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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 ₹75.00 per share . The lot size for an application is 1,600. The minimum amount of investment required by an retail is ₹1,13,600 (1600 shares). The minimum lot size investment for 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 Date | September 21, 2023 to September 25, 2023 |
| Listing Date | September 28, 2023 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹71 to ₹75 per share |
| Issue Price Final | ₹75 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 70,40,000 shares (aggregating up to ₹52.80 Cr) |
| Reserved for Market Maker | 4,20,800 shares Spread X Securities Pvt.Ltd. (aggregating up to ₹3.16 Cr) |
| Fresh Issue (Ex Market Maker) | 55,69,200 shares (aggregating up to ₹41.77 Cr) |
| Offer for Sale | 10,50,000 shares of ₹10 (aggregating up to ₹7.88 Cr) |
| Net Offered to Public | 66,19,200 shares (aggregating up to ₹49.64 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,90,00,000 shares |
| Share Holding Post Issue | 2,49,90,000 shares |
Hi-Green Carbon IPO offers total 70,40,000 shares. Out of which 33,07,200 (46.98%) allocated to QIB, 13,23,200 (18.80%) allocated to QIB, 9,95,200 (14.14%) allocated to NII, 23,16,800 (32.91%) allocated to RII and 19,84,000 (28.18%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 4,20,800 (5.98%) |
| QIB Shares Offered | 33,07,200 (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 (14.14%) |
| Retail Shares Offered | 23,16,800 (32.91%) |
| Total Shares Offered | 70,40,000 (100.00%) |
Hi-Green Carbon IPO raises ₹14.88 crore from anchor investors. Hi-Green Carbon IPO Anchor bid date is September 20, 2023. Hi-Green Carbon IPO Anchor Investors list
| Bid Date | September 20, 2023 |
| Shares Offered | 19,84,000 |
| Anchor Portion Size (In Cr.) | 14.88 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 28, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 27, 2023 |
Hi-Green Carbon IPO opens on September 21, 2023, and closes on September 25, 2023.
| IPO Open Date | Thu, Sep 21, 2023 |
| IPO Close Date | Mon, Sep 25, 2023 |
| Tentative Allotment | Thu, Sep 28, 2023 |
| Initiation of Refunds | Fri, Sep 29, 2023 |
| Credit of Shares to Demat | Tue, Oct 3, 2023 |
| Tentative Listing Date | Thu, Sep 28, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Sep 25, 2023 |
Investors can bid for a minimum of 1,600 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 3,310.91 | 3,424.36 | 4,387.83 |
| Total Income | 2,429.39 | 5,113.95 | 7,903.90 |
| Profit After Tax | 9.59 | 367.95 | 1,084.78 |
| Net Worth | 806.28 | 1,174.23 | 2,259.02 |
| Reserves and Surplus | -1,093.72 | -725.77 | 359.02 |
| Total Borrowing | 1,783.10 | 1,586.70 | 1,362.19 |
The market capitalization of Hi-Green Carbon IPO is ₹187.43 Cr.
| KPI | Values |
|---|---|
| ROE | 63.19% |
| ROCE | 64.70% |
| Debt/Equity | 0.60 |
| RoNW | 48.02% |
The Issue Proceeds from the Fresh Issue will be utilized towards the following objects:
[Dilip Davda] The company is in the renewable energy segment and has up the sleeve doubling of capacities. It is endeavoring wealth from waste. The company posted bumper performance for FY22 and FY23. Based on its super earnings for FY23, the issue appears fully priced. Well-informed investors may park moderate funds for medium to long term rewards. Read detail review...
| Listing Date | September 28, 2023 |
| BSE Script Code | |
| NSE Symbol | HIGREEN |
| ISIN | INE0PIC01017 |
| Final Issue Price | ₹75 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹75.00 |
| Open | ₹77.00 |
| Low | ₹75.45 |
| High | ₹80.85 |
| Last Trade | ₹80.85 |
Hi-Green Carbon Ltd.
G-557, Lodhika Industrial Estate,
Metoda G.I.D.C. Gate No. 3,
Metoda, Lodhika
Rajkot, Gujarat, 360021
Phone: +91 92275 74010
Email: compliance@higreencarbon.com
Website: https://www.higreencarbon.com/index.php
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: higreencarbon.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Hi-Green Carbon IPO is a SME IPO of 70,40,000 equity shares of the face value of ₹10 aggregating up to ₹52.80 Crores. The issue is priced at ₹75 per share. The minimum order quantity is 1600.
The IPO opens on September 21, 2023, and closes on September 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 September 21, 2023 and closes on September 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 Tuesday, October 3, 2023. Check the Hi-Green Carbon IPO allotment status.
The Hi-Green Carbon IPO listing date is on Thursday, September 28, 2023.
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