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HGS (India) Ltd

HGS (India) Ltd

NSE SME · SME IPO
Listed NSE SME SME Live Chart
Issue Price
₹120
₹120
GMP (Grey Market)
+₹38
+31.67%
Est. Listing Price
₹158
Based on GMP
Min. Investment
₹144,000
1 lot × 1200 shares
Subscribed
174.22x
Over-subscribed
IPO Details
Open Date
30 Oct 2026
Close Date
03 Nov 2026
Allotment
04 Nov 2026
Listing Date
06 Nov 2026
Exchange
NSE SME
Price Band
₹120
Listing Price
See chart
Allotment Status
Price Band
₹120
Per share
Face Value
₹10 per share
 
Lot Size
1,200 Shares
per lot
Issue Size
28,80,000 shares (agg. up to ₹35 Cr)
Total offering
Issue Type
Bookbuilding IPO
 
Min Investment
₹144,000
1 lot
Pre-IPO Holding
85,32,713 shares
Promoters
Post-IPO Holding
1,08,58,713 shares
Promoters
P/E (Pre)
8.8x
 
P/E (Post)
9.76x
 
EPS (Pre)
₹13.64
 
EPS (Post)
₹12.29
 
UPI Deadline
5:00 PM on 03 Nov 2026
Mandate
GMP
+₹38
+31.67% est.
Anchor AllotmentThu, 29 Oct 2026
Basis of AllotmentWed, 04 Nov 2026
Refund InitiationThu, 05 Nov 2026
Demat CreditThu, 05 Nov 2026
Listing DayFri, 06 Nov 2026
UPI Mandate Deadline5:00 PM on 03 Nov 2026
Sale TypeFresh capital cum OFS
Net Offer to Public27,34,800 shares (agg. up to ₹33 Cr)
Market Maker Quota1,45,200 shares (agg. up to ₹2 Cr)
Fresh Issue Shares21,80,800 shares (agg. up to ₹26 Cr)
Offer for Sale5,54,000 shares of ₹10 (agg. up to ₹7 Cr)
QIB Quota50% of Net Issue
HNI / NII Quota15% of Net Issue
Retail Quota35% of Net Issue
Check AllotmentClick here →
Subscription Rate Final
HGS (India) Ltd IPO subscribed 174.22 times overall. Retail: 233.41x. QIB: 56.31x. NII: 424.52x. By 03 Nov 2026.
QIB
56.31x
Over
NII/HNI
424.52x
Over
Retail
233.41x
Over
Total
174.22x
Over
Category Subscription Shares Offered % of Total Amount (₹Cr)
Market Maker
Awaited
145,200
— ₹1.74
QIB
Over 56.31x
1,360,800
— ₹16.33
NII / HNI
Over 424.52x
414,000
— ₹4.97
Retail
Over 233.41x
960,000
— ₹11.52
Total 174.22x
2,734,800
100% ₹32.82
IPO Shares Offered
HGS (India) Ltd IPO total issue size: ₹32.82 Cr. Retail: ₹11.52 Cr. QIB: ₹16.33 Cr. NII: ₹4.97 Cr.
CategoryShares OfferedAmount (₹Cr)Size (%)
QIB 1,360,800 ₹16.33
49.76%
Market Maker 145,200 ₹1.74
5.31%
NII 414,000 ₹4.97
15.14%
Retail 960,000 ₹11.52
35.10%
Total 2,734,800 ₹32.82
100.00%
* Based on upper price band ₹120 per share
Basis of Allotment
QIB NII Retail Total
Ex. Anchor Anchor Total QIB Below ₹10L Above ₹10L Total NII
Allocation (shares) — — — — — 414,000 960,000 1,374,000
Allotment price (₹) 120 120 120 120 120 120 120 120
No. of applications — — — — — — — —
No. of shares applied — — — — — — — —
Amount collected (₹Cr) — — — — — — ₹11.52 ₹11.52
Times subscribed 56.31x — — — — 424.52x 233.41x 174.22x
Shares allotted — — — — — 414,000 960,000 1,374,000
No. of allottees — — — — — — — —
* Upper price band ₹120 · ** Anchor allotment excluded from public shares
Lot Size & Investment
Lot Size
1,200
Shares per Lot
Issue Price
₹120.00
Upper Band
Min Investment
₹144,000
1 Lot
ApplicationLotsSharesAmount
Retail (Min — 2 Lots)22,400₹288,000
Retail (Max — 13 Lots)1315,600₹1,872,000
S-HNI (Min — 14 Lots)1416,800₹2,016,000
B-HNI (Min — 68 Lots)6881,600₹9,792,000
* Issue Price ₹120 × Lot Size 1,200 shares
IPO Schedule
Anchor
29 Oct 2026
✓ Done
IPO Open
30 Oct 2026
✓ Done
IPO Close
03 Nov 2026
✓ Done
Allotment
04 Nov 2026
✓ Done
Refunds
05 Nov 2026
✓ Done
Demat Credit
05 Nov 2026
✓ Done
Listing Day
06 Nov 2026
✓ Done
HGS (India) Ltd — Live Price LIVE
₹120.00
INR · NSE
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Issue ₹120.00 GMP: +₹38 Live Price
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.StrengthsWide 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.
Objects of the Issue
1
Funding the capital expenditure towards replacement of plant and machinery for our existing manufacturing facility at Manesar, Gurugram
2
Funding the capital expenditure towards Backward Integration for setting up in-house gold plating facility
3
Funding the capital expenditure towards Infrastructural development of building on 3rd Floor at our existing manufacturing facility at Manesar, Gurugram
4
Pursuing unidentified acquisitions and general corporate purpose
HGS (India) Ltd Financials (Amount in ₹ Crore)
Revenue from Operations
₹53.5
31 Mar 2025
₹48.9
31 Mar 2026
₹3.8
30 Apr 2026
Profit After Tax (PAT)
₹10.5
31 Mar 2025
₹11.6
31 Mar 2026
₹1.1
30 Apr 2026
Particulars30 Apr 202631 Mar 202631 Mar 2025
Revenue from Operations 3.79 48.91 53.45
EBITDA 1.58 16.89 15.31
Profit After Tax (PAT) 1.11 11.64 10.51
Net Worth 90.41 89.27 85.16
Total Assets 111.90 110.12 104.04
Reserves & Surplus 91.80 90.66 87.97
Borrowings N/A N/A N/A
EBITDA Margin (%) 50.81 — —
PAT Margin (%) 35.80 — —
P/BV Ratio
1.13
RoE
1.24
RoCE
1.60
RoNW
1.23
PAT Margin
35.80
EBITDA Margin
50.81
Issue Structure & Shareholding
Total Shares OfferedN/A
Net Offer to Public27,34,800 shares (agg. up to ₹33 Cr)
Reserved for Market Maker1,45,200 shares (agg. up to ₹2 Cr)
Pre-Issue Promoter Holding85,32,713 shares
Post-Issue Promoter Holding1,08,58,713 shares
P/BV Ratio1.13
RoE1.24
RoCE1.60
Debt / EquityN/A
Script CodeN/A
Registrar & Lead Managers
Book Running Lead Managers
Hem Securities Ltd
GMP Disclaimer: Grey Market Premium data is unofficial and unregulated. It does not guarantee actual listing price.
IPO Subscription FAQs
How much HGS (India) Ltd IPO subscribed? ▲

