What are the bidding and listing dates for HGS India IPO?

The issue bidding window is 2026-10-30 to 2026-11-03, with tentative listing on 2026-11-06.

When will HGS India IPO allotment status be finalized?

The basis of allotment for HGS India IPO is expected to be finalized on 04 Nov 2026 by registrar appointed for the issue.

What is the minimum lot size and investment for HGS India IPO retail investors?

Retail investors can apply for a minimum of 1 Lot (1,200 shares) requiring an investment of ₹1,44,000, and up to a maximum of 1 Lot (1,200 shares) amounting to ₹1,44,000.

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HGS India IPO GMP Today

Q: What is HGS India IPO GMP today?

HGS India IPO GMP is not yet available.

Q: What is the price band and lot size for HGS India?

The price band is ₹114.0 to ₹120.0 per equity share, with a minimum bid lot size of 1,200 shares, requiring a minimum investment of ₹2,73,600 / 2,400 shares.

Q: How to check HGS India IPO allotment status online?

You can check HGS India IPO allotment status online in 3 simple steps: 1. Visit the official registrar portal (Official Registrar (KFintech / Link Intime)) or BSE India status portal. 2. Select 'HGS India' from the company dropdown and choose your query mode: PAN Number (recommended), Application Number, or DP Client ID. 3. Enter your 10-digit PAN and Captcha, then click Submit to view your allotted share count and refund/mandate status.

Live Grey Market Premium, subscription demand, price band & listing estimates

About HGS India

HGS (India) Limited is engaged in the manufacturing of geophones, geophone strings, seismic cables, geophysical connectors, and related parts and accessories for the seismic industry. Established in 1986, the company manufactures equipment used to record and transmit ground vibrations for analysing underground geological structures. Its product portfolio includes geophone elements, geophone strings, seismographs, accelerographs, seismometers, seismic system cables, connectors, battery chargers, weight drops, and pig tracking systems. These products are used in oil and gas exploration, mineral exploration, defence research, vibration monitoring, seabed surveys, earthquake studies, and academic research. The company also manufactures cables and connectors for resistivity meters and radar equipment. The company's manufacturing facility is located in Manesar, Haryana. It operates in-house cable extrusion, injection molding, component assembly, and testing facilities. Its products are sold under the "HG" brand. The company also has a wholly owned subsidiary, HGS Products B.V., in the Netherlands, which provides global sales support. Use of proceeds: The IPO consists of both a fresh issue of shares and an offer for sale (OFS). Proceeds from the OFS will go to the respective selling shareholders, whereas the net proceeds from the fresh issue will be utilised for the following purposes: Funding the capital expenditure towards replacement of plant and machinery for the existing manufacturing facility at Manesar, Gurugram — Rs 15.04 crore Funding the capital expenditure towards backward integration for setting up in-house gold plating facility — Rs 1.05 crore Funding the capex for infrastructure development at its existing manufacturing facility at Manesar, Gurugram — Rs 3.26 crore Pursuing unidentified acquisitions and general corporate purposes

SEBI T+3 Timeline Schedule

Verified Live · 30 Oct 2026, 11:06 am

HGS India IPO Tentative Schedule & Important Dates

●

Opens Today

30 Oct 2026

Closes Upcoming

03 Nov 2026

Allotment Upcoming

04 Nov 2026

Refunds Upcoming

05 Nov 2026

Demat Credit Upcoming

05 Nov 2026

Listing Upcoming

06 Nov 2026

IPO details

RHP PDF

Price band ₹114.0 – ₹120.0

Lot size 1,200 shares

Minimum investment ₹2,73,600 / 2,400 shares (2 Lots)

Issue size ₹34.56 Cr

Subscription 0.0133565621370499x

Listing at BSE SME / NSE Emerge

Registrar: Official Registrar (KFintech / Link Intime) · Dates: 2026-10-30 to 2026-11-03 · Listing: 2026-11-06 · Face Value: ₹10 per equity share

Unofficial indicator

HGS India GMP

—

No current GMP quote has been reported yet.

GMP is unofficial and speculative; it does not guarantee listing performance.

