HGS (India) IPO Details
| IPO Open Date | 2026 |
| IPO Close Date | 2026 |
| Face Value | ā¹10 Per Equity Share |
| IPO Price Band | ā¹[.] to ā¹[.] Per Share |
| Issue Size | Approx ā¹[.] Crores, 28,80,000 Equity Shares |
| Fresh Issue | Approx ā¹[.] Crores, 23,26,000 Equity Shares |
| Offer for Sale: | Approx 5,54,000 Equity Shares |
| Issue Type | Book Building Issue |
| IPO Listing | NSE SME |
| DRHP Draft Prospectus |  |
| RHP Draft Prospectus | |
HGS (India) IPO Review & Key Points
- Review:
HGS (India) IPO Market Lot
The HGS (India) IPO minimum market lot is [.] shares with ā¹[.] application amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | – | – | ā¹- |
| Retail Maximum | – | – | ā¹- |
| S-HNI Minimum | – | – | ā¹- |
| S-HNI Maximum | – | – | ā¹- |
| B-HNI Minimum | – | – | ā¹- |
IPO Reservation
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | – Shares | 50% |
| NII Shares Offered | – Shares | 15% |
| Retail Shares Offered | – Shares | 35% |
HGS (India) IPO Anchor Investors
| Anchor Bidding Date | 2026 |
| Anchor Investors List | |
| Shares Offered | [.] Shares |
| Anchor Size | [.] Cr. |
| lock-in period end date 50% shares (30 Days) | 2026 |
| lock-in period end date 50% shares (90 Days) | 2026 |
HGS (India) IPO Dates
The HGS (India) IPO date is 2026 and the close date is 2026. The HGS (India) IPO allotment will be finalized on 2026 and the IPO listing on 2026.
| IPO Open Date: | 2026 |
| IPO Close Date: | 2026 |
| Basis of Allotment: | 2026 |
| Refunds: | 2026 |
| Credit to Demat Account: | 2026 |
| IPO Listing Date: | 2026 |
| IPO Bidding Cut-off Time: | 2026 – 5 PM |
Promoters and Holding Pattern
The promoters of the company are Anil Dass, Shashi Singh, Cecilia Margareta Singh Ramel and Sowar Private Limited.
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 85,32,713 | 87.30% |
| Promoter Holding Post Issue | 1,08,58,713 | -% |
Objects of the Issue & Utilisation of proceeds
| Purpose | Crores |
| Funding the capital expenditure towards replacement of plant and machinery for our existing manufacturing facility at Manesar, Gurugram | ā¹18.50 |
| Funding the capital expenditure towards Backward Integration for setting up in-house gold plating facility | ā¹1.05 |
| Funding the capital expenditure towards Infrastructural development of building on 3rd Floor at our existing manufacturing facility at Manesar, Gurugram | ā¹4.73 |
| Pursuing unidentified acquisitions and general corporate purpose | – |
About HGS (India) IPO
HGS (India) Limited, established in 1986, is a company that makes specialised equipment used to study what lies beneath the Earthās surface, especially for seismic and geoscience applications.
The company was formed with technical and financial support from Geosource Inc., USA, and operates under the brand name āHGā.
It manufactures products like geophones, seismic cables, connectors, and other accessories used to detect and record ground movements. These tools are widely used in areas such as oil and gas exploration, mineral discovery, earthquake research, defence studies, and monitoring the safety of large infrastructure projects.
As of September 30, 2025, the company has built a presence in 21 countries and works with 146 clients in India and abroad. It also has a team of 161 permanent employees.
HGS (India) IPO Company Financial Report
Amount ā¹ in Crores
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ā¹33.77 | ā¹28.95 | ā¹3.67 | ā¹114.52 |
| 2024 | ā¹37.93 | ā¹33.25 | ā¹4.00 | ā¹113.70 |
| 2025 | ā¹53.45 | ā¹39.63 | ā¹10.51 | ā¹104.04 |
| Sep 2025 | ā¹28.13 | ā¹18.66 | ā¹6.82 | ā¹111.37 |
HGS (India) IPO Valuation – FY2025
Check HGS (India) IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 12.34% |
| ROCE: | 16.23% |
| EBITDA Margin: | 31.19% |
| PAT Margin: | 21.40% |
| Debt to equity ratio: | – |
| Earning Per Share (EPS): | ā¹10.61 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 12.34% |
| Net Asset Value (NAV): | ā¹85.99 |
Peer Group Comparison
- There are no listed companies
IPO Lead Managers aka Merchant Bankers
- Hem Securities Ltd.
Company Address
HGS (India) Ltd.
Portion-2, First & Second Floor,
A-259,
Defence Colony
New Delhi, New Delhi, 110024
Phone: 011-46066604
Email: cs@hgsindia.com
Website: https://www.hgsindia.com/
IPO Registrar
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: hgs.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
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Note: The HGS (India) IPO price band and date are officially announced. The (HGS (India) IPO grey market premium) will be added to the IPO GMP page as it will start).
