HGS India Ltd IPO
Status: Upcoming
Overview
IPO date
30 Oct 2026 to 03 Nov 2026
Face value
₹ 0 per share
Price
₹ 114 to ₹120 per share
Issue Size
0 shares
(aggregating up to ₹ 0 Cr)
(aggregating up to ₹ 0 Cr)
Allotment Date
04 Nov 2026
Listing at
NSE
Issue type
Book Building - SME
Sector
Miscellaneous
Unlock Stock of the Month
T&C*
Strengths vs Risks of HGS India Ltd
Know the pros & cons
Strengths
- Wide product portfolio catering to various end user industries.
- Precision engineering expertise with complex product manufacturing capabilities.
- Long term and well-established relationships with customers.
- Focus on Quality Assurance.
- Established supply chain and sourcing network.
- Experienced Promoters and professional management team.
Risks
- The company's business is dependent on the sale of its products to certain key customers and the company does not have any long term contracts with any of these customers. The loss of any of these customers or loss of revenue from sales to these customers could have a material adverse effect on the company's business, financial condition, results of operations and cash flows.
- The company derives a portion of its revenues from exports and are subject to risk of international trade in multiple countries including Netherlands where the company's wholly owned subsidiary is located.
- The company derives a significant portion of its revenue from the sale of the company's key product i.e. Geophones Strings/Harness and Seismic Cables. An inability to anticipate or adapt to evolving upgradation of the required products or inability to ensure product quality or reduction in the demand of these products may adversely impact its revenue from operations and growth prospects.
- The company's reliance on certain industries for a significant portion of its sales could have an adverse effect on the company's business.
- The company is subject to strict quality requirements, customer inspections and audits, and any failures to comply with quality standards may lead to cancellation of existing and future orders and could negatively impact the company's reputation and our business and results of operations and future prospects.
- The company may be subject to risks associated with product warranty.
- The company's business is dependent on its manufacturing facility and the company is subject to certain risks in the company's manufacturing process. Obsolescence, destruction, theft, breakdowns of its major plants or machineries or failures to repair or maintain the same or technology failures could disrupt the company's operations and have a material adverse effect on its business, results of operation or financial condition.
- The industry where the Company operates requires deployment of skilled and technical employees including labour workforce and its success depends largely upon the company's ability to attract and retain these personnel.
- Inventories and trade receivables form a major part of the company's current assets. Failures to manage its inventory and trade receivables could have an adverse effect on the company's sales, profitability, cash flow and liquidity.
- The Company is dependent on limited number of suppliers for procurement of raw materials and components. Any delay, interruption or reduction in the supply of raw materials and components required for its products may adversely affect the company's business, results of operations, cash flows and financial condition.
- The company depends on its technical expertise to manufacture and develop products and if the company is unable to keep the company's technical knowledge and process know-how confidential, the company may suffer loss of its competitive advantage.
- The company is exposed to foreign currency fluctuation risks, in relation to export of products and import of material, which may affect its results of operations, financial condition and cash flows.
- The Company and its management are involved in certain legal proceedings and potential litigations. Any adverse decision in such proceedings may render us/them liable to liabilities/penalties/prosecutions and may adversely affect its business and results of operations.
- The company is dependent on its promoter and senior management and other key personnel, and the loss of, or the company's inability to attract or retain, such persons could affect its business, results of operations, financial condition and cash flows.
- The company's Subsidiary Company had incurred losses in the past and any operating losses in the future could adversely affect the results of operations and financial conditions of the Company.
- The company is subjet to strict quality requirements, regular inspections and audits, and the success and wide acceptability of its products is largely dependent upon the company's quality controls and standards. Any failures to comply with quality standards may adversely affect the company's business prospects and financial performance, including cancellation of existing and future orders
- If there are delays in executing the objects of the IPO or if the costs of setting up and the possible time or cost overruns related to the proposed capex or the purchase of plant and machinery, are higher than expected, it could have a material adverse effect on the company's financial condition, results of operations and growth prospects.
- The Company may not be successful in penetrating into new export markets
- The Company was incorporated in 1986 and the company is unable to trace some of its historical records and certain of the company's corporate records relating to forms filed with the Registrar of Companies in respect of Allotment of Equity Shares, appointment of Statutory Auditor, appointment of directors, filing of financial statements etc. The company cannot assure you that no legal proceedings or regulatory actions will be initiated against the Company in the future in relation to the missing filings and corporate records, which may impact its financial condition and reputation.