Demand Status

HGS India Subscription (x)

QIB Qualified Institutional Buyers

NII Non-Institutional Investor

0.0901287553648069x

RETAIL Retail Individual Investor

0.05x

TOTAL Total

0.0476190476190476x

Investment Limits

Application & Investment Breakup

Category	Lots	Shares	Cut-off Amount
Retail (Min)	1 Lot	1,200 shares	₹1,44,000
Retail (Max)	1 Lot	1,200 shares	₹1,44,000
HNI (Min)	2 Lots	2,400 shares	₹2,88,000

Allocation

Issue Reservation Quotas

Retail Individual Investors (RII) 14,40,000 shares

50.00%

Other Investors / Non-Retail 14,40,000 shares

50.00%

Fundamental Analysis

HGS India IPO Strengths, Key Risks & Financials

Key competitive advantages, business risk factors, and multi-year financial performance from company disclosures:

Financial Summary (₹ in Crores)

Financial Metric	FY24	FY25	FY26
Revenue	₹35.48 Cr	₹49.08 Cr	₹45.16 Cr
Total Assets	₹113.70 Cr	₹104.04 Cr	₹110.12 Cr
Profit	₹4.00 Cr	₹10.50 Cr	₹11.64 Cr

Company Strengths (Pros)

7 Points

HGS (India) Limited has been operating in the seismic equipment manufacturing industry since 1986. Its products cater to several industries, including oil and gas exploration, mineral exploration, earthquake seismology, defence research, and vibration monitoring.
The company has an international presence, with its products sold in around 47 countries, including India, as of April 30, 2026. Its export revenue increased from Rs 22.41 crore (63.17% of revenue from operations) in FY24 to Rs 29.03 crore (59.15%) in FY25 and Rs 38.04 crore (84.22%) in FY26.
The company claims to have in-house manufacturing capabilities, including precision geophone assembly, cable extrusion, injection moulding, coil winding, magnetising, and product testing. Its Manesar facility is equipped with machinery such as extruders, stranders, braiders, winders, and injection molding machines.
The company is ISO 9001:2015 certified for quality management systems and has received ZED Gold Certification (Zero Defect Zero Effect) from the Ministry of MSME. It also claims to conduct specialised tests, including resistance, frequency, sensitivity, distortion, water leakage, and shaker testing.
The company has established relationships with domestic and international customers. In FY26, it served 149 customers, including domestic and overseas buyers, of which around 51 had placed repeat orders during the preceding three financial years.
The company has developed specialised seismic sensors, including the HG-5VHS high-sensitivity sensor and HG-2 low-frequency sensor, which have entered the initial stage of commercialisation. It has also developed a geophone sensor network for avalanche detection and monitoring, which it states has been deployed with specialised government institutions.
The company has reported a consistent increase in profit after tax (PAT) over the last three financial years. Its PAT increased from Rs 4.00 crore in FY24 to Rs 10.50 crore in FY25 and Rs 11.64 crore in FY26.

Key Risks & Concerns (Cons)

