GMP IPO Watch
HGS (India) IPO 2026: GMP Today, Subscription Status, Price Band and Allotment Details
HGS (India) IPO opens on October 30, 2026, to raise approximately ₹34.56 crore through an ...
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SME IPO
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HGSINDIALT
HGS (India) IPO
HGS (India) IPO details, live grey market premium (GMP), dates, price band, lot size, subscription & review.
Live GMP Today
₹30
+25.0%
Est. Listing: ₹150.00
Price Band
₹114 - ₹120
Per equity share
Lot Size
1200 Shares
Min Invest: ₹2,88,000
Issue Size
₹34.56 Cr
Fresh: ₹27.91 Cr
Issue Dates
29 October 2026 – 2 November 2026
Bidding period
Subscription
1.16x
Total overall demand
HGS (India) IPO Details
Key facts at a glance| IPO Open Date | 29 October 2026 | IPO Close Date | 2 November 2026 |
|---|---|---|---|
| Basis of Allotment | 3 November 2026 | Listing Date | 5 November 2026 |
| Price Band | ₹114 - ₹120 per share | Face Value | ₹10 per share |
| Market Lot Size | 1200 Shares | Min Investment (Retail) | ₹2,88,000 |
| Total Issue Size | ₹34.56 Cr | Issue Type | Book Built Issue IPO |
| Fresh Issue | ₹27.91 Cr | Offer for Sale (OFS) | ₹6.65 Cr |
| Listing At | NSE SME | Issue Category | SME Issue |
| Registrar | Kfin Technologies Ltd. | ||
HGS (India) IPO Timetable (Tentative Dates)
| Event | Tentative Date | Status |
|---|---|---|
| IPO Open Date | 29 October 2026 | Confirmed |
| IPO Close Date | 2 November 2026 | Confirmed |
| Basis of Allotment | 3 November 2026 | Tentative |
| Initiation of Refunds | 5 November 2026 | Tentative |
| Credit of Shares to Demat | 5 November 2026 | Tentative |
| IPO Listing Date | 5 November 2026 | Tentative |
| Cut-off time for UPI Mandate Confirmation | 3 November 2026 (5:00 PM) | Deadline |
* Note: Timelines are tentative and subject to regulatory confirmation. UPI mandate approvals must be completed by 5:00 PM on the IPO closing day.
HGS (India) IPO Lot Size & Investment Details
Application limits for Retail and HNI investors| Application Category | Lots | Shares | Amount (at Cut-off) |
|---|---|---|---|
| Retail (Min) | 2 Lots | 2,400 Shares | ₹2,88,000 |
| Retail (Max) | 2 Lots | 2,400 Shares | ₹2,88,000 |
| S-HNI (Min) | 3 Lots | 3,600 Shares | ₹4,32,000 |
| S-HNI (Max) | 6 Lots | 7,200 Shares | ₹8,64,000 |
| B-HNI (Min) | 7 Lots | 8,400 Shares | ₹10,08,000 |
HGS (India) IPO Live GMP & Movement History
Daily unofficial grey market trends
Current Grey Market Premium
₹30 +25.0%
Estimated Listing Price
₹150.00
| Date | IPO GMP (₹) | Estimated Listing Price | Estimated Listing Gain (%) |
|---|---|---|---|
| 1 Nov 2026 | ₹30 | ₹150.00 | +25.00% |
| 31 Oct 2026 | ₹30 | ₹150.00 | +25.00% |
| 30 Oct 2026 | ₹19 | ₹139.00 | +15.83% |
| 29 Oct 2026 | ₹0 | ₹120.00 | 0.00% |
Disclaimer: Grey Market Premium (GMP) figures are purely unofficial and indicative rates traded in the unregulated grey market. GMP is highly volatile and does not guarantee the actual listing price. Always consult a SEBI registered investment advisor before bidding.
HGS (India) IPO Subscription Status
Demand breakdown by investor category
Retail
—
QIB
1.77x
NII / HNI
1.24x
Total
1.16x
HGS (India) Company Financials
Restated figures (₹ in Crores)| Period | Total Assets | Total Revenue | Total Expenses | Profit After Tax (PAT) |
|---|---|---|---|---|
| 2024 | 113.70 Cr. | 37.93 Cr. | 33.25 Cr. | 4.00 Cr. |
| 2025 | 104.04 Cr. | 53.45 Cr. | 39.63 Cr. | 10.51 Cr. |
| 2026 | 110.12 Cr. | 48.91 Cr. | 33.50 Cr. | 11.64 Cr. |
| April 2026 | 111.90 Cr. | 3.79 Cr. | 2.33 Cr. | 1.11 Cr. |
* Amounts reported in ₹ Crores as sourced from company regulatory filings (RHP/DRHP).