- The company is dependent on third party transportation providers for the delivery of its raw material and products. Accordingly, continuing increases in transportation costs or unavailability of transportation services for them, as well the extent and reliability of Indian infrastructure may have an adverse effect on the company's business, financial condition, results of operations and prospects
- The company requires certain approvals, licenses, registrations and permits to operate its business, and failures to obtain or renew them in a timely manner or maintain the statutory and regulatory permits and approvals required to operate the company's business may adversely affect its operations and financial conditions.
- Geographical concentration of its manufacturing facility may adversely affect the company's operations, business and financial condition
- Under-utilization of its manufacturing facility and an inability to effectively utilize the company's expanded manufacturing capacities could have an adverse effect on its business, future prospects and future financial performance
- The Objects of the Offer for which funds are being raised, are based on the company's management estimates and have not been appraised by any bank or financial institution or any independent agency.
- The company may not be able to adequately protect or continue to use its intellectual property.
- A portion of its recent income is attributable to other income, which may not be sustainable or indicative of the company's future results.
- The company's contingent liabilities and Capital Commitments as stated in its Restated Consolidated Financial Statements could affect the company's financial condition.
- Any shutdown or disruption at the company's manufacturing facility may have an adverse effect on its business, results of operations and financial condition.
- The company has in the past entered into related party transactions and may continue to do so in the future. There can be no assurance that such transactions, individually or in the aggregate, will not have an adverse effect on the Company's financial condition and results of operations.
- The company's business is substantially dependent on its design and engineering teams to accurately carryout the estimates and engineering studies for potential orders. Any deviation during the execution of the order as compared to the company's estimates could have a material adverse effect on its cashflows, results of operations and financial condition.
- In the past, there have been delays in fillings with the Registrar of Companies (RoC) under the Companies Act, which may result in penalties.
- The company has power and water requirements and any disruption to the company's power or water sources could increase its production costs.
- If the company is unable to manage its growth effectively and further expand into new markets the company's business, future financial performance and results of operations could be materially and adversely affected.
- The company is subject to stringent labour laws or other industry standards and any kind of disputes with its employees could adversely affect the company's business, results of operations, financial condition and cash flows.
- The company's business is dependent on the level of exploration and production activities in the oil and gas sector, which may be adversely affected by geopolitical tensions, including conflicts in key oil-producing regions.
- Activities involving the company's manufacturing process can cause injury to people or property in certain circumstances. A significant disruption at its manufacturing facility may adversely affect the company's production schedules, costs, sales and ability to meet customer demand.
- The company's insurance coverage may not be adequate to protect the company against all potential losses to which the company may be subject and this may have a material effect on its business and financial condition.
- Any failures to adapt to industry trends, evolving automated technologies, precision working and quality management to meet the company's customers' demands may materially and adversely affect its business and results of operations.
- The company has not entered into definitive arrangements in relation to certain objects, and may not be able to enter into definitive agreements on favourable terms, or at all, in the future. Further, any delays in deploying the funds being raised in the Offer, may have an adverse effect on the company's business, financial condition and results of operations.
- If the company fails to maintain an effective system of internal controls, the company may not be able to successfully manage or accurately report its financial risks
- The company is subject to increasingly stringent environmental, health and safety laws, regulations and standards. Noncompliance with and adverse changes in health, safety, labour, and environmental laws and other similar regulations to the company's manufacturing operations may adversely affect its business, results of operations and financial condition
- The company faces competition from both domestic as well as multinational corporations and the company's inability to compete effectively may have a material adverse impact on its business, financial condition and results of operations.
- Industry information included in this Draft Red Herring Prospectus has been derived from industry sources. There can be no assurance that such third-party statistical, financial and other industry information is complete, reliable or accurate.
- One of the company's individual Promoters, Cecilia Margareta Singh Ramel, is not an original promoter of the Company and does not possess prior experience in the company's line of business.
- The company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
- The company has not identified any alternate source of funding and hence any failures or delay on its part to mobilize the required resources or any shortfall in the Offer proceeds may delay the implementation schedule.
- Information relating to the installed capacity and capacity utilization included in this Draft Red Herring Prospectus is based on various assumptions and estimates and capacity utilization may vary.
- Any variation in the utilization of the Net Proceeds as disclosed in this Draft Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
- The company's lenders have charge over its immovable and movable properties in respect of finance availed by the company.
- The company's directors have no prior experience in managing a listed Company, which may pose challenges in complying with regulatory requirements. Also, being a listed Company may strain its existing resources.
