Harikanta Overseas SME IPO
ListedBSE SMEOpens 20 May 2026Closes 27 May 2026
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,…
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.
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Key ratios
As per RHP / filingsTimeline
IPO Opens
20 May
IPO Closes
27 May
Allotment
29 May
Listing
2 Jun
IPO Timeline & Listing Details
| Event | Date |
|---|---|
| IPO Open Date | 20 May 2026 |
| IPO Close Date | 27 May 2026 |
| Allotment Date | 29 May 2026 |
| Listing Date | 2 June 2026 |
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.
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 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 1x | 1x | 1x |
| NII | 0.11x | 0.01x | 0.19x |
| S-HNI | 0x | 0.02x | 0.16x |
| B-HNI | 0.16x | 0x | 0.2x |
| RII | 0.05x | 0.09x | 0.32x |
| Total | 0.1x | 0.07x | 0.27x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 54,000 | 54,000 | 0.49 |
| NII | 12,40,800 | 2,30,400 | 2.1 |
| Small NII | 4,14,000 | 66,000 | 0.6 |
| Big NII | 8,26,800 | 1,64,400 | 1.5 |
| RII | 12,40,800 | 3,93,600 | 3.58 |
| Total | 25,35,600 | 6,78,000 | 6.17 |
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/
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Sources
We match Harikanta Overseas SME IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.
- SEBIRules for IPO allotment and disclosures in India
- NSEExchange notices, bidding data, and listing updates
- BSEExchange notices and IPO allotment check tools
- RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
- Bigshare Services Pvt.Ltd.Official site to check allotment status for this IPO
Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.
Reviewed by
Dinesh Agrawal · Lead IPO Analyst
15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.