Harikanta Overseas Ltd IPO

Initial public issue of 26,70,000 equity shares of face value of Rs.10/- each of Harikanta Overseas Limited ("HOL" or the "Company" or the "Issuer") for cash at a price of Rs. 91 per equity share including a share premium of Rs. 81 per equity share (the "Issue Price") aggregating to Rs. 24.30 ("the Issue"), of which 1,34,400 equity shares of face value of Rs.10/- each for cash at a price of Rs. 91 per equity share including a share premium of Rs. 81 per equity share aggregating to Rs. 1.22 Crores will be reserved for subscription by market maker to the issue (the "Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e., Net issue of 25,35,600 equity shares of face value of Rs.10/- each at a price of Rs. 91 per equity share aggregating to Rs. 23.07 Crores is herein after referred to as the "Net Issue". The issue and the net issue will constitute 27.06% and 25.70% respectively of the post issue paid up equity share capital of the company. Price Band: Rs. 91/- per equity share of face value Rs. 10/- each. The floor price is 9.1 times of the face value of the equity shares. Bids can be made for a minimum of 2400 equity shares and in multiples of 1200 equity shares thereafter.

Harikanta Overseas Limited was originally incorporated as 'Harikanta Overseas Private Limited', a Private Limited Company, dated October 22, 2018 with the Registrar of Companies, Central Registration Centre. Subsequently, Company was converted from a private Company to Public Company and consequently, the name of the Company was changed to 'Harikanta Overseas Limited' w.e.f. February 22, 2025. Company has evolved into a diversified manufacturer of textile products while strengthening its domestic presence through its associate concerns. Company is engaged in the manufacturing of Synthetic textile fabrics. The product includes Ikat fabrics, polyester garment fabrics, saree fabrics, dhupion fabrics, poly linen, and natural fiber. It primarily cater fabric to women's wear, producing fabrics for sarees, dress materials, and kurtas, while also offering fabrics for men's kurtas. Although fabrics have multiple end uses, the majority of them are utilized in the manufacturing of different types of sarees. With the objective of broadening business horizons and accessing international markets, the Promoters incorporated Harikanta Overseas Private Limited on October 22, 2018. This marked a milestone in their entrepreneurial journey, creating a platform for global trade. The Company commenced exports of products such as Ikat fabrics and Dhupion fabrics, which expanded its customer base beyond India. With the objective of supplying products to overseas customers, Company has set up a manufacturing unit at Surat, Gujarat. During the initial periods, Company marketed its products through merchant exporters. With growing expertise and increasing international demand, it gradually started focusing into direct exports as well, establishing itself as a recognized player in the textile export market. The Company initially supplied products to Cambodia and the domestic market in Surat. Over time, its export network expanded to include Bahrain, Singapore, and Thailand, while on domestic front, Company diversified the business to other key markets such as Delhi, Bangalore, Karnataka, Maharashtra, Uttar Pradesh, Punjab and Rajasthan. In addition to its existing portfolio of Ikat fabrics and Dhupion fabrics, it commenced the production of polyester garment fabrics, saree fabrics, poly linen, and natural fiber fabrics. This diversification in manufacturing began from September 2024- 25, enabling the Company to cater to a broader market base. Company has filed a Draft Red Herring Prospectus with SEBI and is planning a fresh issue of 26,75,000 equity shares of face value Rs 10 per equity by way of IPO.