: Repayment/pre-payment of borrowings, working capital, and general corporate purposes
  • Minimum Lot Size: 3,000 shares
  • Retail Investor Minimum Investment: ₹1.35 lakh
  • Reserved Categories: 50% for QIBs, 35% for retail investors, and 15% for NIIs

Allotment and Listing:

  • Allotment Date: February 1, 2024
  • Tentative Listing Date: February 5, 2024, on BSE SME

Lead Manager and Registrar:
Hem Securities Limited is the book-running lead manager, and Link Intime India Private Ltd is the registrar for the IPO. Hem Finlease serves as the market maker.

Investors have shown significant interest in the IPO, reflecting confidence in Harshdeep Hortico’s offering. The final allotment and listing will be eagerly awaited in the coming days.

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