HGS (India) Ltd IPO is subscribed 174.22 times by Nov 03, 2026. Retail: 233.41x. QIB: 56.31x. NII: 424.52x.

Investor CategorySubscription
Qualified Institutional (QIB)56.31x
Non Institutional (NII/HNI)424.52x
Retail Individual233.41x
Total Subscription174.22x
What is HGS (India) Ltd IPO retail subscription status? ▼

The HGS (India) Ltd IPO retail category is subscribed 233.41 times as of 03 Nov 2026. The retail portion is oversubscribed.

How to subscribe HGS (India) Ltd IPO? ▼

Subscribe via your broker app using ASBA or UPI. Opens 30 Oct 2026 and closes 03 Nov 2026. Min investment: ₹144,000 (1 lot = 1,200 shares). UPI mandate: 5:00 PM on 03 Nov 2026.

How many times HGS (India) Ltd IPO subscribed? ▼

The HGS (India) Ltd IPO subscribed 174.22x overall. QIB: 56.31x, NII: 424.52x, Retail: 233.41x. Applications: from NSE/BSE.

How to check HGS (India) Ltd IPO allotment? ▼

Check allotment on the registrar website (Kfin Technologies Ltd) at https://ipostatus.kfintech.com/. Enter your PAN, application number or DP/Client ID. Allotment date: 04 Nov 2026. Refunds: on 05 Nov 2026.

When HGS (India) Ltd IPO will be listed? ▼

The HGS (India) Ltd IPO listing date is 06 Nov 2026, Friday. Listed on: NSE SME. Issue price: ₹120. Estimated listing: ₹158. GMP: +₹38.

When HGS (India) Ltd IPO close? ▼

The HGS (India) Ltd IPO closes on 03 Nov 2026, Tuesday. UPI mandate: 5:00 PM on 03 Nov 2026. Allotment: 04 Nov 2026. Listing: 06 Nov 2026.