Harikanta Overseas IPO 2026: Date, Price Band, GMP Today, Allotment & Review
Harikanta Overseas Limited is launching its SME IPO on May 20, 2026, with the subscription window open through May 22, 2026. The issue is a 100% Fresh Issue of 26,70,000 equity shares, proposed for listing on the BSE SME platform on May 27, 2026.
Harikanta Overseas is a Surat-based textile manufacturer and exporter, specializing in synthetic fabrics for women's ethnic wear including sarees, kurtas, and dress materials. With approximately 45% of FY25 revenue coming from international markets, primarily Cambodia as the company operates an export-oriented business within Surat's established textile ecosystem.
This blog covers the complete picture for the Harikanta Overseas IPO 2026 including dates, price band, lot size, issue structure, financials, GMP, allotment process, and how to apply.
1. Harikanta Overseas IPO Dates 2026
The complete Harikanta Overseas IPO date schedule is as follows:
| Event | Date |
|---|---|
| IPO Open Date | Wednesday, May 20, 2026 |
| IPO Close Date | Friday, May 22, 2026 |
| Basis of Allotment | Monday, May 25, 2026 |
| Refund / Credit of Shares | Tuesday, May 26, 2026 |
| Listing Date (BSE SME) | Wednesday, May 27, 2026 |
Track live Harikanta Overseas IPO subscription status from May 20 on the IPOwiz app.
2. Issue Structure: 100% Fresh Issue
The Harikanta Overseas IPO is structured entirely as a Fresh Issue as there is no Offer for Sale (OFS) component. This means all proceeds from the IPO will go directly into the company for business use, and no promoter exit is taking place at this stage.
| Component | Shares | Proceeds Go To |
|---|---|---|
| Fresh Issue | 26,70,000 shares | Company (working capital & business use) |
| Offer for Sale (OFS) | None | - |
| Market Maker Reservation | 1,34,400 shares | Aftertrade Broking Pvt Ltd |
The investor allocation breakdown is as follows:
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | 50% |
| Retail Individual Investors (RII) | 35% |
| Non-Institutional Investors (NII/HNI) | 15% |
3. Harikanta Overseas IPO Price Band and Lot Size
The official Harikanta Overseas IPO price band and lot size have not been announced yet, as the company is currently at the DRHP (Draft Red Herring Prospectus) stage. The price band will be confirmed in the final Red Herring Prospectus (RHP) filed before the subscription window opens on May 20, 2026.
For SME IPOs with a face value of ₹10 per share and a standard BSE SME lot structure, the minimum retail investment typically falls in the ₹1,00,000-₹1,50,000 range, note that SME IPO lot sizes are significantly larger than mainboard retail lots of ₹14,000-₹15,000. Confirm the exact lot size once the RHP is filed.
Set a price band alert on the IPOwiz app to get notified the moment it is officially declared.
4. About Harikanta Overseas Limited
Harikanta Overseas Limited is a Surat-based textile manufacturer incorporated in 2018 as Harikanta Overseas Private Limited, converted to a public limited company in 2025 ahead of its IPO. The company was promoted by the Gotawala family, whose background includes a multi-generational textile manufacturing business.
The company operates an integrated textile manufacturing facility in Surat's Bamroli industrial area and focuses on synthetic fabrics used in women's ethnic wear. In 2024, Harikanta Overseas acquired a 99.99% stake in Harikanta Weaving Pvt Ltd, expanding its manufacturing capacity. The company employs 74 people and holds three ISO certifications covering quality management, environmental management, and occupational health and safety.
| Year | Milestone |
|---|---|
| 2018 | Incorporated as Harikanta Overseas Private Limited |
| 2024 | Acquired 99.99% stake in Harikanta Weaving Pvt Ltd |
| 2024 | Obtained ISO 9001, ISO 14001, and ISO 45001 certifications |
| 2025 | Converted to public limited company ahead of IPO |
5. Product Portfolio: What the Company Makes
Harikanta Overseas manufactures five primary textile fabric categories, primarily targeting ethnic wear manufacturers and apparel exporters:
| Product Category | Description | Primary Use |
|---|---|---|
| Ikat Fabrics | Traditional resist-dyed patterned fabrics | Export (Cambodia & Asian markets) |
| Saree Fabrics | Traditional saree fabrics with contemporary designs | Domestic & export |
| Polyester Garment Fabrics | Durable synthetic fabrics for garment applications | Multi-purpose apparel |
| Dhupion Fabrics | Textured premium synthetic fabrics | Men's kurtas & ethnic apparel |
| Poly Linen & Natural Fabrics | Blended synthetic and natural fiber fabrics | Sustainable fashion segment |
The company has indicated plans to expand into nylon fabric products in future phases of growth.
