Bookbuilding IPO | ₹53 Cr | Listed at NSE SME | Thu, Sep 21, 2023 - Mon, Sep 25, 2023
Hi-Green Carbon IPO is a book build issue of ₹52.80 crores. The issue is a combination of fresh issue of 0.60 crore shares aggregating to ₹44.93 crores and offer for sale of 0.11 crore shares aggregating to ₹7.88 crores.
Hi-Green Carbon IPO bidding started from Sep 21, 2023 and ended on Sep 25, 2023. The allotment for Hi-Green Carbon IPO was finalized on Sep 28, 2023. The shares got listed on NSE SME on Sep 28, 2023.
Hi-Green Carbon IPO price band is set at ₹75 per share. The lot size for an application is 1,600. The minimum amount of investment required by an retail is ₹1,20,000 (1600 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (3,200 shares), amounting to ₹2,40,000.
Beeline Capital Advisors Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Spread X Securities Pvt.Ltd..
Refer to Hi-Green Carbon IPO RHP for detailed Information.
IPO Open
Thu, Sep 21, 2023
IPO Close
Mon, Sep 25, 2023
Issue Price
₹75 per share
Market Cap (Pre-IPO)
₹187.43 Cr
| IPO Date | 21 to 25 Sep, 2023 |
| Listed on | Thu, Sep 28, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹71 to ₹75 |
| Issue Price | ₹75 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 70,40,000 shares (agg. up to ₹53 Cr) |
| Reserved for Market Maker | 4,20,800 shares Spread X Securities Pvt.Ltd. (agg. up to ₹3 Cr) |
| Fresh Issue (Ex Market Maker) | 55,69,200 shares (agg. up to ₹42 Cr) |
| Offer for Sale | 10,50,000 shares of ₹10 (agg. up to ₹8 Cr) |
| Net Offered to Public | 66,19,200 shares (agg. up to ₹50 Cr) |
| Share Holding Pre Issue | 1,90,00,000 shares |
| Share Holding Post Issue | 2,49,90,000 shares |
| NSE Symbol | HIGREEN |
| ISIN | INE0PIC01017 |
Hi-Green Carbon IPO comprises a total issue size of 70,40,000 shares. The net offer to the public is 66,19,200 shares, after excluding 4,20,800 shares allotted on a firm basis. Of the Net offer 33,07,200 (49.96%) are allocated to QIB, 9,95,200 (15.04%) allocated to NII 23,16,800 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 33,07,200 | 49.96% | 46.98% |
| − Anchor Investor Shares Offered | 19,84,000 | 28.18% | |
| − QIB (Ex. Anchor) Shares Offered | 13,23,200 | 18.80% | |
| NII (HNI) Shares Offered | 9,95,200 | 15.04% | 14.14% |
| Retail Shares Offered | 23,16,800 | 35.00% | 32.91% |
| Firm Reservations | |||
| Market Maker Shares Offered | 4,20,800 | 5.98% | |
| Total Shares Offered | 70,40,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,600 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,600 | ₹1,20,000 |
| Retail (Max) | 1 | 1,600 | ₹1,20,000 |
| HNI (Min) | 2 | 3,200 | ₹2,40,000 |
Hi-Green Carbon IPO raises ₹14.88 crore from anchor investors. Hi-Green Carbon IPO Anchor bid date is September 20, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Wed, Sep 20, 2023 |
| Shares Offered | 19,84,000 |
| Anchor Portion (₹ Cr.) | 14.88 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Oct 28, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Dec 27, 2023 |
Incorporated in 2011, Hi-Green Carbon Limited, previously known as Shantol Green Hydrocarbons (India), is engaged in the business of waste tyres recycling.
Hi-Green Carbon's manufacturing plant is located in Rajasthan. The plant operates on a continuous pyrolysis process. It is an uninterrupted working method with a continuous feeding and discharging system controlled by the program logic controller system. It is a fully automatic process and requires almost no human intervention. The plant is installed with a capacity of recycling 100 MT waste tyres per day.
