FY26
Revenue45.16
EBITDA16.89
PAT11.64
RevenueAnnualised basis45.16
EBITDAAnnualised basis16.89
PATAnnualised basis11.64
EBITDA Margin (%)37.40
At a glance
Updated 2026-11-01 01:12:12HGS (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–₹120.00
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
Listing6 Nov 2026
Subscription demand
Full bidding ↗QIB0.00×
sHNI0.00×
bHNI0.03×
NII / HNI0.03×
Retail0.03×
Total1.53×
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.Revenue111.90₹ Cr · +3,509.7% vs prior year
EBITDA90.41₹ Cr · +5,622.2% vs prior year
3-year financial trendRevenue / EBITDA / PAT
₹ croreFY25
Revenue49.07
EBITDA15.30
PAT10.50
RevenueAnnualised basis49.07
EBITDAAnnualised basis15.30
PATAnnualised basis10.50
EBITDA Margin (%)31.18
FY24
Revenue113.69
EBITDA104.95
PAT[●]
RevenueAnnualised basis35.47
EBITDAAnnualised basis6.15
PATAnnualised basis3.99
EBITDA Margin (%)17.34
Apr-26
Revenue3.10
EBITDA1.58
PAT1.11
EBITDA Margin (%)50.97
30-Apr-26
Revenue111.90
EBITDA90.41
PAT[●]
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 (%) | - | ₹ 78.12 (-16%) | ₹ 105.65 (-5.67%) | ₹ 414.00 (+250.85%) |
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 2026-11-01 01:12:12.
IPO UPDATE ALERTS
Register for IPO Updates →Track HGS (India) without missing an update
Register for subscription, GMP, allotment and listing notifications.