New Delhi, May 22 -- The initial public offering (IPO) of Harikanta Overseas opened for public subscription on Wednesday, May 20, and will remain available for bidding until May 22.

The company has fixed the IPO price band at Rs.91-96 per share and aims to raise around Rs.35.6 crore at the upper end of the price band. The SME issue consists entirely of a fresh issuance of nearly 0.27 crore equity shares and does not include any offer-for-sale (OFS) portion. As a result, the entire proceeds from the issue will go directly to the company.

The basis of allotment for the IPO is expected to be finalised on Monday, May 25. Eligible investors are likely to receive shares in their demat accounts on Tuesday, May 26, while refunds for unsuccessfu...