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Hi-Green Carbon IPO is a book built issue of Rs 52.80 crores. The issue is a combination of fresh issue of 59.9 lakh shares aggregating to Rs 44.93 crores and offer for sale of 10.5 lakh shares aggregating to Rs 7.88 crores.
Hi-Green Carbon IPO bidding started from September 21, 2023 and ended on September 25, 2023. The allotment for Hi-Green Carbon IPO was finalized on Thursday, September 28, 2023. The shares got listed on NSE SME on September 28, 2023.
Hi-Green Carbon IPO price band is set at ₹71 to ₹75 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹120,000. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹240,000.
Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Hi-Green Carbon IPO, while Link Intime India Private Ltd is the registrar for the issue. The market maker for Hi-Green Carbon IPO is Spread X Securities.
Refer to Hi-Green Carbon IPO RHP for detailed information.
| IPO Date | September 21, 2023 to September 25, 2023 |
| Listing Date | September 28, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹71 to ₹75 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 7,040,000 shares (aggregating up to ₹52.80 Cr) |
| Fresh Issue | 5,990,000 shares (aggregating up to ₹44.93 Cr) |
| Offer for Sale | 1,050,000 shares of ₹10 (aggregating up to ₹7.88 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 19,000,000 |
| Share holding post issue | 24,990,000 |
| Market Maker portion | 420,800 shares Spread X Securities |
Hi-Green Carbon IPO offers 7,038,400 shares. 1,323,200 (18.80%) to QIB, 993,600 (14.12%) to NII, 2,316,800 (32.92%) to RII 1,984,000 (28.19%) to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,984,000 (28.19%) |
| Market Maker Shares Offered | 420,800 (5.98%) |
| QIB Shares Offered | 1,323,200 (18.80%) |
| NII (HNI) Shares Offered | 993,600 (14.12%) |
| Retail Shares Offered | 2,316,800 (32.92%) |
| Total Shares Offered | 7,038,400 (100%) |
Hi-Green Carbon IPO raises Rs 14.88 crore from anchor investors. Hi-Green Carbon IPO Anchor bid date is September 20, 2023. Hi-Green Carbon IPO Anchor Investors list
| Bid Date | September 20, 2023 |
| Shares Offered | 1,984,000 |
| Anchor Portion Size (In Cr.) | 14.88 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 28, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 27, 2023 |
Hi-Green Carbon IPO opens on September 21, 2023, and closes on September 25, 2023.
| IPO Open Date | Thursday, September 21, 2023 |
| IPO Close Date | Monday, September 25, 2023 |
| Basis of Allotment | Thursday, September 28, 2023 |
| Initiation of Refunds | Friday, September 29, 2023 |
| Credit of Shares to Demat | Tuesday, October 3, 2023 |
| Listing Date | Thursday, September 28, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 25, 2023 |
Investors can bid for a minimum of 1600 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹120,000 |
| Retail (Max) | 1 | 1600 | ₹120,000 |
| HNI (Min) | 2 | 3,200 | ₹240,000 |
| Lot Size Calculator | |||
M/S RNG Finlease Private Limited, Mr. Amitkumar Hasmukhrai Bhalodi, Dr. Shaileshkumar Vallabhdas Makadia, Mrs. Krupa Chetankumar Dethariya, Mrs. Radhika Amitkumar Bhalodi, Mrs. Shriyakumari Shaileshkumar Makadia, and Mr. Koosh Chetankumar Dethariya are the company's promoters.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 71.83% |
Incorporated in 2011, Hi-Green Carbon Limited, previously known as Shantol Green Hydrocarbons (India), is engaged in the business of waste tyres recycling.
Hi-Green Carbon's manufacturing plant is located in Rajasthan. The plant operates on a continuous pyrolysis process. It is an uninterrupted working method with a continuous feeding and discharging system controlled by the program logic controller system. It is a fully automatic process and requires almost no human intervention. The plant is installed with a capacity of recycling 100 MT waste tyres per day.