6. Manufacturing Facility and Surat Location
Harikanta Overseas operates a single integrated manufacturing facility located at:
28, Sairam Industrial Estate-2, Bamroli, Surat, Gujarat - 394107
Key facility details:
- Facility area: 953.93 sq. meters
- Setup: Integrated production covering fabric manufacturing and textile processing
- Location advantage: Within Surat's established textile manufacturing cluster
Surat is one of India's largest textile manufacturing hubs, which gives the company access to a skilled workforce, a well-developed supplier network, cost-efficient raw material sourcing, and established export logistics infrastructure. These location advantages directly reduce procurement lead times and manufacturing costs for the company.
7. Financial Overview: Revenue and Export Breakdown
The following financial data is sourced from the company's investor presentation filed with the DRHP. Complete audited financials including PAT, EBITDA margins, and debt position will be available in the final RHP.
| Revenue Segment | FY25 (₹ Lakhs) | Revenue Mix |
|---|---|---|
| Domestic Sales | ₹1,896.41 | 54.93% |
| International Sales | ₹1,555.92 | 45.07% |
| Total Revenue | ₹3,452.33 | 100% |
| Financial Metric | Status |
|---|---|
| Profit After Tax (PAT) | To be confirmed in final RHP |
| EBITDA Margin | To be confirmed in final RHP |
| Debt-to-Equity Ratio | To be confirmed in final RHP |
| Return on Net Worth (RoNW) | To be confirmed in final RHP |
This page will be updated with complete profit and margin figures once the final RHP is filed ahead of the May 20 open date.
8. Export Markets: Cambodia, Thailand, Bahrain, Singapore
International revenue accounts for 45.07% of FY25 total revenue. The company exports to four markets, with Cambodia being the dominant export destination:
| Export Market | FY25 Revenue (₹ Lakhs) | Share of International Revenue |
|---|---|---|
| Cambodia | ₹1,370.81 | ~88.1% |
| Thailand | ₹96.21 | ~6.2% |
| Bahrain | ₹88.90 | ~5.7% |
| Singapore | -* | -* |
| Total International | ₹1,555.92 | 100% |
*Singapore revenue figure not separately disclosed in investor presentation.
Key observation: Cambodia alone accounts for approximately 88% of international revenue, creating significant geographic concentration in the export segment. Investors should evaluate this concentration risk alongside the company's stated plans to diversify into additional export markets.
9. Domestic Revenue Distribution
The majority of Harikanta Overseas's domestic revenue is concentrated in Gujarat, consistent with its Surat headquarters and proximity to textile buyers in the state:
| State | FY25 Domestic Revenue (₹ Lakhs) | Share of Domestic Revenue |
|---|---|---|
| Gujarat | ₹1,838.75 | ~96.9% |
| Karnataka | ₹37.39 | ~2.0% |
| Punjab | ₹11.17 | ~0.6% |
| Uttar Pradesh | ₹5.43 | ~0.3% |
| Maharashtra | ₹2.78 | ~0.1% |
| Total Domestic | ₹1,896.41 | 100% |
Gujarat accounts for over 96% of domestic sales. This shows strong regional concentration on the domestic side as well. National geographic expansion is an area investors should look for in the company's growth plans disclosed in the final RHP.
