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HGS (India) IPO
HGS (India) IPO
Overview
HGS (India) IPO is a book build issue of ₹34.56 crores. The issue is a combination of fresh issue of 23.26 lakh shares aggregating to ₹27.91 crores and offer for sale of 5.54 lakh shares aggregating to ₹6.65 crores. HGS (India) IPO opens for subscription on Oct 30, 2026 and closes on Nov 3, 2026. The allotment for the HGS (India) IPO is expected to be finalized on Nov 4, 2026. HGS (India) IPO will list on the NSE SME with a tentative listing date fixed as Nov 6, 2026. HGS (India) IPO is set issue price band at ₹114 to ₹120 per share. The lot size for an application is 1,200 shares. The minimum amount of investment required by an individual investor (retail) is ₹2,88,000 (2,400 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (3,600 shares), amounting to ₹4,32,000. Hem Securities Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The Market Maker of the company is Hem Finlease Pvt.Ltd.
Total Shares
28,80,000
Issue Size
₹35 Cr
Price Band
₹114 – ₹120
Lot Size
1200 shares
Min. Investment
₹1,44,000
Max. Investment
₹1,44,000
Open Date
30 Oct, 2026
Close Date
03 Nov, 2026
Allotment
04 Nov, 2026
Listing
06 Nov, 2026
Max. Investment
₹1,44,000
Announced
30 Oct, 2026
Opening Date
30 Oct, 2026
Closing Date
03 Nov, 2026
Basis of Allotment
04 Nov, 2026
Initiation of Refunds
05 Nov, 2026
Credit of Shares
05 Nov, 2026
Listing Date
06 Nov, 2026
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About HGS (India) IPO
Its products are used in oil and gas exploration, mineral exploration, defence research, earthquake monitoring, vibration analysis and other geoscience appli
HGS (India) IPO Share Price
Issue Breakdown
Shareholding
Dilution: 27.3% increase in shares
HGS (India) IPO Financial Health
HGS (India) Ltd.'s revenue decreased by 8% and profit after tax (PAT) rose by 11% between the financial year ending with March 31, 2026 and March 31, 2025.
HGS (India) IPO Lot Size
Investors can bid for a minimum of 2,400 shares and in multiples of 1,200 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (IND) (Min) | 2 | 2400 | ₹2,88,000 |
| Individual investors (IND) (Max) | 2 | 2400 | ₹2,88,000 |
| S-HNI (Min) | 3 | 3600 | ₹4,32,000 |
| S-HNI (Max) | 6 | 7200 | ₹8,64,000 |
| B-HNI (Min) | 7 | 8400 | ₹10,08,000 |
(All values in CR)
HGS (India) IPO Valuations
| Metric | Value |
|---|---|
| ROE | 1.24 |
| ROCE | 1.60 |
| RoNW | 1.23 |
| PAT Margin | 35.80 |
| EBITDA Margin | 50.81 |
| NAV | 105.96 |
| P/B (x) | 1.13 |
| - | - |
(All values in CR)
HGS (India) IPO Strength & Risk
HGS (India) IPO Strength
Strong Industry Experience: Nearly four decades of experience in manufacturing specialised geophones, seismic cables, connectors, and geophysical equipment.
Specialised Product Portfolio: Products serve oil and gas exploration, mineral exploration, defence research, earthquake monitoring, and other geophysical applications.
Established Manufacturing Capabilities: In-house manufacturing, precision engineering, assembly, and testing capabilities support product quality and customisation.
International Market Presence: Export operations and an overseas subsidiary provide access to international customers.
HGS (India) IPO Risk
Customer Concentration: Dependence on a limited number of major customers could affect revenue if key relationships are lost.
High Export Dependency: Significant overseas sales expose the company to currency fluctuations, international trade restrictions, and geopolitical uncertainties.
Product Concentration: Heavy reliance on geophone strings and seismic cables makes the business vulnerable to changes in demand for these products.
Revenue Decline: Total income fell to ₹48.91 crore in FY2026 from ₹53.45 crore in FY2025, raising concerns about demand consistency.
HGS (India) IPO GMP
Grey market trading for HGS (India) SME IPO has commenced over the past 1 sessions. Due to limited historical data, initial trends are forming. Stay tuned for daily HGS (India) SME IPO GMP updates, price trends, and expected listing estimates.
Last updated 28 Oct, 2026 · Source: aggregated grey-market dealers
| Date | IPO Price | GMP | Sub2 Sauda | Est. Listing | Est. Profit | Updated |
|---|---|---|---|---|---|---|
| 28 Oct, 2026 | 0 | ₹0 | - | ₹120 (0.00%) | - | 28 Oct, 2026 |
Disclaimer: GMP is an unofficial signal from grey-market dealers and is not regulated by SEBI. Use it alongside subscription data and other research for informed decision-making.
How to Apply for HGS (India) IPO
Login to Your Trading App
Open Zerodha, Upstox, Groww, Angel One, or any brokerage app.
Go to IPO Section
Find HGS (India) IPO under the IPO section. Select it and enter your bid details — choose lot size and price (cut-off price recommended).
Enter UPI ID and Submit
Provide your UPI ID linked to your bank account and submit the application.
Approve Mandate on UPI App
Open your UPI app (Google Pay, PhonePe, Paytm, BHIM) and approve the IPO payment request.
Application Confirmed
Your funds will be blocked in your account until the IPO allotment process is completed.
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