The company's product portfolio includes Recovered Carbon Black (rCB) and Steel Wires under the Raw Material Category, Fuel Oil and Synthesis Gas under the Energy components category. Synthesis Gas is further used in manufacturing sodium silicate commonly known as raw glass.
The company is planning to construct a new manufacturing plant in the Dhule district of Maharashtra, with a capacity of recycling 100 MT waste tyres per day, spanning across 21,500 sq. meters.
Hi-Green Carbon has been certified with Environmental Management Measures with ISO 14001:2015, Occupational Health & Safety Management standards with ISO 45001:2018, Quality Management Standards with ISO 9001:2015, Good Manufacturing Practice (GMP) and RoHS. Its product is REACH compliant in terms of sustainability standards.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|
| Assets | 43.88 | 34.24 | 33.11 |
| Total Income | 79.04 | 51.14 | 24.29 |
| Profit After Tax | 10.85 | 3.68 | 0.10 |
| NET Worth | 22.59 | 11.74 | 8.06 |
| Reserves and Surplus | 3.59 | -7.26 | -10.94 |
| Total Borrowing | 13.62 | 15.87 | 17.83 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Setting up of new Manufacturing Unit at Maharashtra | 17.83 |
| 2 | To Meet Working Capital Requirements | 16.54 |
| 3 | General Corporate Purpose | 6.73 |
| KPI | |
|---|---|
| ROE | 63.19% |
| ROCE | 64.70% |
| Debt/Equity | 0.60 |
| RoNW | 48.02% |
| PAT Margin | 13.81% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 5.71 | |
| P/E (x) | 13.13 | 17.28 |
| Promoter Holding | 100.00% | 71.83% |
| Market Cap | ₹187.43 Cr. |
The Hi-Green Carbon IPO is subscribed 168.92 times on September 25, 2023 7:29:00 PM (Day 3). The public issue subscribed 196.35 times in the retail category, 69.95 times in the QIB category, and 236.76 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 69.95 | 13,23,200 | 9,25,53,600 |
| NII* | 236.76 | 9,93,600 | 23,52,43,200 |
| Retail | 196.35 | 23,16,800 | 45,49,04,000 |
| Total | 168.92 | 46,33,600 | 78,27,00,800 |
Total Application : 2,84,315
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manger Fees including Underwriting Commission | 4.11 |
| 2 | Fees Payable to Registrar to the Issue | 0.01 |
| 3 | Fees Payable Advertising, Marketing Expenses and Printing Expenses | 0.25 |
| 4 | Fees Payable to Regulators including Stock Exchanges and other Intermediaries | 0.05 |
| 5 | Fees payable to Peer Review Auditor | 0.01 |
| 6 | Fees Payable to Market Maker (for Two Years) | 0.06 |
| 7 | Escrow Bank Fees | 0.01 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹75.00 |
| Open | ₹77.00 |
| Low | ₹75.45 |
| High | ₹80.85 |
| Last Trade | ₹80.85 |
Lead Manager Reports
Hi-Green Carbon IPO is a SME IPO of 70,40,000 equity shares of the face value of ₹10 aggregating up to ₹53 Crores. The issue is priced at ₹75 per share. The minimum order quantity is 1600.
The IPO opens on Thu, Sep 21, 2023, and closes on Mon, Sep 25, 2023.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Hi-Green Carbon IPO using UPI as a payment gateway. Zerodha customers can apply in Hi-Green Carbon IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Hi-Green Carbon IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Hi-Green Carbon IPO opens on Thu, Sep 21, 2023 and closes on Mon, Sep 25, 2023.
Hi-Green Carbon IPO lot size is 1600, and the minimum amount required for application is ₹1,20,000.
You can apply in Hi-Green Carbon 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 Hi-Green Carbon IPO will be done on Thursday, September 28, 2023, and the allotted shares will be credited to your demat account by Tue, Oct 3, 2023. Check the Hi-Green Carbon IPO allotment status.
The Hi-Green Carbon IPO listing date is on Thu, Sep 28, 2023.