- Any Penalty or demand raised by statutory authorities in future will affect financial position of the Company.
- The company's ability to pay any dividends will depends upon future earnings, financial condition, cash flows and working capital requirements.
- Technology failures or Cyber-attacks or other security breaches could have a material adverse effect on the company's business, results of operation or financial condition.
- The Company has made investment in equity instruments, and the company has not made any provision for a decline in the value of its investments.
- The company's management will have discretion in the utilisation of the Net Proceeds, including interim use, and any deviation from the proposed Objects of the Offer may adversely affect the returns on your investment.
- Any international market expansion efforts may expose the company to complex management, legal, tax and economic risks, which could adversely affect its business, financial condition, cash flows and results of operations.
- The company's Promoters have extended personal guarantee in the loan facilities obtained by the Company, and any failures or default by the Company to repay such loans in accordance with the terms and conditions of the financing documents could trigger repayment obligations on them, which may impact their ability to effectively service their obligations and thereby, impact its business and operations
- One of the Objects of the Offer is funding inorganic growth through unidentified acquisition and general corporate purposes. The company may utilize a portion of the Proceeds from the Fresh Issue to undertake inorganic growth for which the target may not be identified. The company has not made any strategic acquisitions in the past and inability to finalize such activities in a timely manner may delay its deployment of the Proceeds from the Fresh Issue and adversely affect the company's business and future growth.
- Excessive dependence on Canara Bank and Kotak Mahindra Bank Limited in respect of Loan facilities obtained by the Company.
- Failures to deal effectively with any fraudulent transactions and illegal activity affecting the sensitive information of its stakeholders could harm the company's business and reputation and expose the company to liability.
- In addition to remuneration, other benefits and reimbursement of expenses of some of its directors (including our Promoter) and Key Management Personnel are interested in the Company to the extent of their shareholding and dividend entitlement in the Company.
- There is no monitoring agency appointed by the Company to monitor the utilization of the Offer proceeds
- The company has issued Equity Shares during the preceding one year at a price that may be below the Offer Price.
- The company is subject to certain restrictive covenants in debt facilities provided to the company by its lenders.
- The average cost of acquisition of Equity Shares by the company's promoters is lower than the faces value of Equity Share.
- Significant differences exist between Accounting Standards and other accounting principles, such as Indian GAAP, US GAAP and International Financial Reporting Standards ("IFRS"), which investors may be more familiar with and consider material to their assessment of its financial condition
- The company's Promoters and the Promoter Group will jointly continue to retain majority shareholding in the Company after the offer, which will allow them to determine the outcome of the matters requiring the approval of shareholders.
- The company may requires further equity issuance, which will lead to dilution of equity and may affect the market price of the company's Equity Shares or additional funds through incurring debt to satisfy its capital needs, which we may not be able to procure and any future equity offerings by the company.
- The Offer price of the company's Equity Shares may not be indicative of the market price of its Equity Shares after the offer and the market price of the company's Equity Shares may decline below the offer price and you may not be able to sell your Equity Shares at or above the Offer Price.
- The Company will not receive any proceeds from the Offer for Sale portion, and the Selling Shareholder shall be entitled to the Offer Proceeds to the extent of the Equity Shares offered by the Selling Shareholder in the Offer for Sale.
- The company may be subject to surveillance measures, such as the Additional Surveillance Measures (ASM) and the Graded Surveillance Measures (GSM) by the Stock Exchanges which may adversely affect trading price of its Equity Shares.
- Certain data mentioned in this Draft Red Herring Prospectus has not been independently verified.
- Any of the Bidders are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid.
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The IPO opens on 30 Oct 2026 & closes on 03 Nov 2026.
HGS India Ltd IPO will close on 03 Nov 2026.
- Wide product portfolio catering to various end user industries.
- Precision engineering expertise with complex product manufacturing capabilities.
- Long term and well-established relationships with customers.
- Focus on Quality Assurance.
- Established supply chain and sourcing network.
- Experienced Promoters and professional management team.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Anil Dass | --- | --- | --- | --- |
| 2 | Shashi Singh | --- | --- | --- | --- |
| 3 | Cecilia Margareta Singh Ramel | --- | --- | --- | --- |
| 4 | Sowar Private Limited | --- | --- | --- | --- |
- The company's business is dependent on the sale of its products to certain key customers and the company does not have any long term contracts with any of these customers. The loss of any of these customers or loss of revenue from sales to these customers could have a material adverse effect on the company's business, financial condition, results of operations and cash flows.
