Bookbuilding IPO | ₹[.] Cr | Listing at NSE SME |
HGS (India) Ltd. has filed a Draft Red Herring Prospectus (DRHP) with the exchange on March 30, 2026 to raise funds through Initial Public Offer (IPO).
HGS (India) Ltd. IPO is a Book Build Issue of 0.29 crore equity shares consisting of a fresh issue of upto 0.23 crore equity shares and an offer for sale (OFS) of upto 0.06 crore equity shares.
The equity shares are proposed to be listed on the NSE SME. Hem Securities Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. Key details like IPO dates, IPO price bands and lot size are yet to be announced.
Refer to HGS (India) IPO DRHP for more details.
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | |
| Lot Size | |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 28,80,000 shares (agg. up to ₹[.] Cr) |
| Fresh Issue | 23,26,000 shares (agg. up to ₹[.] Cr) |
| Offer for Sale | 5,54,000 shares of ₹10 (agg. up to ₹[.] Cr) |
| Share Holding Pre Issue | 85,32,713 shares |
| Share Holding Post Issue | 1,08,58,713 shares |
| Description | Date |
|---|---|
| Filed with SEBI/Exchange | Mon, Mar 30, 2026 |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII Shares Offered | Not less than 15% of the Net Offer |
Incorporated in 1986, HGS (India) Limited is engaged in the manufacturing of geophysical equipment and components used in seismic and geoscience applications.
The company was established in technical and financial collaboration with Geosource Inc., USA, and operates under the brand name “HG”.
The company’s product portfolio includes geophones, geophone strings, seismic cables, connectors, and a range of seismic accessories such as seismographs, seismometers, accelerographs, and related equipment.
These products are designed for applications across oil & gas exploration, mineral exploration, defence research, earthquake seismology, and infrastructure monitoring.
The company has a manufacturing facility in Manesar, Haryana, equipped with precision assembly lines, injection moulding machines, and cable manufacturing capabilities. It has also undertaken backward integration by producing key components in-house.
As of September 30, 2025, the company serves customers across 21 countries and caters to 146 domestic and international clients.
The company has 161 permanent employees.
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 111.37 | 104.04 | 113.70 | 114.52 |
| Total Income | 28.13 | 53.45 | 37.93 | 33.77 |
| Profit After Tax | 6.82 | 10.51 | 4.00 | 3.67 |
| EBITDA | 10.21 | 15.31 | 6.16 | 6.37 |
| NET Worth | 87.72 | 85.16 | 95.04 | 94.52 |
| Reserves and Surplus | 90.53 | 87.97 | 95.47 | 94.96 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding the capital expenditure towards replacement of plant and machinery for our existing manufacturing facility at Manesar, Gurugram | 18.50 |
| 2 | Funding the capital expenditure towards Backward Integration for setting up in-house gold plating facility | 1.05 |
| 3 | Funding the capital expenditure towards Infrastructural development of building on 3rd Floor at our existing manufacturing facility at Manesar, Gurugram | 4.73 |
| 4 | Pursuing unidentified acquisitions and general corporate purpose | |
| Total | 24.28 |
| KPI | Sep 30, 2025 | Mar 31, 2025 |
|---|---|---|
| ROCE | 10.79% | 16.23% |
| RoNW | 7.77% | 12.34% |
| PAT Margin | 26.04% | 31.19% |
| EBITDA Margin | 38.99% | 21.40% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 12.31 | 12.55 |
| Promoter Holding | 87.30% |
Lead Manager Reports
HGS (India) IPO is a SME IPO of 28,80,000 equity shares of the face value of ₹10 aggregating up to ₹[.] Crores. The issue is priced at To be declared. The minimum order quantity is .
The HGS (India) IPO open and close dates are not available as of now.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in HGS (India) IPO using UPI as a payment gateway. Zerodha customers can apply in HGS (India) IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in HGS (India) IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The HGS (India) IPO dates are not announced. Please check back again after some time.
HGS (India) IPO lot size and the minimum order quantity is not available at this time. Please check again later.
You can apply in HGS (India) IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for HGS (India) IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the HGS (India) IPO allotment status.
The HGS (India) IPO listing date is not yet announced. The tentative date of listing is .
