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HGS (India) Ltd IPO

NSE SME Bookbuilding IPO Fresh capital cum OFS Closed
GMP +₹38 +31.67% Est. Listing ₹158 P&L/Lot +₹45,600
Issue Price
₹120
Face ₹10
GMP
+₹38
+31.67% premium
Est. Listing
₹158
GMP based
Subscribed
248.58
🔥 Hot
Min Amount
₹144,000
1 lot · 1,200 shares
Lot Size
1,200
shares / lot
Allotment
Important Dates
3/6 completed
Open
Close
Allotment
Refund
Demat
Listing
Done
Open Date
30 Oct 2026
Fri Completed
Done
Close Date
03 Nov 2026
Tue Completed
Today
Allotment
04 Nov 2026
Wed Today
Soon
Refund
05 Nov 2026
Thu Upcoming
Soon
Demat Credit
05 Nov 2026
Thu Upcoming
Soon
Listing Date
06 Nov 2026
Fri Upcoming
Issue Details
Pricing & Size
Issue Price
₹120 Face ₹10
Lot Size
1,200 shares
Min Investment
₹144,000
Total Issue Size
28,80,000 shares (agg. up to ₹35 Cr)
IPO Information
Issue Type
Bookbuilding IPO
Sale Type
Fresh capital cum OFS
Listing Exchange
NSE SME
Script / Ticker
-
Allocation Breakdown
Market Maker
1,45,200 shares (agg. up to ₹2 Cr)
QIB Portion
547200.00
NII / HNI
414000.00
Retail
960000.00
Employee
-
Net Offer to Public
27,34,800 shares (agg. up to ₹33 Cr)
Shareholding Pattern
Pre-Issue Shareholding
85,32,713 shares
Post-Issue Shareholding
1,08,58,713 shares
Application Size
CategoryMin LotsSharesAmount
Retail (sNII) 2 2400 ₹2,88,000
HNI / NII 3 3600 ₹4,32,000
Objects of Issue
4 objectives
1
Funding the capital expenditure towards replacement of plant and machinery for our existing manufacturing facility at Manesar, Gurugram
15.05 Cr
2
Funding the capital expenditure towards Backward Integration for setting up in-house gold plating facility
1.05 Cr
3
Funding the capital expenditure towards Infrastructural development of building on 3rd Floor at our existing manufacturing facility at Manesar, Gurugram
3.26 Cr
4
Pursuing unidentified acquisitions and general corporate purpose
Lead Managers & Market Maker
Book Running Lead Managers
Hem Securities Ltd
IPO Timeline
Open
30 Oct
✓ Done
Close
03 Nov
✓ Done
Allotment
04 Nov
● Active
Listing
06 Nov
Upcoming
Registrar Details
Kfin Technologies Ltd
SEBI Registered Registrar & Transfer Agent
Phone
040-79615565
Email
hgs.ipo@kfintech.com
Company Contact
Email
cs@hgsindia.com
Phone
011-46066604
Address
Portion-2, First & Second Floor, A-259, Defence Colony New Delhi, New Delhi, 110024
Grey Market Premium
LIVE
Current GMP
+₹38
+31.67% vs Issue Price
Issue Price
₹120
Est. Listing
₹158
Lot Size
1,200 shares
P&L / Lot
+₹45,600
GMP is unofficial grey market data. Does not guarantee listing price or returns.
GMP Return Calculator
Estimated Listing
GMP %
Investment (1 Lot)
Total Investment
Expected P&L
ROI
GMP Updates
01 Nov 2026 1 update
10:45 PM +₹38 ▲ +4
30 Oct 2026 5 updates
11:56 PM +₹34 ▲ +34
11:06 PM +₹0 ▼ -34
11:06 PM +₹34 ▲ +34
10:57 PM +₹0 ▼ -34
10:57 PM +₹34
248.58
Overall Sub.
🔥 Hot
137.92
QIB
235.72
Retail
Category-wise Subscription
Category Sub (×) Offered Bid For Amt (Cr)*
QIB 137.92× 5,47,200 7,54,69,200 ₹905.63 Cr
NII / HNI (Total) 424.67× 4,14,000 17,58,14,400 ₹2,109.77 Cr
Retail Investors 235.72× 9,60,000 22,62,86,400 ₹2,715.44 Cr
Market Maker * 1× 1,45,200 shares (agg. up to ₹2 Cr) 1,45,200 shares (agg. up to ₹2 Cr) ₹1.74 Cr
Total ** 248.58× 19,21,200 47,75,70,000 ₹5,730.84 Cr
* Based on ₹120.00 (upper price band)
NII / HNI Breakdown
Shares Reserved
QIB
5,47,200
NII
4,14,000
Retail
9,60,000
Market Maker
1,45,200 shares (agg. up to ₹2 Cr)
* Shares Offered and Total Amount are indicative. ** Excluding Market Maker portion. Data sourced from exchange bidding platform.
Day-wise Subscription
Day 130 Oct 2026Day close
CategorySub (×)OfferedBid ForAmt (Cr)*
QIB1.77×13,60,80024,13,200₹28.96 Cr
NII / HNI (Total)1.24×4,14,0005,14,800₹6.18 Cr
Retail Investors0.25×9,60,0002,42,400₹2.91 Cr
Market Maker *1×1,45,200 shares (agg. up to ₹2 Cr)1,45,200 shares (agg. up to ₹2 Cr)₹1.74 Cr
Total **1.16×27,34,80031,70,400₹38.04 Cr
* Based on ₹120.00 (upper price band)
Day 202 Nov 2026Day close
CategorySub (×)OfferedBid ForAmt (Cr)*
QIB4.88×5,47,20026,72,400₹32.07 Cr
NII / HNI (Total)31.56×4,14,0001,30,66,800₹156.80 Cr
Retail Investors25.56×9,60,0002,45,35,200₹294.42 Cr
Market Maker *1×1,45,200 shares (agg. up to ₹2 Cr)1,45,200 shares (agg. up to ₹2 Cr)₹1.74 Cr
Total **20.96×19,21,2004,02,74,400₹483.29 Cr
* Based on ₹120.00 (upper price band)
Day 303 Nov 2026Day close
CategorySub (×)OfferedBid ForAmt (Cr)*
QIB137.92×5,47,2007,54,69,200₹905.63 Cr
NII / HNI (Total)424.67×4,14,00017,58,14,400₹2,109.77 Cr
Retail Investors235.72×9,60,00022,62,86,400₹2,715.44 Cr
Market Maker *1×1,45,200 shares (agg. up to ₹2 Cr)1,45,200 shares (agg. up to ₹2 Cr)₹1.74 Cr
Total **248.58×19,21,20047,75,70,000₹5,730.84 Cr
* Based on ₹120.00 (upper price band)
Financial Summary
Amount in ₹ Crore
Metric30 Apr 202631 Mar 202631 Mar 2025
Revenue3.7948.9153.45
PAT1.1111.6410.51
EBITDA1.5816.8915.31
Net Worth90.4189.2785.16
Total Assets111.90110.12104.04
Reserves91.8090.6687.97
Borrowings———
Key Financial Ratios
1.24
ROE
Return on Equity
1.60
ROCE
Return on Capital Employed
1.23
RONW
Return on Net Worth
35.80
PAT Margin
PAT / Revenue
50.81
EBITDA Mgn
EBITDA / Revenue
1.13
P/BV
Price to Book Value
13.64
Pre EPS
EPS Pre-Issue
12.29
Post EPS
EPS Post-Issue
8.8
Pre P/E
P/E Pre-Issue
9.76
Post P/E
P/E Post-Issue
About HGS (India) Ltd