- The company derives a portion of its revenues from exports and are subject to risk of international trade in multiple countries including Netherlands where the company's wholly owned subsidiary is located.
- The company derives a significant portion of its revenue from the sale of the company's key product i.e. Geophones Strings/Harness and Seismic Cables. An inability to anticipate or adapt to evolving upgradation of the required products or inability to ensure product quality or reduction in the demand of these products may adversely impact its revenue from operations and growth prospects.
- The company's reliance on certain industries for a significant portion of its sales could have an adverse effect on the company's business.
- The company is subject to strict quality requirements, customer inspections and audits, and any failures to comply with quality standards may lead to cancellation of existing and future orders and could negatively impact the company's reputation and our business and results of operations and future prospects.
- The company may be subject to risks associated with product warranty.
- The company's business is dependent on its manufacturing facility and the company is subject to certain risks in the company's manufacturing process. Obsolescence, destruction, theft, breakdowns of its major plants or machineries or failures to repair or maintain the same or technology failures could disrupt the company's operations and have a material adverse effect on its business, results of operation or financial condition.
- The industry where the Company operates requires deployment of skilled and technical employees including labour workforce and its success depends largely upon the company's ability to attract and retain these personnel.
- Inventories and trade receivables form a major part of the company's current assets. Failures to manage its inventory and trade receivables could have an adverse effect on the company's sales, profitability, cash flow and liquidity.
- The Company is dependent on limited number of suppliers for procurement of raw materials and components. Any delay, interruption or reduction in the supply of raw materials and components required for its products may adversely affect the company's business, results of operations, cash flows and financial condition.
- The company depends on its technical expertise to manufacture and develop products and if the company is unable to keep the company's technical knowledge and process know-how confidential, the company may suffer loss of its competitive advantage.
- The company is exposed to foreign currency fluctuation risks, in relation to export of products and import of material, which may affect its results of operations, financial condition and cash flows.
- The Company and its management are involved in certain legal proceedings and potential litigations. Any adverse decision in such proceedings may render us/them liable to liabilities/penalties/prosecutions and may adversely affect its business and results of operations.
- The company is dependent on its promoter and senior management and other key personnel, and the loss of, or the company's inability to attract or retain, such persons could affect its business, results of operations, financial condition and cash flows.
- The company's Subsidiary Company had incurred losses in the past and any operating losses in the future could adversely affect the results of operations and financial conditions of the Company.
- The company is subjet to strict quality requirements, regular inspections and audits, and the success and wide acceptability of its products is largely dependent upon the company's quality controls and standards. Any failures to comply with quality standards may adversely affect the company's business prospects and financial performance, including cancellation of existing and future orders
- If there are delays in executing the objects of the IPO or if the costs of setting up and the possible time or cost overruns related to the proposed capex or the purchase of plant and machinery, are higher than expected, it could have a material adverse effect on the company's financial condition, results of operations and growth prospects.
- The Company may not be successful in penetrating into new export markets
- The Company was incorporated in 1986 and the company is unable to trace some of its historical records and certain of the company's corporate records relating to forms filed with the Registrar of Companies in respect of Allotment of Equity Shares, appointment of Statutory Auditor, appointment of directors, filing of financial statements etc. The company cannot assure you that no legal proceedings or regulatory actions will be initiated against the Company in the future in relation to the missing filings and corporate records, which may impact its financial condition and reputation.
- The company is dependent on third party transportation providers for the delivery of its raw material and products. Accordingly, continuing increases in transportation costs or unavailability of transportation services for them, as well the extent and reliability of Indian infrastructure may have an adverse effect on the company's business, financial condition, results of operations and prospects
- The company requires certain approvals, licenses, registrations and permits to operate its business, and failures to obtain or renew them in a timely manner or maintain the statutory and regulatory permits and approvals required to operate the company's business may adversely affect its operations and financial conditions.
- Geographical concentration of its manufacturing facility may adversely affect the company's operations, business and financial condition
- Under-utilization of its manufacturing facility and an inability to effectively utilize the company's expanded manufacturing capacities could have an adverse effect on its business, future prospects and future financial performance
- The Objects of the Offer for which funds are being raised, are based on the company's management estimates and have not been appraised by any bank or financial institution or any independent agency.
- The company may not be able to adequately protect or continue to use its intellectual property.
