HGS (India) Ltd IPO
IPO Timeline
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | 56.31x | 1,360,800 | 76,627,200 | ₹16 Cr |
| NII (HNI) | 🔥 424.52x | 414,000 | 175,752,000 | ₹5 Cr |
| Retail | 🔥 233.41x | 960,000 | 224,078,400 | ₹12 Cr |
| Market Maker | — | 145,200 shares (agg. up to ₹2 Cr) | — | ₹2 Cr |
| Σ Total | 🔥 174.22x | 2,734,800 | 476,457,600 | ₹33 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹144,000 |
| Retail (Max) | 13 | 15,600 | ₹1,872,000 |
| S-HNI (Min) | 14 | 16,800 | ₹2,016,000 |
| B-HNI (Min) | 67 | 80,400 | ₹9,648,000 |
Financial Statements Amount in ₹ Crore
| Metric | 30 Apr 2026 | 31 Mar 2026 | 31 Mar 2025 |
|---|---|---|---|
| Revenue | 4 | 49 | 53 |
| EBITDA | 2 | 17 | 15 |
| Profit After Tax | 1 | 12 | 11 |
| Net Worth | 90 | 89 | 85 |
| Total Assets | 112 | 110 | 104 |
| Reserves & Surplus | 92 | 91 | 88 |
Valuation & Key Ratios
Grey Market Premium (GMP)
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
- Funding the capital expenditure towards replacement of plant and machinery for our existing manufacturing facility at Manesar, Gurugram – 15.05
- Funding the capital expenditure towards Backward Integration for setting up in-house gold plating facility – 1.05
- Funding the capital expenditure towards Infrastructural development of building on 3rd Floor at our existing manufacturing facility at Manesar, Gurugram – 3.26
- Pursuing unidentified acquisitions and general corporate purpose –
Company Overview
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.
Strengths
- Wide 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.