FY26
Assets110.12
Net Worth89.27
Total Debt[●]
RevenueAnnualised basis45.16
EBITDAAnnualised basis16.89
PATAnnualised basis11.64
EBITDA Margin (%)37.40
At a glance
Updated 2026-11-04 10:32:10HGS (India) is a SME IPO with an issue size of ₹34.56 crore, proposed for listing on NSE EMERGE. The offer opens on 30 Oct 2026 and closes on 3 Nov 2026. The current listing schedule points to 6 Nov 2026.
Issue details
Listing atNSE EMERGE
Issue size₹34.56 Cr
Price band₹114.00–₹114.00
Allotment4 Nov 2026
Listing6 Nov 2026
Grey market
GMP page ↗Latest GMPNO GMP
GMP / upper priceNO DATA
Est. listingNO DATA
GMP is unofficial sentiment data, not an exchange price.
Timeline
Opens30 Oct 2026
Closes3 Nov 2026
Allotment4 Nov 2026
Listing6 Nov 2026
Subscription demand
Full bidding ↗QIB1.77×
sHNI0.13×
bHNI1.19×
NII / HNI1.19×
Retail0.26×
Total231.18×
Lot size
| Investor | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Max) | 2 | 2400 | ₹288,000 |
| S-HNI (Min) | 3 | 3600 | ₹432,000 |
| S-HNI (Max) | 6 | 7200 | ₹864,000 |
| B-HNI (Min) | 7 | 8400 | ₹1,008,000 |
Company
Use of proceeds
| Object | Amount |
|---|---|
| Funding the capital expenditure towards replacement of plant and machinery for our existing manufacturing facility at Manesar, Gurugram | ₹18.50 Cr |
| Funding the capital expenditure towards Backward Integration for setting up in-house gold plating facility | ₹1.05 Cr |
| Funding the capital expenditure towards Infrastructural development of building on 3rd Floor at our existing manufacturing facility at Manesar, Gurugram. | ₹4.72 Cr |
| Pursuing unidentified acquisitions and general corporate purpose | — |
Financial performance
Year-wise operating scale, profitability and balance-sheet context.Assets111.90₹ Cr · -1.6% vs prior year
Net Worth90.41₹ Cr · -13.9% vs prior year
FY25
Assets104.03
Net Worth95.07
Total Debt[●]
RevenueAnnualised basis49.07
EBITDAAnnualised basis15.30
PATAnnualised basis10.50
EBITDA Margin (%)31.18
FY24
Assets113.69
Net Worth104.95
Total Debt[●]
RevenueAnnualised basis35.47
EBITDAAnnualised basis6.15
PATAnnualised basis3.99
EBITDA Margin (%)17.34
30-Apr-26
Assets111.90
Net Worth90.41
Total Debt[●]
RevenueAnnualised basis3.10
EBITDAAnnualised basis1.58
PATAnnualised basis1.11
KPIs
| KPI | HGS (India) IPO | Core4 Engineers IPO | Ravita Engineering IPO | Vans Electroengineerings IPO |
|---|---|---|---|---|
| Size | 34.56 | 54.82 | 116.05 | 33.98 |
| Revenue * | 37.2 | 182.6 | 389.24 | 22.84 |
| PAT * | 13.32 | 24.68 | 40.52 | 5.39 |
| PE | 9.76 x | 15.90 x | 10.42 x | 23.79 x |
| Offer Price | 120 | 93 | 112 | 118 |
| Listing Price (%) | - | ₹ 74.40 (-20%) | ₹ 112.00 (+0%) | ₹ 224.20 (+90%) |
| CMP (%) | - | ₹ 86.12 (-7.4%) | ₹ 107.00 (-4.46%) | ₹ 412.95 (+249.96%) |
Peer comparison
| Company | EPS | P/E | RoNW | NAV |
|---|---|---|---|---|
| HGS (India) IPO | — | 9.76 x | — | — |
| Core4 Engineers IPO | — | 15.90 x | — | — |
| Ravita Engineering IPO | — | 10.42 x | — | — |
| Vans Electroengineerings IPO | — | 23.79 x | — | — |
Registrar & lead managers
Lead managers
- Location
Offer documents
Data is reconciled from multiple public IPO sources. Official exchange filings and offer documents remain the source of truth. Last verified 2026-11-04 10:32:10.
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