- A portion of its recent income is attributable to other income, which may not be sustainable or indicative of the company's future results.
- The company's contingent liabilities and Capital Commitments as stated in its Restated Consolidated Financial Statements could affect the company's financial condition.
- Any shutdown or disruption at the company's manufacturing facility may have an adverse effect on its business, results of operations and financial condition.
- The company has in the past entered into related party transactions and may continue to do so in the future. There can be no assurance that such transactions, individually or in the aggregate, will not have an adverse effect on the Company's financial condition and results of operations.
- The company's business is substantially dependent on its design and engineering teams to accurately carryout the estimates and engineering studies for potential orders. Any deviation during the execution of the order as compared to the company's estimates could have a material adverse effect on its cashflows, results of operations and financial condition.
- In the past, there have been delays in fillings with the Registrar of Companies (RoC) under the Companies Act, which may result in penalties.
- The company has power and water requirements and any disruption to the company's power or water sources could increase its production costs.
- If the company is unable to manage its growth effectively and further expand into new markets the company's business, future financial performance and results of operations could be materially and adversely affected.
- The company is subject to stringent labour laws or other industry standards and any kind of disputes with its employees could adversely affect the company's business, results of operations, financial condition and cash flows.
- The company's business is dependent on the level of exploration and production activities in the oil and gas sector, which may be adversely affected by geopolitical tensions, including conflicts in key oil-producing regions.
- Activities involving the company's manufacturing process can cause injury to people or property in certain circumstances. A significant disruption at its manufacturing facility may adversely affect the company's production schedules, costs, sales and ability to meet customer demand.
- The company's insurance coverage may not be adequate to protect the company against all potential losses to which the company may be subject and this may have a material effect on its business and financial condition.
- Any failures to adapt to industry trends, evolving automated technologies, precision working and quality management to meet the company's customers' demands may materially and adversely affect its business and results of operations.
- The company has not entered into definitive arrangements in relation to certain objects, and may not be able to enter into definitive agreements on favourable terms, or at all, in the future. Further, any delays in deploying the funds being raised in the Offer, may have an adverse effect on the company's business, financial condition and results of operations.
- If the company fails to maintain an effective system of internal controls, the company may not be able to successfully manage or accurately report its financial risks
- The company is subject to increasingly stringent environmental, health and safety laws, regulations and standards. Noncompliance with and adverse changes in health, safety, labour, and environmental laws and other similar regulations to the company's manufacturing operations may adversely affect its business, results of operations and financial condition
- The company faces competition from both domestic as well as multinational corporations and the company's inability to compete effectively may have a material adverse impact on its business, financial condition and results of operations.
- Industry information included in this Draft Red Herring Prospectus has been derived from industry sources. There can be no assurance that such third-party statistical, financial and other industry information is complete, reliable or accurate.
- One of the company's individual Promoters, Cecilia Margareta Singh Ramel, is not an original promoter of the Company and does not possess prior experience in the company's line of business.
- The company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
- The company has not identified any alternate source of funding and hence any failures or delay on its part to mobilize the required resources or any shortfall in the Offer proceeds may delay the implementation schedule.
- Information relating to the installed capacity and capacity utilization included in this Draft Red Herring Prospectus is based on various assumptions and estimates and capacity utilization may vary.
- Any variation in the utilization of the Net Proceeds as disclosed in this Draft Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
- The company's lenders have charge over its immovable and movable properties in respect of finance availed by the company.
- The company's directors have no prior experience in managing a listed Company, which may pose challenges in complying with regulatory requirements. Also, being a listed Company may strain its existing resources.
- Any Penalty or demand raised by statutory authorities in future will affect financial position of the Company.
- The company's ability to pay any dividends will depends upon future earnings, financial condition, cash flows and working capital requirements.
- Technology failures or Cyber-attacks or other security breaches could have a material adverse effect on the company's business, results of operation or financial condition.
- The Company has made investment in equity instruments, and the company has not made any provision for a decline in the value of its investments.
- The company's management will have discretion in the utilisation of the Net Proceeds, including interim use, and any deviation from the proposed Objects of the Offer may adversely affect the returns on your investment.
- Any international market expansion efforts may expose the company to complex management, legal, tax and economic risks, which could adversely affect its business, financial condition, cash flows and results of operations.
