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HGS (India) IPO

GMP, Subscription, Price, Allotment, Listing Date & AI Prediction

Open

NSE SME

PRICE BAND

Rs 114 - 120

LOT SIZE

2,400

Shares

MIN INVEST

Rs 2.9L

CUT-OFF

Rs 120

per share

Open

30 Oct 2026

Last Day

03 Nov 2026

Allotment

04 Nov 2026

Expected Refund

05 Nov 2026

Listing

06 Nov 2026

GMP Today

5m ago

+25%

+Rs 30 premium

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GMP Graph

Est. Listing Price

GMP Based

Rs 150

Issue Price + GMP (Dynamic)

Est. Profit (1 Lot)

GMP Based

+Rs 72,000

+25.0% (2400 shares)

Subscription

1.16x

Day 1 - Live

Sub. Page

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Current IPO Status: open

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About HGS (India)

Geophysical Equipment / Seismic Instruments

HGS operates its manufacturing facility at IMT Manesar, Gurugram, Haryana. It has a wholly owned subsidiary, HGS Products B.V., in the Netherlands, which supports international sales and research and development. The company exports to more than 50 countries and has developed indigenous manufacturing capabilities across geophones, cables, connectors and related equipment. It holds ISO 9001:2015 certification and ZED Gold certification.

IPO_DETAILS_LONG: HGS (India) IPO is an NSE SME book-built issue of 28,80,000 equity shares at ₹114 to ₹120 per share. The IPO opens on October 30, 2026 and closes on November 3, 2026. Allotment is scheduled for November 4, refunds and demat credit for November 5, and listing for November 6, 2026. The issue consists of 23,26,000 fresh shares and 5,54,000 shares offered for sale by existing shareholders. The fresh issue proceeds will be used for replacement of plant and machinery, setting up an in-house gold plating facility, infrastructure development at the Manesar facility, and general corporate purposes and acquisitions.

Issue Details

Total Issue Size

Rs 35 Cr

Issue Size for Retail

Rs 12.1 Cr

Fresh Issue vs OFS

Fresh Issue
Rs 27.91 Cr (81%)
OFS
Rs 6.65 Cr (19%)

Reservation Quota

QIB

50%

Retail

35%

NII

15%

Lead Manager

Hem Securities Limited

Registrar

KFin Technologies Limited

Objects of the Issue (as per DRHP)

  • 1Replacement of plant and machinery at the existing Manesar manufacturing facility - ₹15.05 Cr
  • 2Backward integration through an in-house gold plating facility - ₹1.05 Cr
  • 3Infrastructure development of the third floor at the existing Manesar manufacturing facility - ₹3.26 Cr
  • 4Unidentified acquisitions and general corporate purposes - balance of net proceeds after specified objects and issue expenses

Key Performance Indicator (KPI)

KPIMar 31 2025Mar 31 2026
ROE12.34%13.35%
ROCE16.06%17.13%
Debt/EquityNANA
RoNW12.34%13.04%
PAT Margin21.40%25.77%
EBITDA Margin31.19%37.40%
Price to Book Value1.15
Check IPO Peer Comparison here.
Pre IPOPost IPO
EPS (Rs)13.6412.29
P/E (x)8.809.76
Promoter Holding87.30%64.33%
Market CapRs 130.30 Cr.

Anil Dass, Shashi Singh, Cecilia Margareta Singh Ramel, Sowar Pvt. Ltd.

HGS (India) Financials

Company financial data by reporting period. Amounts in Rs crore; ratios and percentages as labelled. A dash means not available, not zero.
MetricFY24FY25FY26
Total Income37.9353.4548.91
Net Profit (PAT)410.5111.64
EBITDA6.1615.3116.89
BorrowingsNANANA
ROE4.21%12.34%13.35%
ROCE4.88%16.06%17.13%
Debt/EquityNANANA
Assets113.7104.04110.12

Company Financials

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MARKET SENTIMENT SCORE

0
50
100
50
NA

Based on expert reviews, GMP trends & market signals

Expert Reviews & Opinions

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Company Contact Details

1st & 2nd Floor (Portion-2), A-259, Defence Colony, New Delhi - 110024, India
+91-011-46066604
[email protected]
Visit Website

Anchor Book

TIGER STRATEGIES FUND 1HEM GROWTH OPPORTUNITIES FUNDFINAVENUE CAPITAL TRUST-FINAVENUE GROWTH FUNDVIJIT GROWTH FUNDFLUMEN INVESTMENT TRUST-1729 GROWTH FUND ILRSD CAPITAL PVT. LTD.RMS GROWTH FUND SCHEME ITATTVAM AIF TRUST-AANJAY AGELESS AIF FUND

Green Flags

  • The company has more than 38 years of experience in manufacturing geophysical and seismic equipment.
  • It exports products to more than 50 countries.
  • It has developed indigenous manufacturing capabilities across geophones, cables and connectors.
  • FY26 PAT increased to ₹11.64 Cr from ₹10.51 Cr in FY25.
  • FY26 EBITDA increased to ₹16.89 Cr from ₹15.31 Cr in FY25.
  • FY26 EBITDA margin improved to 37.40% from 31.19% in FY25.
  • The IPO includes investment in plant modernisation and backward integration through an in-house gold plating facility.
  • The company has a European subsidiary supporting international sales and R&D.

Red Flags

  • FY26 total income declined to ₹48.91 Cr from ₹53.45 Cr in FY25.
  • The business is exposed to the investment cycles of oil, gas, mineral exploration and other end-user industries.
  • The top 10 customers contributed more than 72% of FY26 revenue.
  • The company does not have long-term contracts with all its customers, creating order visibility risk.
  • Manufacturing operations are concentrated at a single facility in Manesar.
  • The OFS component of ₹6.65 Cr provides an exit to existing shareholders.
  • A portion of the issue proceeds is intended for unidentified acquisitions, so the target businesses and expected returns are not yet known.

Grey Market Premium

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Frequently Asked Questions

What is the price band of HGS (India) IPO?

The price band is Rs 114-120 per share. One lot contains 2400 shares; its value at the upper price is Rs 2,88,000. Check the issue terms for the minimum application size applicable to your category.

What are the bidding dates for HGS (India) IPO?

The scheduled bidding period is 30 Oct 2026 to 3 Nov 2026.

When is HGS (India) IPO scheduled to list?

The scheduled listing date is 6 Nov 2026. The actual listing price is determined on the exchange, not by the grey market premium or an AI estimate.

Who is the registrar for HGS (India) IPO?

KFin Technologies Limited is the registrar. See the allotment page for the available schedule and official checking link.

Who manages HGS (India) IPO?

Lead manager information recorded for this issue: Hem Securities Limited.

Disclaimer

IPOGyani is not SEBI registered and does not provide investment advice. All information is for educational purposes only.

AI predictions are probabilistic estimates based on historical data and market trends. Past performance is not indicative of future results.

GMP (Grey Market Premium) data is sourced from various unofficial channels and may not be accurate. Always verify from multiple sources.

Investors should do their own research (DYOR) and consult a SEBI registered advisor before investing.

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