Harshdeep Hortico IPO: From subscription status to GMP, all you need to know
₹42-45 per share. The issue has witnessed robust subscription and has been fully subscribed on the first day of bidding. At 2:30 pm, the IPO was subscribed 1.23 times.
It has received bids for 27.27 lakh shares as against 22.20 lakh shares on offer. The retail investor portion was booked the most, 1.76 times followed by the NII quota, which was subscribed by 42 percent. However, the QIB part has not received any bids till now.
The company's shares were trading at a premium of ₹0 in the grey market, indicating no rise versus IPO price at listing. It has been the same since it started trading in the grey market on January 19, 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.
The ₹19.09 crore IPO is entirely a fresh issue of 42.42 lakh shares with no offer-for-sale component. 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).
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