The Harshdeep Hortico IPO opened for subscription today. The company plans to raise about Rs 19.09 crore through the public offer. The IPO is a fresh equity issue of up to 42.4 lakh shares at a price band of Rs 42-45 apiece. For the period ended July 2023, the company reported revenues of Rs 14.82 crore and net profit of Rs 1.77 crore. The net proceeds from the offer will be used for debt repayment, working capital requirements, and general corporate purposes.
Market is likely to be volatile in the event-packed week as the participants will focus on the Interim Budget, Federal Reserve interest rate decision and auto sales for January.
Six companies will be raising little more than Rs 500 crore through initial public offerings including one from the mainboard segment and the remaining from SME segment.
Delhi-based digital service provider BLS E-Services opens its maiden public issue on January 30 and closes on February 1. The firm from the mainboard segment has a price band of Rs 129-135 per share.