HGS (INDIA) IPO IPO
HGS (INDIA) IPO is a SME IPO with a current status of LISTED. The price band is 114 - 120. The issue opens on 30 OCT and closes on 03 NOV. The listing date is 06 NOV.
Price Band
114 - 120
Unofficial GMP
₹27
Lot Size
2,.400 shares
Minimum Investment
₹2,88,000
HGS (INDIA) IPO IPO GMP
The latest available GMP is ₹27. Grey Market Premium is unofficial, may change frequently and does not guarantee the listing price, listing gains or investment returns.
Estimated Listing Price
₹147.00
Estimated Gain
+22.5%
HGS (INDIA) IPO IPO GMP History
30
30 OCT
30
31 OCT
30
01 NOV
25
03 NOV
30
05 NOV
27
06 NOV
HGS (INDIA) IPO IPO Details
- IPO Type
- SME
- Status
- LISTED
- Price Band
- 114 - 120
- Issue Size
- 34.56 Cr
- Issue Type
- Book Build Issue
- Fresh Issue
- ₹26.17 Cr
- Offer for Sale
- ₹6.65 Cr
- Face Value
- 10
- Lot Size
- 2,.400
- Minimum Investment
- 2,88,000
- Exchange
- NSE SME
- Registrar
- Kfin Technologies Ltd.
- Lead Managers
- Hem Securities Ltd.
- Market Maker
- ₹1.74 Cr
HGS (INDIA) IPO IPO Dates
- Open Date
- 30 OCT
- Close Date
- 03 NOV
- Allotment Date
- 04 NOV
- Refund Date
- 05 NOV
- Demat Credit Date
- 05 NOV
- Listing Date
- 06 NOV
HGS (INDIA) IPO IPO Subscription
- QIB
- 137.92x
- NII / HNI
- 424.67x
- Retail
- 235.72x
- Employee
- --
- Total Subscription
- 248.58x
HGS (INDIA) IPO IPO Financials
Revenue
FY2026
₹45.16 Cr
-7.99% vs FY2025
PAT
FY2026
₹11.64 Cr
+10.86% vs FY2025
Total Assets
FY2026
₹110.00 Cr
+5.77% vs FY2025
| Particulars | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue | 35.48 | 49.08 | 45.16 |
| Net Profit | 04.00 | 10.50 | 11.64 |
| Total Assets | 114 | 104 | 110 |
HGS (INDIA) IPO IPO Valuation
- Market Cap (Post IPO)
- ₹130.30 Cr
- EPS
- 12.29
- P/E Ratio
- 9.76x
- Price to Book Value
- 1.15x
- ROE
- 13.35%
- ROCE
- 17.13%
- RONW
- 13.04%
- Debt / Equity
- 0.00x*
- PAT Margin
- 25.77%
- EBITDA Margin
- 37.40%
- Valuation
- FAIR
HGS (INDIA) IPO IPO Market Lot
| Category | Lots | Shares | Investment |
|---|---|---|---|
| Retail Minimum | 2 | 2,400 | ₹2,88,000 |
| Retail Maximum | 2 | 2,400 | ₹2,88,000 |
| Small HNI | 3 | 3,600 | ₹4,32,000 |
| Big HNI | 7 | 8,400 | ₹10,08,000 |
HGS (INDIA) IPO IPO Reservation
- QIB
- 61.28%
- NII / HNI
- 11.67%
- Retail
- 27.05%
HGS (INDIA) IPO Promoter Holding and Anchor Allocation
- Pre-IPO Promoter Holding
- 87.30%
- Post-IPO Promoter Holding
- 64.33%
HGS (INDIA) IPO Company Overview
HGS (India) Limited is an established Indian manufacturer of geophysical instruments and precision-engineered components used in seismic data acquisition and geoscience applications. The company was originally established in 1986 through technical and financial collaboration with Geosource Inc., USA. It manufactures and supplies products under the "HG" brand. Its product portfolio includes geophones, geophone strings, seismic cables, geophysical connectors, seismographs, seismometers, accelerographs and other specialised geophysical equipment. These products are used in oil and gas exploration, mineral exploration, defence research, earthquake studies, geophysical surveys and infrastructure vibration monitoring. The company operates a manufacturing facility in Manesar, Haryana, with in-house capabilities for precision assembly, cable manufacturing, injection moulding and specialised component production. HGS (India) has an international customer base and sells products across approximately 47 countries, including India. It also operates a wholly owned Netherlands subsidiary, HGS Products B.V., to support international sales and marketing. The company is an export-oriented manufacturer, with exports contributing approximately 84.22% of FY2026 revenue from operations.
