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HRH Next Services IPO is a fixed price issue of Rs 9.57 crores. The issue is entirely a fresh issue of 26.58 lakh shares.
HRH Next Services IPO bidding started from December 27, 2023 and ended on December 29, 2023. The allotment for HRH Next Services IPO was finalized on Monday, January 1, 2024. The shares got listed on NSE SME on January 3, 2024.
HRH Next Services IPO price is ₹36 per share. The minimum lot size for an application is 3000 Shares. The minimum amount of investment required by retail investors is ₹108,000. The minimum lot size investment for HNI is 2 lots (6,000 shares) amounting to ₹216,000.
Finshore Management Services Limited is the book running lead manager of the HRH Next Services IPO, while Cameo Corporate Services Limited is the registrar for the issue. The market maker for HRH Next Services IPO is Nikunj Stock Brokers.
Refer to HRH Next Services IPO RHP for detailed information.
| IPO Date | December 27, 2023 to December 29, 2023 |
| Listing Date | January 3, 2024 |
| Face Value | ₹10 per share |
| Price | ₹36 per share |
| Lot Size | 3000 Shares |
| Total Issue Size | 2,658,000 shares (aggregating up to ₹9.57 Cr) |
| Fresh Issue | 2,658,000 shares (aggregating up to ₹9.57 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 6,547,438 |
| Share holding post issue | 9,205,438 |
| Market Maker portion | 135,000 shares Nikunj Stock Brokers |
HRH Next Services IPO offers 2,658,000 shares. 1,263,000 (47.52%) to NII, 1,260,000 (47.40%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 135,000 (5.08%) |
| Other Shares Offered | 1,263,000 (47.52%) |
| Retail Shares Offered | 1,260,000 (47.40%) |
| Total Shares Offered | 2,658,000 (100%) |
HRH Next Services IPO opens on December 27, 2023, and closes on December 29, 2023.
| IPO Open Date | Wednesday, December 27, 2023 |
| IPO Close Date | Friday, December 29, 2023 |
| Basis of Allotment | Monday, January 1, 2024 |
| Initiation of Refunds | Tuesday, January 2, 2024 |
| Credit of Shares to Demat | Tuesday, January 2, 2024 |
| Listing Date | Wednesday, January 3, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 29, 2023 |
Investors can bid for a minimum of 3000 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 | 3000 | ₹108,000 |
| Retail (Max) | 1 | 3000 | ₹108,000 |
| HNI (Min) | 2 | 6,000 | ₹216,000 |
| Lot Size Calculator | |||
The promoters of the company are Mr Ankit Sanjay Shah, Mr Parikshit Pankaj Shah and Mrs Tara Sanjay Shah.
| Share Holding Pre Issue | 97.88% |
| Share Holding Post Issue | 69.61% |
Incorporated in Feburary 2007, HRH Next Services Limited is a business process outsourcing service provider offering services such as chat support, backend support, voice support and email support.
The company's current business clients are from telecom, foodtech, autotech, e-commerce, fintech, education, healthcare, government, banking etc.
The company's services are
Inbound Voice Process: This department is responsible for handling customer calls on various topics. Whenever a customer calls, the company's representative endeavors to resolve the issue.
Outbound Voice Process: This department includes two services: Outbound Sales and Outbound Services. Outbound Sales includes lead generation, up-selling & cross-selling, advertising campaigns and product launch campaigns. On the other hand, Outbound Services includes customer service follow-up calls, renewal reminders, order and invoice information, problem resolution and escalations.
The company is ISO 9001:2015 certified for quality management services and ISO/IEC 27001:2022 certified for the information security management system. The company specializes in providing business process outsourcing services, inbound/outbound services via phone, email, chat, social media and digital channels, business support service, chatbot support, consulting and related advisory services.
As of November 30, 2023, HRH Next has 284 employees who handle day-to-day operations, administrative tasks, secretarial work, legal matters, marketing, and accounting functions in accordance with their respective designated goals.
HRH Next Services Limited's revenue increased by 15.73% and profit after tax (PAT) rose by 273.85% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 3,113.86 | 2,882.29 | 1,864.85 | 1,298.10 |
| Revenue | 2,152.51 | 5,124.96 | 4,428.42 | 2,424.26 |
| Profit After Tax | 150.84 | 347.79 | 93.03 | 25.18 |
| Net Worth | 1,320.71 | 1,044.79 | 697.00 | 603.97 |
| Reserves and Surplus | 665.96 | 1,024.79 | 677.00 | 583.97 |
| Total Borrowing | 1,083.77 | 990.57 | 442.58 | 401.88 |
| Amount in ₹ Lakhs | ||||
The market capitalization of HRH Next Services IPO is Rs 33.14 Cr.
| KPI | Values |
|---|---|
| ROE | 39.94% |
| ROCE | 6.80% |
| Debt/Equity | 0.12 |
| RoNW | 33.29% |
| P/BV | 2.14 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.31 | 3.28 |
| P/E (x) | 6.78 | 10.99 |
The Objects of the Issue are:
[Dilip Davda] The company is providing call centre services under BPO segment, which is a highly competitive and fragmented segment. Based on FY24 annualized earnings, the issue appears fully priced. The sustainability of such margins remains a major concern. Well-informed investors may park moderate funds for the medium term. Read detail review...
The HRH Next Services IPO is subscribed 66.29 times on December 29, 2023 7:29:00 PM. The public issue subscribed 63.61 times in the retail category, times in the QIB category, and 66.91 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 66.91 |
| Retail | 63.61 |
| Total | 66.29 |
Total Application : 26,715 (63.61 times)
| Listing Date | January 3, 2024 |
| BSE Script Code | |
| NSE Symbol | HRHNEXT |
| ISIN | INE0R3501012 |
| Final Issue Price | ₹36 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹36.00 |
| ₹41.00 |
| ₹40.00 |
| ₹43.05 |
| ₹43.05 |
HRH Next Services Limited
4-1-976,
Abid Road,
Hyderabad – 500001
Phone: +91 95536 04777
Email: cs@hrhnext.com
Website: http://www.hrhnext.com/
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: ipo@cameoindia.com
Website: https://ipo.cameoindia.com/
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HRH Next Services IPO is a SME IPO of 2,658,000 equity shares of the face value of ₹10 aggregating up to ₹9.57 Crores. The issue is priced at ₹36 per share. The minimum order quantity is 3000 Shares.
The IPO opens on December 27, 2023, and closes on December 29, 2023.
Cameo Corporate Services Limited is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in HRH Next Services IPO using UPI as a payment gateway. Zerodha customers can apply in HRH Next Services IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in HRH Next Services IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The HRH Next Services IPO opens on December 27, 2023 and closes on December 29, 2023.
HRH Next Services IPO lot size is 3000 Shares, and the minimum amount required is ₹108,000.
You can apply in HRH Next Services 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 HRH Next Services IPO will be done on Monday, January 1, 2024, and the allotted shares will be credited to your demat account by Tuesday, January 2, 2024. Check the HRH Next Services IPO allotment status.
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