HGS (India) Limited (HGSI), incorporated in February 1986, manufactures geophones, geophone strings, seismic cables, connectors and accessories used in seismic data collection and geophysical equipment. Established in technical and financial collaboration with Geosource Inc., USA, the company operates under the “HG” brand.

Its products are used in oil and gas exploration, mineral exploration, defence research, earthquake monitoring, vibration analysis and other geoscience applications. The company also manufactures cables and connectors for resistivity meters and radar equipment.

HGS (India) has developed in-house manufacturing capabilities, including cable extrusion lines and injection moulding machines, enabling it to manufacture critical components and maintain quality control. Its manufacturing facility is located in Manesar, Haryana, and is equipped with precision assembly, coil winding, magnetising and testing facilities. The company is ISO 9001:2015 certified, holds ZED Gold Certification and is recognised as a 100% Export Oriented Unit by the Noida Special Economic Zone (NSEZ).

The company exports its products to several countries across North America, Europe, Asia, Africa and other regions. In 2015, it established its wholly owned subsidiary, HGS Products B.V., in the Netherlands to strengthen its international sales and customer support.

Strengths
  • Wide Product Portfolio: Offers a diverse range of geophones, seismic cables, connectors and geophysical equipment for multiple industries.
  • Technical Expertise: Has specialised engineering and manufacturing capabilities for precision components and customised products.
  • Established Customer Relationships: Maintains long-standing relationships with customers in the seismic and energy sectors.
  • Focus on Quality: Follows established quality management standards and holds ISO 9001:2015 and ZED Gold certifications.
  • Strong Supply Chain: Has an established sourcing network and in-house component manufacturing capabilities.
  • Experienced Management: Benefits from experienced promoters and a professional management team.
Frequently Asked Questions
What is the issue price of HGS (India) Ltd IPO?
The issue price of HGS (India) Ltd IPO is ₹120 per share, face value ₹10.
What is the lot size?
Minimum lot size is 1,200 shares, requiring ₹144,000.
What are the IPO dates?
Opens 30 Oct 2026, closes 03 Nov 2026.
When is the listing date?
Tentative listing: 06 Nov 2026 on NSE SME.
What is the current GMP?
Current GMP is +₹38, estimated listing ₹158 (+31.67%). GMP is unofficial.
How to apply?
Apply via ASBA through your bank, or via UPI through any broker app.

Check Allotment Status

HGS (India) Ltd IPO · Expected 04 Nov 2026

Check on Registrar
Post-IPO Timeline
Allotment Date
04 Nov 2026
Refund Initiation
05 Nov 2026
Demat Credit
05 Nov 2026
Listing Date
06 Nov 2026
Quick Facts
Closed
GMP Signal
Bullish
+₹38
+31.67%
Issue Price
₹120
Face ₹10
Lot Size
1,200
shares / lot
Min Amount
₹144,000
1 lot
Est. Listing
₹158
GMP +₹38
Subscription
Overall248.58×
QIB137.92×
NII424.67×
Retail235.72×
Key Dates
Open
30 Oct Done
Close
03 Nov Done
Listing
06 Nov Soon
Registrar
Kfin Technologies Ltd
A
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