HGS (INDIA) IPO Business Model
**Core Business – Geophysical Equipment Manufacturing** 1. Geophones - Seismic sensors - High-sensitivity geophone elements - Geophone components 2. Geophone Strings - Land seismic survey strings - Marsh seismic survey strings - Customised sensor assemblies 3. Seismic Cables & Connectors - Seismic data transmission cables - Geophysical connectors - Specialised cable assemblies 4. Seismic Instruments - Seismographs - Seismometers - Accelerographs 5. Other Geophysical Products - Battery chargers - Weight drop systems - Pig tracking systems - Specialised geophysical accessories **End-user Industries** - Oil & Gas Exploration - Mineral Exploration - Defence Research - Earthquake Monitoring - Geophysical Surveys - Infrastructure Monitoring
HGS (INDIA) IPO Objects of the Issue
Total IPO Size: ₹34.56 Crore (at upper price band) Purpose Amount Replacement of existing plant & machinery ₹15.05 Cr In-house gold plating facility ₹1.05 Cr Manufacturing facility infrastructure development ₹3.26 Cr Unidentified acquisitions & General Corporate Purposes Balance as per RHP Offer for Sale ₹6.65 Cr
HGS (INDIA) IPO Strengths
1. Established Industry Experience: The company has been operating in the geophysical equipment manufacturing industry since 1986. 2. Specialised Product Portfolio: Manufactures geophones, geophone strings, seismic cables, connectors and other precision geophysical instruments. 3. International Market Presence: Products sold in approximately 47 countries, including India. 4. Long-standing Customer Relationships: Established relationships with customers involved in seismic surveys and exploration activities. 5. Technical Manufacturing Expertise: In-house manufacturing, precision assembly, cable production and injection moulding capabilities. 6. Backward Integration: In-house manufacturing of critical components helps improve quality control and supply-chain efficiency. 7. Quality Certifications: ISO 9001:2015 certification and ZED Gold Certification. 8. Netherlands Subsidiary: HGS Products B.V. supports international sales and marketing activities. 9. Diversified Applications: Products cater to energy exploration, mineral surveys, defence research and geoscience applications.
HGS (INDIA) IPO Risks
1. High Export Dependency: Approximately 84.22% of FY2026 revenue came from exports, making the business vulnerable to international market conditions. 2. Customer Concentration: The top 10 customers contributed approximately 72.58% of FY2026 revenue. 3. Product Concentration: Geophone strings contributed approximately 66.29% of FY2026 revenue. 4. Foreign Exchange Risk: International transactions expose the company to currency fluctuations and foreign exchange losses. 5. Oil & Gas Industry Dependency: Demand for seismic equipment depends on exploration budgets and capital expenditure in the oil, gas and mineral exploration industries. 6. Technology Risk: Changes in seismic survey technology may reduce demand for existing products or require additional investment. 7. Competition Risk: The company faces competition from domestic and international manufacturers of geophysical equipment. 8. Expansion Execution Risk: Proposed machinery replacement and facility upgrades may face delays, cost overruns and implementation challenges. 9. Geographical Concentration: Manufacturing operations are concentrated at the Manesar facility in Haryana. 10. Acquisition Risk: Proposed unidentified acquisitions may involve execution, valuation and integration uncertainties.
HGS (INDIA) IPO Frequently Asked Questions
What is the HGS (INDIA) IPO IPO price band?
The HGS (INDIA) IPO IPO price band is 114 - 120.
What is the latest HGS (INDIA) IPO IPO GMP?
The latest available HGS (INDIA) IPO IPO GMP in the IPOWEB database is ₹27. GMP is unofficial and does not guarantee a listing gain.
When does the HGS (INDIA) IPO IPO open and close?
The HGS (INDIA) IPO IPO opens on 30 OCT and closes on 03 NOV.
When is the HGS (INDIA) IPO IPO allotment date?
The HGS (INDIA) IPO IPO allotment date is 04 NOV.
When is the HGS (INDIA) IPO IPO listing date?
The HGS (INDIA) IPO IPO listing date is 06 NOV.
What is the HGS (INDIA) IPO IPO subscription?
The latest total subscription available for the HGS (INDIA) IPO IPO is 248.58x.