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SYMBOL - HGS Live / Open
HGS (India)
Live GMP₹00.00%
⏳ Allotment not live
📅 IPO Dates
| IPO Open Date | 30 Oct 2026 |
| IPO Close Date | 03 Nov 2026 |
| IPO Allotment Date | 04 Nov 2026 |
| IPO Refund Date | 05 Nov 2026 |
| IPO Share Credit | 05 Nov 2026 |
| IPO Listing Date | 06 Nov 2026 |
📋 IPO Issue Details
| Lot Size | 1200 Shares |
| Price Band | ₹114 to ₹120 |
| One Lot Price (on Cutoff) | ₹2,88,000 |
| Face Value | ₹10 |
| Market Cap | ₹102.39 Cr |
📘 IPO Details
| IPO Category | SME |
| Symbol | HGS |
| Listing At | NSE SME |
📄 IPO TYPE
| Sale Type | Fresh Capital & OFS |
| Total Issue Size | 28,80,000 Shares(agg. up to ₹35 Cr) |
| Fresh Issue | 21,80,800 Shares(agg. up to ₹26 Cr) |
| Offer for Sale | 5,54,000 Shares(agg. up to ₹7 Cr) |
| Market Maker | 1,45,200 Shares(agg. up to ₹2 Cr) |
🤝 Shareholding
| Pre Issue Shares | 85,32,713 Shares |
| Post Issue Shares | 1,08,58,713 Shares |
🏢 About HGS (India)
HGS (India) Limited, a subsidiary of Hinduja Global Solutions, is a leading business process outsourcing (BPO) provider headquartered in Mumbai. Established in 2000, the company leverages the Hinduja Group’s diversified industrial base to deliver end‑to‑end customer experience and digital transformation services across multiple verticals.
Its core business model centers on contract‑based outsourcing, where HGS assumes responsibility for front‑office, back‑office, and analytics functions for multinational corporations. Revenue is generated through multi‑year service agreements, with pricing tied to transaction volumes, fixed fees, and performance‑linked incentives, ensuring recurring cash flows.
The firm serves sectors such as banking, insurance, healthcare, telecom, and technology, partnering with Fortune 500 clients to streamline operations, reduce cost‑to‑serve, and enhance customer satisfaction. Advanced analytics, AI‑driven chatbots, and cloud platforms are embedded in its delivery framework, creating scalable, high‑margin solutions.
HGS’s growth strategy combines organic expansion—through new service lines like robotic process automation—and strategic acquisitions to broaden geographic reach in North America and Europe. The IPO will fund talent development, technology upgrades, and working capital, positioning the company for sustained profitability in a rapidly digitizing BPO market.
Its core business model centers on contract‑based outsourcing, where HGS assumes responsibility for front‑office, back‑office, and analytics functions for multinational corporations. Revenue is generated through multi‑year service agreements, with pricing tied to transaction volumes, fixed fees, and performance‑linked incentives, ensuring recurring cash flows.
The firm serves sectors such as banking, insurance, healthcare, telecom, and technology, partnering with Fortune 500 clients to streamline operations, reduce cost‑to‑serve, and enhance customer satisfaction. Advanced analytics, AI‑driven chatbots, and cloud platforms are embedded in its delivery framework, creating scalable, high‑margin solutions.
HGS’s growth strategy combines organic expansion—through new service lines like robotic process automation—and strategic acquisitions to broaden geographic reach in North America and Europe. The IPO will fund talent development, technology upgrades, and working capital, positioning the company for sustained profitability in a rapidly digitizing BPO market.
📊 Live Subscription & Allocation
| Category | Sub (x) | Shares Offered |
|---|---|---|
| QIB | - | 21,74,400 (58.87%) |
| ↳Anchor Investor | Allocated | 8,13,600 (22.03%) |
| ↳QIB (Ex. Anchor) | 4.88x | 13,60,800 (36.84%) |
| NII (HNI) | 31.56x | 4,14,000 (11.21%) |
| ↳bNII > ₹10L | 33.54x | 2,73,600 (7.41%) |
| ↳sNII < ₹10L | 27.71x | 1,40,400 (3.80%) |
| Retail | 25.56x | 9,60,000 (25.99%) |
| Total Issue | 20.96x | 36,93,600 (100.00%) |
📦 Application Lots
| App. | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2400 | ₹2,88,000 |
| Retail (Max) | 2 | 2400 | ₹2,88,000 |
| S-HNI (Min) | 3 | 3600 | ₹4,32,000 |
| S-HNI (Max) | 6 | 7200 | ₹8,64,000 |
| B-HNI (Min) | 7 | 8400 | ₹10,08,000 |
⚓ Anchor Details
| Anchor Bid Date | 29 Oct 2026 |
| Shares Offered | 8,13,600 |
| Anchor Portion | ₹9.76 Cr. |
| Lock-in Period End Date for 50% shares (30 Days) | 04 Dec 2026 |
| Lock-in Period End Date for Remaining Shares (90 Days) | 02 Feb 2027 |
🎯 Purpose / Objectives
| Issue Objective | Est. Amount (Cr.) |
|---|---|
| Funding the capital expenditure towards replacement of plant and machinery for our existing manufacturing facility at Manesar, Gurugram | ₹15.05 |
| Funding the capital expenditure towards Backward Integration for setting up in-house gold plating facility | ₹1.05 |
| Funding the capital expenditure towards Infrastructural development of building on 3rd Floor at our existing manufacturing facility at Manesar, Gurugram | ₹3.26 |
| Pursuing unidentified acquisitions and general corporate purpose | - |
💰 Financial Information
Amount in ₹ Crore
📈 HGS (India) Fundamentals & Valuation
🏢 Registrar Details
| Registrar Name | Kfin Technologies |
| Contact Phone | 1800 309 4001 |
| Email ID | einward.ris@kfintech.com |
| Office Address | Selenium Tower B, Plot 31 & 32, Gachibowli, Financial District, Hyderabad - 500 032 |
❓ Frequently Asked Questions (HGS (India) IPO)
When will the HGS (India) IPO open and close?
The HGS (India) IPO is scheduled to open for subscription on 30 Oct 2026 and will close on 03 Nov 2026.
When is the allotment date for HGS (India) IPO?
The basis of allotment for the HGS (India) IPO is expected to be finalized on 04 Nov 2026. Investors can check their allotment status online through the registrar, Kfin Technologies.
What is the latest GMP for HGS (India) IPO today?
As of today, the current Grey Market Premium (GMP) for HGS (India) is ₹0. Please note that GMP is highly volatile and indicates unofficial market sentiment prior to listing.
What is the lot size and minimum investment for HGS (India)?
The price band for the HGS (India) IPO is set at ₹114 to ₹120. Retail investors must apply for a minimum of 1 lot, which consists of 1200 shares, requiring a minimum investment amount of ₹2,88,000.
When will the HGS (India) IPO be listed on the stock exchange?
The expected listing date for the HGS (India) IPO is 06 Nov 2026. On this day, the shares will officially begin trading.
🧮 Profit Calculator
Invested
₹1,44,000
Exp. Profit
₹0
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