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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 ₹36.00 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). The minimum lot size investment for 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 Date | December 27, 2023 to December 29, 2023 |
| Listing Date | January 3, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹36 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 26,58,000 shares (aggregating up to ₹9.57 Cr) |
| Reserved for Market Maker | 1,35,000 shares Nikunj Stock Brokers Ltd. (aggregating up to ₹0.4860 Cr) |
| Net Offered to Public | 25,23,000 shares (aggregating up to ₹9.08 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 65,47,438 shares |
| Share Holding Post Issue | 92,05,438 shares |
HRH Next Services IPO offers total 26,58,000 shares. Out of which 12,60,000 (47.40%) allocated to NII, 12,63,000 (47.52%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,35,000 (5.08%) |
| NII (HNI) Shares Offered | 12,60,000 (47.40%) |
| Retail Shares Offered | 12,63,000 (47.52%) |
| Total Shares Offered | 26,58,000 (100.00%) |
HRH Next IPO opens on December 27, 2023, and closes on December 29, 2023.
| IPO Open Date | Wed, Dec 27, 2023 |
| IPO Close Date | Fri, Dec 29, 2023 |
| Tentative Allotment | Mon, Jan 1, 2024 |
| Initiation of Refunds | Tue, Jan 2, 2024 |
| Credit of Shares to Demat | Tue, Jan 2, 2024 |
| Tentative Listing Date | Wed, Jan 3, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Dec 29, 2023 |
Investors can bid for a minimum of 3,000 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 | 3,000 | ₹1,08,000 |
| Retail (Max) | 1 | 3,000 | ₹1,08,000 |
| HNI (Min) | 2 | 6,000 | ₹2,16,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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.
HRH Next Services Limited's revenue increased by 15.73% and profit after tax (PAT) rose by 273.85% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 3,113.86 | 2,882.29 | 1,864.85 | 1,298.10 |
| Total Income | 2,152.51 | 5,124.96 | 4,428.42 | 2,424.26 |
| Profit After Tax | 150.84 | 347.79 | 93.03 | 25.18 |
| Net Worth | 1,320.71 | 1,044.79 | 697.00 | 603.97 |
| Reserves and Surplus | 665.96 | 1,024.79 | 677.00 | 583.97 |
| Total Borrowing | 1,083.77 | 990.57 | 442.58 | 401.88 |
| Amount in ₹ Lakhs | ||||
The market capitalization of HRH Next IPO is ₹33.14 Cr.
| KPI | Values |
|---|---|
| ROE | 39.94% |
| ROCE | 6.80% |
| Debt/Equity | 0.12 |
| RoNW | 33.29% |
| Price to Book Value | 2.14 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 5.31 | 3.28 |
| P/E (x) | 6.78 | 10.99 |
The Objects of the Issue are:
[Dilip Davda] The company is providing call centre services under BPO segment, which is a highly competitive and fragmented segment. Based on FY24 annualized earnings, the issue appears fully priced. The sustainability of such margins remains a major concern. Well-informed investors may park moderate funds for the medium term. Read detail review...
| Listing Date | January 3, 2024 |
| BSE Script Code | |
| NSE Symbol | HRHNEXT |
| ISIN | INE0R3501012 |
| Final Issue Price | ₹36 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹36.00 |
| Open | ₹41.00 |
| Low | ₹40.00 |
| High | ₹43.05 |
| Last Trade | ₹43.05 |
HRH Next Services Ltd.
4-1-976,
Abid Road,
Hyderabad, Telangana, 500001
Phone: +91 95536 04777
Email: cs@hrhnext.com
Website: http://www.hrhnext.com/
Cameo Corporate Services Ltd.
Phone: +91-44-28460390
Email: ipo@cameoindia.com
Website: https://ipo.cameoindia.com/
HRH Next IPO is a SME IPO of 26,58,000 equity shares of the face value of ₹10 aggregating up to ₹9.57 Crores. The issue is priced at ₹36 per share. The minimum order quantity is 3000.
The IPO opens on December 27, 2023, and closes on December 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 December 27, 2023 and closes on December 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 Tuesday, January 2, 2024. Check the HRH Next IPO allotment status.
The HRH Next IPO listing date is on Wednesday, January 3, 2024.
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