Harikanta Overseas SME: Check IPO Date, Live Subscription and Key Details
Harikanta Overseas Limited, incorporated in 2018, is engaged in the manufacturing and distribution of synthetic textile fabrics. The company's diverse product portfolio includes Ikat fabrics, polyester garment fabrics, saree fabrics, dhupion fabrics, poly linen, and natural fiber fabrics. Operating from its manufacturing unit in Surat, Gujarat, the company primarily caters to the women's ethnic wear segment (sarees, dress materials, and kurtas) and men's kurtas. It serves domestic markets across multiple states and exports its products globally to countries like Bahrain, Singapore, and Thailand.
Price Range
₹91.0 - ₹96.0
Issue Size
₹25.63 Cr
Lot Size
1,200 shares
IPO Type
BSE SME
GMP
-
Est. Listing Price
₹96
Estimate Profit
-
Retail Portion
48.94%
Key Metrics
Check Live GMPGMPFace Value
₹10
EPS
7.73
P/E Ratio
12.42
RoNW
27.1%
ROE
31.15%
Debt to Equity
0.15
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Timeline
IPO Opens
20 May
IPO Closes
22 May
Allotment
25 May
Listing
27 May
IPO Timeline & Listing Details
| Event | Date | Details |
|---|---|---|
| IPO Open Date | 20 May 2026 | Subscription starts |
| IPO Close Date | 22 May 2026 | Subscription ends |
| Allotment Date | 25 May 2026 | Allotment |
| Listing Date | 27 May 2026 | Listing |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Individual | 2 | ₹2,30,400 |
SHNI (Min) | 3 | ₹3,45,600 |
SHNI (Max) | 8 | ₹9,21,600 |
BHNIAbove ₹10,00,000 | 9 | ₹10,36,800 |
IPO Reservation Details
| Category | Reservation |
|---|---|
| QIB (Qualified Institutional Buyer) | 2.13% |
| NII (Non-Institutional Investor) | 48.94% |
| SHNI (Small Non-Institutional Investor) | 15.51% |
| BHNI (Big Non-Institutional Investor) | 30.97% |
| Retail | 48.94% |
| Market Maker | 5.03% |
| Total | 100.00% |
IPO Objectives
- Capital Expenditure for Factory premises (₹5.40 Cr).
- Capital Expenditure for purchase of machineries (₹9.33 Cr).
- Meeting the Working Capital Requirements of the Company (₹4.75 Cr).
- General Corporate Purposes.
Strengths
- The company possesses high Product Versatility, offering a broad selection of synthetic blends, traditional Ikat fabrics, and natural fiber materials to satisfy diverse fashion segments.
- It demonstrates strong Geographic Diversity & Export Capability, with active domestic supply pipelines backed by established international exports to Singapore, Thailand, and Bahrain.
- The business reports Healthy Return Metrics, boasting a robust return profile with a restated RoE of 31.15% and a solid EBITDA margin of 27.97% as of November 2025.
- It maintains Low Leverage, operating with a highly conservative debt footprint and a comfortable debt-to-equity ratio of 0.15 as of late 2025.
Weaknesses
- There are valid concerns regarding the Sustainability of Bumper Earnings, given that profits spiked significantly in FY25 compared to nominal performances in FY23 and FY24, which flags potential near-term margin volatility.
- The business operates in a Highly Fragmented Sector, facing intense pricing pressure from the heavily competitive, unorganized, and price-sensitive synthetic textile ecosystem of Surat.
- It has a Small Capital Base, where a small post-issue paid-up equity base indicates a longer gestation horizon for any potential mainboard migration in the future.
- The Merchant Banker Track Record has been flagged by market analysts, who note historically weak or volatile performance metrics from the chosen lead manager's past mandates.
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Financial Performance
| Period Ended | 30 Nov 2025 (8M) | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets (₹ Cr.) | 32.51 | 23.12 | 6.61 | 4.99 |
| Revenue (₹ Cr.) | 26.28 | 35.5 | 11.27 | 15.06 |
| PAT (₹ Cr.) | 5.09 | 4.47 | 0.82 | 0.25 |
| Net Worth (₹ Cr.) | 18.77 | 13.79 | 1.97 | 1.15 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Harikanta Overseas Ltd. | 5.01 | 12.42 | 31.15% | 18.77 |
| Swasti Vinayaka Synthetics | 1.68 | 16.58 | 7.8% | 23.5 |
| Betex India Ltd. | 1.91 | 15.87 | 3.59% | 34.34 |
Subscription Details
Daily Bids Status
| Category | Day 1 |
|---|---|
| QIB | 1x |
| NII | 0.11x |
| S-HNI | 0x |
| B-HNI | 0.16x |
| RII | 0.05x |
| Total | 0.1x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 54,000 | 54,000 | 0.52 |
| NII | 12,40,800 | 1,34,400 | 1.29 |
| Small NII | 4,14,000 | 0 | 0 |
| Big NII | 8,26,800 | 1,34,400 | 1.29 |
| RII | 12,40,800 | 62,400 | 0.6 |
| Total | 25,35,600 | 2,50,800 | 2.41 |
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Company Details
- Harikanta Overseas Ltd.
- 28, Sairam Ind Estate, Bamroli, Surat, Gujarat, 394107
- +91 9898682560
- info@harikantaoverseas.com
- https://harikantaoverseas.com/
Registrar Details
- Bigshare Services Pvt.Ltd.
- +91-22-6263 8200
- ipo@bigshareonline.com
- https://www.bigshareonline.com/
Frequently Asked Questions
What does Harikanta Overseas do?
Harikanta Overseas manufactures and exports synthetic textile fabrics used in sarees, dress materials, kurtas, and other apparel products.
What are the IPO dates for Harikanta Overseas SME IPO?
The Harikanta Overseas SME IPO will open for subscription on May 20, 2026, and close on May 22, 2026.
What is the price band and minimum investment for Harikanta Overseas IPO?
The IPO price band is fixed at ₹91 to ₹96 per share. Retail investors need to apply for a minimum of 2 lots (2,400 shares), requiring an investment of ₹2,30,400.
What is the Grey Market Premium (GMP) of Harikanta Overseas IPO today?
As of May 18, 2026, the Grey Market Premium (GMP) of Harikanta Overseas IPO is ₹0, indicating an expected listing price around ₹96 per share.
Where will Harikanta Overseas IPO be listed?
Harikanta Overseas IPO is proposed to be listed on BSE SME, with the tentative listing date set for May 27, 2026.
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