10 Points

The company depends on a limited number of customers for a significant portion of its revenue. Revenue from its top 10 customers amounted to Rs 21.73 crore (61.24%) in FY24, Rs 27.60 crore (56.24%) in FY25 and Rs 32.78 crore (72.58%) in FY26. The company has no long-term contracts with most customers, and the loss of major customers could affect revenue and profitability.
The company derives a significant portion of its revenue from exports. Export revenue amounted to Rs 22.41 crore (63.17%) in FY24, Rs 29.03 crore (59.15%) in FY25 and Rs 38.04 crore (84.22%) in FY26. Changes in international trade policies, tariffs, geopolitical conditions, or demand in key overseas markets could adversely affect the company's business and financial performance.
The company depends heavily on geophone strings/harnesses and seismic cables for its revenue. Revenue from geophone strings/harnesses accounted for 66.98% in FY24, 51.15% in FY25, and 66.29% in FY26, while seismic cables contributed 23.06%, 26.95%, and 20.39%, respectively. Any decline in demand or inability to upgrade these products could affect its financial performance.
The company has reported low capacity utilisation across several product categories. Capacity utilisation for geophone strings/harnesses declined from 27.07% in FY25 to 13.63% in FY26, while that of seismic cables (units) declined from 64.99% to 24.32%. Continued underutilisation, or an inability to utilise expanded capacity, could affect operating efficiency and profitability.
The company derives a significant portion of its revenue from oil and gas exploration and geophysical seabed surveys. Revenue from oil and gas exploration amounted to Rs 10.71 crore (30.20%) in FY24, Rs 16.61 crore (33.84%) in FY25 and Rs 12.51 crore (27.70%) in FY26. Meanwhile, revenue from geophysical seabed surveys stood at Rs 6.16 crore (17.37%), Rs 14.05 crore (28.62%) and Rs 12.64 crore (27.99%), respectively. Any slowdown in these industries could adversely affect demand for the company's products.
The company maintains substantial inventories and trade receivables. Inventories stood at Rs 42.38 crore in FY24, Rs 37.96 crore in FY25, and Rs 45.32 crore in FY26, while trade receivables increased from Rs 1.44 crore to Rs 2.80 crore and Rs 3.85 crore, respectively, during this period. Failure to manage inventories or collect outstanding payments could affect its liquidity and working capital requirements.
The company depends on a limited number of suppliers for raw materials and components. Purchases from its top 10 suppliers amounted to Rs 5.50 crore (81.39%) in FY24, Rs 8.82 crore (77.12%) in FY25 and Rs 11.60 crore (69.32%) in FY26. The company has no long-term supply agreements with these suppliers, and any procurement disruption could affect production and profitability.
The company relies heavily on imported raw materials and components. Imports amounted to Rs 4.03 crore (59.58% of total purchases) in FY24, Rs 7.89 crore (68.99%) in FY25 and Rs 12.32 crore (73.65%) in FY26. Adverse changes in foreign exchange rates, import restrictions, or international supply chains could increase procurement costs and affect profitability.
The company and its promoters and directors are involved in certain ongoing legal proceedings. Any adverse judgments in these cases could affect the company's financial condition and operations.
The company's wholly owned subsidiary, HGS Products B.V., Netherlands, incurred a loss of Rs 0.08 crore in FY24. Future operating losses or the need for additional financial support could weigh on the company’s operations and financials.

Grey Market Trend

HGS India IPO GMP Day-by-Day Closing History & Trend

Track verified daily closing grey market snapshots, price progression, and estimated listing expectations leading up to exchange debut:

No historical daily records have been logged yet for HGS India. The daily tracker updates as new pre-listing quotes are recorded.

Grey Market Premium (GMP) data reflects unofficial over-the-counter quotes between private brokers. It does not represent guaranteed exchange pricing or SEBI-regulated trading.

Investor FAQs

HGS India IPO Frequently Asked Questions

What is HGS India IPO GMP today?

As per latest market dealer indications, HGS India IPO Grey Market Premium (GMP) is recorded at ₹Not Available. Grey market premium is unofficial, speculative, and subject to rapid change.

What is the estimated listing price for HGS India IPO?

Estimated listing price is calculated by adding the upper price band to the prevailing GMP once official bands and GMP are confirmed.

What are the opening and closing dates for HGS India IPO?

The issue bidding opens on 2026-10-30 and closes on 2026-11-03. The tentative listing date on the exchanges is 2026-11-06.

What is the price band and lot size for HGS India?

The price band is ₹114.0 to ₹120.0 per equity share. The minimum bid lot size is 1,200 shares, requiring a minimum investment of ₹2,73,600 / 2,400 shares (2 Lots).

When is HGS India IPO allotment date?

The basis of allotment for HGS India IPO is expected to be finalized on 04 Nov 2026. Once finalized, you can verify your allotment status online on our IPO Allotment Portal or directly via the official registrar.

What is the minimum and maximum investment for HGS India IPO?

Retail individual investors can apply for a minimum of 1 Lot (1,200 shares) amounting to ₹1,44,000, and up to a maximum of 1 Lot (1,200 shares) amounting to ₹1,44,000. For Small HNI (sNII), the minimum application is 2 Lots (₹2,88,000).

How to check HGS India IPO allotment status online?

You can check HGS India IPO allotment status in 3 simple steps:

1. Open Official Registrar Portal: Click to visit Official Registrar (KFintech / Link Intime) ↗ or the BSE India Status Portal ↗.
2. Select Company & Query Mode: Select "HGS India" from the issue dropdown and choose your query mode: PAN Number (recommended), Application Number, or DP Client ID.
3. Enter Details & Submit: Enter your 10-digit PAN and Captcha, then click Submit. Your allocated share count, refund status, or bank mandate release will display instantly.

You can also check recent company allotments on our dedicated IPO Allotment Portal.

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