HGS (India) IPO Valuation & KPIs
Key metrics pre-issue
EPS
13.64 (Basic)
P/E Ratio
N/A
RoNW
13.04%
NAV per share
₹104.63
RoCE
17.13%
RoE
13.04%
Debt to Equity
–
PAT Margin
25.77%
EBITDA Margin
37.40%
About HGS (India)
HGS India manufactures geophones, seismic cables, and geophysical connectors for the energy and geoscience sector. The company’s products are used in seismic data acquisition to detect, record, and transmit ground vibration signals for subsurface geological analysis. Revenue is generated from selling geophone strings and harnesses, seismic cables, and geophysical instruments and accessories to global and domestic clients across diverse end-user industries. These industries include oil and gas exploration, vibration monitoring, earthquake seismology, geophysical seabed surveys, mine exploration, and defense research. The company operates a primary manufacturing facility in Manesar, Gurugram, equipped with precision geophone element assembly, cable extrusion, injection moulding, and automated testing capabilities. HGS India utilizes a dual-hub operating model, combining production in India with international customer engagement and marketing through its wholly owned subsidiary located in the Netherlands to serve multinational customers across global markets.
HGS (India) IPO Important Dates
| Particular | Dates |
|---|---|
| IPO Open Date | 30 Oct 2026 |
| IPO Close Date | 03 Nov 2026 |
| Basis of Allotment | 04 Nov 2026 |
| Refunds | 05 Nov 2026 |
| Credit to Demat Account | 05 Nov 2026 |
| IPO Listing Date | 06 Nov 2026 |
Note: The timeline for HGS (India) IPO is tentative and subject to change.
HGS (India) Objects of the Issue & Utilisation of Proceeds
| Purpose | Crores |
|---|---|
| Capital expenditure for replacement of plant and machinery at Manesar facility | 15.05 (53.91%) |
| Capital expenditure for backward integration to set up in-house gold plating facility | 1.05 (3.76%) |
| Capital expenditure for infrastructural development of building on 2nd floor at Manesar | 3.26 (11.69%) |
| General corporate purposes | 8.55 (30.64%) |
Note: Objectives are as specified in the DRHP/RHP documents of HGS (India).
HGS (India) Company Financial Report
| Period | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | 37.93 Cr. | 33.25 Cr. | 4.00 Cr. | 113.70 Cr. |
| 2025 | 53.45 Cr. | 39.63 Cr. | 10.51 Cr. | 104.04 Cr. |
| 2026 | 48.91 Cr. | 33.50 Cr. | 11.64 Cr. | 110.12 Cr. |
| April 2026 | 3.79 Cr. | 2.33 Cr. | 1.11 Cr. | 111.90 Cr. |
Note: Financial numbers for HGS (India) are in ₹ Crores unless stated otherwise.
HGS (India) Company Valuation & Key Performance Indicators
| KPI | Values |
|---|---|
| ROE | 13.04% |
| ROCE | 17.13% |
| EBITDA Margin | 37.40% |
| PAT Margin | 25.77% |
| Debt to Equity Ratio | – |
| Earning Per Share (EPS) | 13.64 (Basic) |
| Price/Earning P/E Ratio | - |
| Return on Net Worth (RoNW) | 13.04% |
| Net Asset Value (NAV) | 104.63 |
Note: Valuation KPIs for HGS (India) are computed for FY2026.
HGS (India) Peer Group Comparison
To Be Updated Soon
HGS (India) IPO FAQs
HGS (India) IPO opens for subscription on 29 October 2026 and closes on 2 November 2026.
The price band for HGS (India) IPO is set at ₹114.00 to ₹120.00 per share.
The minimum market lot size is 1200 shares. A retail investor can apply for a minimum of 1 lot requiring an investment of 2,400 Shares (₹2,88,000).
The latest Grey Market Premium (GMP) for HGS (India) IPO is ₹30. GMP represents the unofficial premium at which shares trade prior to listing.
The basis of allotment for HGS (India) IPO is tentatively scheduled for 3 November 2026, and shares are expected to list on the stock exchanges on 5 November 2026.
Kfin Technologies Ltd. is the official registrar for HGS (India) IPO. Investors can check their IPO allotment status directly on the registrar's portal once finalized.
HGS (India) IPO Analysis & Articles