The company's product portfolio includes Recovered Carbon Black (rCB) and Steel Wires under the Raw Material Category, Fuel Oil and Synthesis Gas under the Energy components category. Synthesis Gas is further used in manufacturing sodium silicate commonly known as raw glass.
The company is planning to construct a new manufacturing plant in the Dhule district of Maharashtra, with a capacity of recycling 100 MT waste tyres per day, spanning across 21,500 sq. meters.
Hi-Green Carbon has been certified with Environmental Management Measures with ISO 14001:2015, Occupational Health & Safety Management standards with ISO 45001:2018, Quality Management Standards with ISO 9001:2015, Good Manufacturing Practice (GMP) and RoHS. Its product is REACH compliant in terms of sustainability standards.
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 3,310.91 | 3,424.36 | 4,387.83 |
| Revenue | 2,429.39 | 5,113.95 | 7,903.90 |
| Profit After Tax | 9.59 | 367.95 | 1,084.78 |
| Net Worth | 806.28 | 1,174.23 | 2,259.02 |
| Reserves and Surplus | -1,093.72 | -725.77 | 359.02 |
| Total Borrowing | 1,783.10 | 1,586.70 | 1,362.19 |
The market capitalization of Hi-Green Carbon IPO is Rs 187.43 Cr.
| KPI | Values |
|---|---|
| ROE | 63.19% |
| ROCE | 64.70% |
| Debt/Equity | 0.6 |
| RoNW | 48.02% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.71 | |
| P/E (x) | 13.13 | 17.28 |
The Issue Proceeds from the Fresh Issue will be utilized towards the following objects:
[Dilip Davda] The company is in the renewable energy segment and has up the sleeve doubling of capacities. It is endeavoring wealth from waste. The company posted bumper performance for FY22 and FY23. Based on its super earnings for FY23, the issue appears fully priced. Well-informed investors may park moderate funds for medium to long term rewards. Read detail review...
The Hi-Green Carbon IPO is subscribed 168.92 times on September 25, 2023 7:29:00 PM. The public issue subscribed 196.35 times in the retail category, 69.95 times in the QIB category, and 236.76 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 69.95 |
| NII | 236.76 |
| Retail | 196.35 |
| Total | 168.92 |
Total Application : 284,315 (196.35 times)
| Listing Date | September 28, 2023 |
| BSE Script Code | |
| NSE Symbol | HIGREEN |
| ISIN | INE0PIC01017 |
| Final Issue Price | ₹75 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹75.00 |
| ₹77.00 |
| ₹75.45 |
| ₹80.85 |
| ₹80.85 |
Hi-Green Carbon Limited
G-557, Lodhika Industrial Estate,
Metoda G.I.D.C. Gate No. 3, Metoda,
Lodhika Rajkot - 360021
Phone: +91 92275 74010
Email: compliance@higreencarbon.com
Website: https://www.higreencarbon.com/index.php
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: higreencarbon.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
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Hi-Green Carbon IPO is a SME IPO of 7,040,000 equity shares of the face value of ₹10 aggregating up to ₹52.80 Crores. The issue is priced at ₹71 to ₹75 per share. The minimum order quantity is 1600 Shares.
The IPO opens on September 21, 2023, and closes on September 25, 2023.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Hi-Green Carbon IPO using UPI as a payment gateway. Zerodha customers can apply in Hi-Green Carbon IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Hi-Green Carbon IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Hi-Green Carbon IPO opens on September 21, 2023 and closes on September 25, 2023.
Hi-Green Carbon IPO lot size is 1600 Shares, and the minimum amount required is ₹120,000.
You can apply in Hi-Green Carbon IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Hi-Green Carbon IPO will be done on Thursday, September 28, 2023, and the allotted shares will be credited to your demat account by Tuesday, October 3, 2023. Check the Hi-Green Carbon IPO allotment status.
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