Fixed Price IPO | ₹10 Cr | Listed at NSE SME | Wed, Dec 27, 2023 - Fri, Dec 29, 2023
HRH Next IPO is a fixed price issue of ₹9.57 crores. The issue is entirely a fresh issue of 0.27 crore shares of ₹9.57 crore.
HRH Next IPO bidding started from Dec 27, 2023 and ended on Dec 29, 2023. The allotment for HRH Next IPO was finalized on Jan 1, 2024. The shares got listed on NSE SME on Jan 3, 2024.
HRH Next IPO price is ₹36 per share. The lot size for an application is 3,000. The minimum amount of investment required by an individual investor (retail) is ₹1,08,000 (3000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (6,000 shares), amounting to ₹2,16,000.
Finshore Management Services Ltd. is the book running lead manager and Cameo Corporate Services Ltd. is the registrar of the issue. The Market Maker of the company is Nikunj Stock Brokers Ltd..
Refer to HRH Next IPO RHP for detailed Information.
IPO Open
Wed, Dec 27, 2023
IPO Close
Fri, Dec 29, 2023
Issue Price
₹36 per share
Market Cap (Pre-IPO)
₹33.14 Cr
| IPO Date | 27 to 29 Dec, 2023 |
| Listed on | Wed, Jan 3, 2024 |
| Face Value | ₹10 per share |
| Issue Price | ₹36 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 26,58,000 shares (agg. up to ₹10 Cr) |
| Reserved for Market Maker | 1,35,000 shares Nikunj Stock Brokers Ltd. (agg. up to ₹0.4860 Cr) |
| Fresh Issue (Ex Market Maker) | 25,23,000 shares (agg. up to ₹9 Cr) |
| Net Offered to Public | 25,23,000 shares (agg. up to ₹9 Cr) |
| Share Holding Pre Issue | 65,47,438 shares |
| Share Holding Post Issue | 92,05,438 shares |
| NSE Symbol | HRHNEXT |
| ISIN | INE0R3501012 |
HRH Next IPO comprises a total issue size of 26,58,000 shares. The net offer to the public is 25,23,000 shares, after excluding 1,35,000 shares allotted on a firm basis. Of the Net offer 12,60,000 (49.94%) allocated to NII 12,63,000 (50.06%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 12,60,000 | 49.94% | 47.40% |
| Retail Shares Offered | 12,63,000 | 50.06% | 47.52% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,35,000 | 5.08% | |
| Total Shares Offered | 26,58,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 3,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3,000 | ₹1,08,000 |
| Retail (Max) | 1 | 3,000 | ₹1,08,000 |
| HNI (Min) | 2 | 6,000 | ₹2,16,000 |
Incorporated in Feburary 2007, HRH Next Services Limited is a business process outsourcing service provider offering services such as chat support, backend support, voice support and email support.
The company's current business clients are from telecom, foodtech, autotech, e-commerce, fintech, education, healthcare, government, banking etc.
The company's services are
Inbound Voice Process: This department is responsible for handling customer calls on various topics. Whenever a customer calls, the company's representative endeavors to resolve the issue.
Outbound Voice Process: This department includes two services: Outbound Sales and Outbound Services. Outbound Sales includes lead generation, up-selling & cross-selling, advertising campaigns and product launch campaigns. On the other hand, Outbound Services includes customer service follow-up calls, renewal reminders, order and invoice information, problem resolution and escalations.
The company is ISO 9001:2015 certified for quality management services and ISO/IEC 27001:2022 certified for the information security management system. The company specializes in providing business process outsourcing services, inbound/outbound services via phone, email, chat, social media and digital channels, business support service, chatbot support, consulting and related advisory services.
As of November 30, 2023, HRH Next has 284 employees who handle day-to-day operations, administrative tasks, secretarial work, legal matters, marketing, and accounting functions in accordance with their respective designated goals.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 31.14 | 28.82 | 18.65 | 12.98 |
| Total Income | 21.53 | 51.25 | 44.28 | 24.24 |
| Profit After Tax | 1.51 | 3.48 | 0.93 | 0.25 |
| NET Worth | 13.21 | 10.45 | 6.97 | 6.04 |
| Reserves and Surplus | 6.66 | 10.25 | 6.77 | 5.84 |
| Total Borrowing | 10.84 | 9.91 | 4.43 | 4.02 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Expansion of our Services by launching 2 (two) Call Centres | 1.35 |
| 2 | Capital Expenditure towards purchase of Computer Systems | 4.30 |
| 3 | Working capital requirements | 0.92 |
| 4 | General corporate expenses | 1.50 |
| 5 | Issue related expenses | 1.50 |
| KPI | Sep 30, 2023 | Mar 31, 2023 |
|---|---|---|
| ROE | 12.75 | 39.94% |
| ROCE | 18.12 | 46.57 |
| Debt/Equity | 0.08 | 0.12 |
| RoNW | 11.42 | 33.29% |
| PAT Margin | 7.05% | 6.80% |
| EBITDA Margin | 17.16% | 13.40% |
| Price to Book Value | 1.56 | 2.14 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 5.31 | 3.28 |
| P/E (x) | 6.78 | 10.99 |
| Promoter Holding | 97.88% | 69.61% |
| Market Cap | ₹33.14 Cr. |
The HRH Next Services IPO is subscribed 66.29 times on December 29, 2023 7:29:00 PM (Day 3). The public issue subscribed 63.61 times in the retail category, [.] times in the QIB category, and 66.91 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 66.91 | 12,63,000 | 8,45,04,000 |
| Retail | 63.61 | 12,60,000 | 8,01,45,000 |
| Total | 66.29 | 25,23,000 | 16,72,50,000 |
Total Application : 26,715
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manager Fees, Underwriting commission, including other intermediaries Fees, Printing and distribution of Issue Stationary | 0.33 |
| 2 | Regulators Including Stock Exchanges | 0.17 |
| 3 | Advertising and Marketing Expenses | 1.00 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹36.00 |
| Open | ₹41.00 |
| Low | ₹40.00 |
| High | ₹43.05 |
| Last Trade | ₹43.05 |
Lead Manager Reports
HRH Next IPO is a SME IPO of 26,58,000 equity shares of the face value of ₹10 aggregating up to ₹10 Crores. The issue is priced at ₹36 per share. The minimum order quantity is 3000.
The IPO opens on Wed, Dec 27, 2023, and closes on Fri, Dec 29, 2023.
Cameo Corporate Services Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in HRH Next IPO using UPI as a payment gateway. Zerodha customers can apply in HRH Next IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in HRH Next IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The HRH Next IPO opens on Wed, Dec 27, 2023 and closes on Fri, Dec 29, 2023.
HRH Next IPO lot size is 3000, and the minimum amount required for application is ₹1,08,000.
You can apply in HRH Next 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 HRH Next IPO will be done on Monday, January 1, 2024, and the allotted shares will be credited to your demat account by Tue, Jan 2, 2024. Check the HRH Next IPO allotment status.
The HRH Next IPO listing date is on Wed, Jan 3, 2024.