- The company's Promoters have extended personal guarantee in the loan facilities obtained by the Company, and any failures or default by the Company to repay such loans in accordance with the terms and conditions of the financing documents could trigger repayment obligations on them, which may impact their ability to effectively service their obligations and thereby, impact its business and operations
- One of the Objects of the Offer is funding inorganic growth through unidentified acquisition and general corporate purposes. The company may utilize a portion of the Proceeds from the Fresh Issue to undertake inorganic growth for which the target may not be identified. The company has not made any strategic acquisitions in the past and inability to finalize such activities in a timely manner may delay its deployment of the Proceeds from the Fresh Issue and adversely affect the company's business and future growth.
- Excessive dependence on Canara Bank and Kotak Mahindra Bank Limited in respect of Loan facilities obtained by the Company.
- Failures to deal effectively with any fraudulent transactions and illegal activity affecting the sensitive information of its stakeholders could harm the company's business and reputation and expose the company to liability.
- In addition to remuneration, other benefits and reimbursement of expenses of some of its directors (including our Promoter) and Key Management Personnel are interested in the Company to the extent of their shareholding and dividend entitlement in the Company.
- There is no monitoring agency appointed by the Company to monitor the utilization of the Offer proceeds
- The company has issued Equity Shares during the preceding one year at a price that may be below the Offer Price.
- The company is subject to certain restrictive covenants in debt facilities provided to the company by its lenders.
- The average cost of acquisition of Equity Shares by the company's promoters is lower than the faces value of Equity Share.
- Significant differences exist between Accounting Standards and other accounting principles, such as Indian GAAP, US GAAP and International Financial Reporting Standards ("IFRS"), which investors may be more familiar with and consider material to their assessment of its financial condition
- The company's Promoters and the Promoter Group will jointly continue to retain majority shareholding in the Company after the offer, which will allow them to determine the outcome of the matters requiring the approval of shareholders.
- The company may requires further equity issuance, which will lead to dilution of equity and may affect the market price of the company's Equity Shares or additional funds through incurring debt to satisfy its capital needs, which we may not be able to procure and any future equity offerings by the company.
- The Offer price of the company's Equity Shares may not be indicative of the market price of its Equity Shares after the offer and the market price of the company's Equity Shares may decline below the offer price and you may not be able to sell your Equity Shares at or above the Offer Price.
- The Company will not receive any proceeds from the Offer for Sale portion, and the Selling Shareholder shall be entitled to the Offer Proceeds to the extent of the Equity Shares offered by the Selling Shareholder in the Offer for Sale.
- The company may be subject to surveillance measures, such as the Additional Surveillance Measures (ASM) and the Graded Surveillance Measures (GSM) by the Stock Exchanges which may adversely affect trading price of its Equity Shares.
- Certain data mentioned in this Draft Red Herring Prospectus has not been independently verified.
- Any of the Bidders are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid.
The Issue type of HGS India Ltd is Book Building - SME.
The minimum application for shares of HGS India Ltd is 2400.
The total shares issue of HGS India Ltd is 0.
Initial public offer of up to 28,80,000 equity shares of face value of Rs. 10/- each (the "equity shares") of HGS (India) Limited ("the company" or "HGS" or "the offeror") at an offer price of Rs. [*] per equity share (including share premium of Rs.[*] per equity share) for cash, aggregating up to Rs.[*] crores ("public offer") comprising of a fresh issue of up to 23,26,000 equity shares aggregating to Rs. [*] crores (the "fresh issue") and an offer for sale of up to 5,54,000 equity shares by the selling shareholders, pawan singh, Anjali Singh, Trishna Singh, Beena Dosija, Karan Singh, Preneet Kaur, Anil Seth, Archna Dosija, Girrendra Kaur, Veena Uttamsingh, Anil Henrik Ramel Singh and Chaya Cecilia Ramel Homann ("offer for sale") aggregating to Rs. [*] crores, (hereinafter refferd as "selling shareholders") out of which [*] equity shares of face value of Rs. 10/- each, at an offer price of Rs. [*] per equity share for cash, aggregating Rs. [*] crores will be reserved for subscription by the market maker to the offer (the "market maker reservation portion"). The public offer less market maker reservation portion i.e. offer of [*] equity shares of face value of Rs. 10/- each, at an offer price of Rs. [*] per equity share for cash, aggregating up to Rs. [*] crores is herein after referred to as the "net offer". The public offer and net offer will constitute [*] % and [*] % respectively of the post- offer paid-up equity share capital of the company.
The face value of equity shares is Rs. 10/- each. The offer price is [*] times the face value of the equity shares
The price band and the minimum bid lot will be decided by the company.