10. Use of IPO Proceeds
Since the issue is a 100% Fresh Issue with no OFS, all net proceeds will be deployed within the business. The specific use-of-proceeds breakdown will be detailed in the final RHP. For SME textile companies at this stage, typical fresh issue proceeds are directed toward:
- Working capital requirements: Textile manufacturing and export operations are working-capital-intensive due to fabric procurement cycles, order fulfilment timelines, and export receivable periods
- Debt repayment: Reducing existing borrowings to lower interest costs and improve net margins
- Capacity expansion: Potential investment in additional looms or processing equipment, particularly if nylon fabric expansion plans are funded through IPO proceeds
- General corporate purposes
The exact allocation percentages will be confirmed in the final RHP and will be updated on this page.
11. Key Strengths From the DRHP
The following strengths are highlighted by the company in its DRHP and investor presentation:
- Export-oriented business: 45.07% international revenue in FY25, with an established presence in Cambodia as one of the key growth markets for Indian textile exports in Southeast Asia
- Diversified product portfolio: Five fabric categories (Ikat, Saree, Polyester, Dhupion, Poly Linen) reduce dependence on any single product type
- Integrated manufacturing: Single-facility integrated setup covering fabric manufacturing and textile processing improves quality control and delivery consistency
- Surat location advantage: Proximity to raw material suppliers, skilled textile labor, and established export logistics reduces operational costs
- ISO certifications: ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 demonstrate compliance with international quality, environmental, and safety standards, relevant for export market requirements
- Customization capability: Ability to fulfill both bulk standard orders and customized fabric orders gives the company flexibility to serve different buyer segments
- 100% Fresh Issue: No promoter exit at IPO stage as all capital stays within the business
12. Key Risks to Evaluate
Investors should evaluate the following risk factors before applying for the Harikanta Overseas IPO:
- Cambodia revenue concentration: Approximately 88% of international revenue comes from a single country. Any change in Cambodia's import policies, trade relations, or buyer preferences would materially affect export revenue
- Gujarat domestic concentration: Over 96% of domestic revenue is from Gujarat. The company has limited geographic diversification in its home market
- Small scale of operations: With total FY25 revenue of approximately ₹34.52 crore and 74 employees, this is a small-cap SME with limited operational scale compared to listed textile peers
- Raw material price risk: Synthetic textile fabrics are dependent on petrochemical-derived raw materials (polyester, nylon). Input cost volatility directly affects manufacturing margins
- SME platform liquidity: BSE SME listed stocks have lower trading volumes compared to mainboard stocks, which can affect exit liquidity for investors
- Single manufacturing facility: The company operates from one facility. Any disruption at the Surat unit affects the entire production and delivery capacity
- Currency risk: Export revenues are exposed to foreign exchange fluctuations, particularly the USD/INR rate for Cambodia and Southeast Asian market transactions
13. Harikanta Overseas IPO GMP Today (Grey Market Premium)
The Harikanta Overseas IPO GMP is not available at this stage, as the company is currently at the DRHP filing stage and the price band has not yet been announced. Grey market activity for SME IPOs typically begins after the price band is officially declared, approximately 5-7 days before the subscription window opens.
As the Harikanta Overseas IPO open date of May 20, 2026 approaches and the price band is confirmed, GMP data will become available. For the latest Harikanta Overseas IPO GMP today, check the live tracker on the IPOwiz app which is updated daily and clearly marked as an unofficial grey market estimate, not a SEBI-regulated figure.
14. Harikanta Overseas IPO Allotment Status: How to Check
The Harikanta Overseas IPO allotment is scheduled for May 25, 2026, with shares credited and listing on May 27, 2026.
To check your Harikanta Overseas IPO allotment status once results are declared, you have two options:
- Bigshare Services website: The official registrar, visit bigshare.co.in and enter your PAN or application number
- IPOwiz app: Use the Bulk PAN Import feature to check allotment status for all family members in one step, without visiting the registrar site separately for each applicant
Download here: Download IPOwiz Now
15. IPO Intermediaries: Registrar and Lead Manager
| Role | Entity |
|---|---|
| Book Running Lead Manager (BRLM) | Interactive Financial Services Limited |
| Registrar | Bigshare Services Private Limited |
| Market Maker | Aftertrade Broking Private Limited |
| Promoters | Hardik Gotawala, Abhishek Gotawala, Nilesh Gotawala |
16. How to Apply for the Harikanta Overseas IPO
The subscription window runs from May 20 to May 22, 2026. Here is the step-by-step process to apply:
- Log into your broker app (Zerodha, Angel One, Groww, or any SEBI-registered broker that supports BSE SME IPO applications).
- Go to the IPO section and search for Harikanta Overseas Limited.
- Select the number of lots. For SME IPOs, a minimum of one lot is required, confirm the lot size and minimum investment amount from the final RHP before bidding.
- Choose Cut-off Price for the highest allotment probability in the retail category.
- Approve the UPI mandate via BHIM or your bank's UPI app within the required window. Funds are blocked, not debited until allotment is confirmed.
- Track live Harikanta Overseas IPO subscription status on the IPOwiz app from May 20 onwards.
- Check your allotment status on the IPOwiz app or Bigshare website on May 25, 2026.
Note for SME IPO applicants: Not all broker platforms support SME IPO applications. Confirm with your broker in advance that BSE SME IPO applications are supported on their platform before the subscription window opens.
Harikanta Overseas IPO Details
| Company Name | Harikanta Overseas Limited |
| IPO Type | SME IPO (BSE SME Platform) |
| Issue Type | 100% Fresh Issue (No OFS) |
| Total Shares Offered | 26,70,000 equity shares |
| Face Value | ₹10 per share |
| Price Band | To be announced |
| IPO Open Date | Wednesday, May 20, 2026 |
| IPO Close Date | Friday, May 22, 2026 |
| Allotment Date | Monday, May 25, 2026 |
| Listing Date | Wednesday, May 27, 2026 (BSE SME) |
| Retail Quota | 35% |
| Registrar | Bigshare Services Private Limited |
| Lead Manager | Interactive Financial Services Limited |
| FY25 Total Revenue | ₹3,452.33 Lakhs (~₹34.52 Crore) |
| Export Revenue Share | 45.07% (FY25) |
| Primary Export Market | Cambodia |
Conclusion
The Harikanta Overseas IPO 2026 is a BSE SME listing from a Surat-based textile manufacturer with a 100% Fresh Issue structure, a 3-day subscription window from May 20-22, and a listing date of May 27, 2026. The company's FY25 total revenue of ₹34.52 crore reflects a small but export-active business, with Cambodia accounting for a significant portion of international sales.
The key variables to evaluate before bidding are the final price band, PAT and EBITDA margins from the RHP, order book visibility, and the lot size, all of which will be updated on this page and on the IPOwiz app as soon as they are confirmed. Track the live Harikanta Overseas IPO GMP, subscription status, and allotment results on IPOwiz throughout the May 20-22 subscription period.
Frequently Asked Questions (FAQ)
Q1: What are the Harikanta Overseas IPO dates?
The subscription window is May 20 to May 22, 2026. Allotment is on May 25, 2026 and listing on the BSE SME platform is on May 27, 2026.
Q2: Is Harikanta Overseas an SME or Mainboard IPO?
It is an SME IPO, proposed to list on the BSE SME platform. Note that BSE SME stocks have lower trading liquidity compared to mainboard-listed stocks.
Q3: What is the Harikanta Overseas IPO lot size?
The lot size will be confirmed with the official price band announcement before May 20. For SME IPOs, the minimum investment per lot is typically in the ₹1,00,000-₹1,50,000 range. This page and the IPOwiz app will be updated as soon as the lot size is declared.
Q4: Who is the registrar for the Harikanta Overseas IPO?
The registrar is Bigshare Services Private Limited. You can check allotment status on the Bigshare website or use the IPOwiz app for a bulk family check.
Q5: What does Harikanta Overseas do?
Harikanta Overseas is a Surat-based textile manufacturer producing synthetic fabrics for women's ethnic wear, including sarees, kurtas, and dress materials. It exports to Cambodia, Thailand, Bahrain, and Singapore, with international sales contributing 45.07% of FY25 revenue.
Q6: Where can I check the Harikanta Overseas IPO GMP today?
Live Harikanta Overseas IPO GMP data will be available on the IPOwiz app once the price band is announced. GMP is an unofficial grey market indicator and is not regulated by SEBI.