IPO profile
HGS (India) Limited
HGSINDIALT · NSE
- Price band
- ₹114
- Subscription
- 231.18x
IPO at a Glance
HGS (India) Limited is an SME IPO (NSE) at a fixed price of ₹114 per share, raising about ₹35 crore.
One lot is 1200 shares, so the minimum application is about ₹1,36,800.
The shares listed on 6 Nov 2026.
It was subscribed 231.18x overall.
The listing price is not available yet.
Written automatically from the figures on this page. Each section below shows its source and update time.
Application & Issue Details
- Minimum Quantity
- 1200 shares
- Minimum Application
- ₹1,36,800
- Issue Size
- ₹35 Cr
- Face Value
- Not available
- Issue Price
- ₹114
Company Overview
HGS India manufactures geophones, seismic cables, and geophysical connectors for the energy and geoscience sector. The company’s products are used in seismic data acquisition to detect, record, and transmit ground vibration signals for subsurface geological analysis. Revenue is generated from selling geophone strings and harnesses, seismic cables, and geophysical instruments and accessories to global and domestic clients across diverse end-user industries. These industries include oil and gas exploration, vibration monitoring, earthquake seismology, geophysical seabed surveys, mine exploration, and defense research. The company operates a primary manufacturing facility in Manesar, Gurugram, equipped with precision geophone element assembly, cable extrusion, injection moulding, and automated testing capabilities. HGS India utilizes a dual-hub operating model, combining production in India with international customer engagement and marketing through its wholly owned subsidiary located in the Netherlands to serve multinational customers across global markets.
Summary supplied by our IPO data provider (IPO Alert). The offer document (RHP) is the authoritative description of the company.
Important Dates
- Open Date
- 30 Oct 2026
- Close Date
- 3 Nov 2026
- Allotment Date
- 4 Nov 2026
- Listing Date
- 6 Nov 2026
Allotment Status
Issue Timeline
- Issue open date
- Issue close date
- UPI mandate deadline
- Allotment finalization
- Refund initiation
- Share credit
- Listing date
- Mandate end date
- Lock-in end date for anchor investors (50%)
- Lock-in end date for anchor investors (remaining)
Subscription
- Total subscribed
- 231.18x
Updated 3 Nov 2026, 7:00 pm · source: NSE official total (category figures not published for SME issues)
Day-wise subscription (times)
| Date | Total |
|---|---|
| 30 Oct (Day 1) | 1.53 |
| 2 Nov (Day 2) | 19.43 |
| 3 Nov (Day 3) | 231.18 |
Each day shows the last figures NSE published that day (Day 3: 3 Nov 2026, 7:00 pm).
Actual Listing Performance
Listed on 6 Nov 2026. The listing price is not available yet, so listing gains are not shown.
Company Strengths & Risks
Reported strengths
- Offers a comprehensive product portfolio across geophones, cables, and connectors.
- Serves diverse end-user segments including oil & gas, seismology, and civil monitoring.
- Decades of precision engineering expertise with advanced in-house manufacturing.
- Dual-hub operating model combining Indian manufacturing and European marketing.
- Long-term relationships with key domestic and international customers.
Key risks
- High customer concentration with top 10 clients generating over 72% of FY26 revenues.
- Absence of long-term customer contracts exposes business to sudden order cancellations.
- Significant exposure to international markets and global trade regulations.
- Dependence on exploration and capital expenditure cycles in the oil and gas sector.
- Geographic concentration with manufacturing operations situated at a single site in Manesar.
Strengths and risks are summaries supplied by our IPO data provider (IPO Alert), not IPONexa's opinion. Review the offer document for the complete risk factors.
Documents & Coverage
Sources: IPO details from IPO Alert, updated 5 Nov 2026, 8:08 pm IST · subscription: NSE official total (category figures not published for SME issues). About our data
Understand these numbers
- What is IPO GMP?Why GMP is unofficial and how the estimate is calculated.
- Subscription explainedQIB, NII and retail figures, and why BSE + NSE are combined.
- How allotment worksThe T+3 timeline, the retail lottery and where to check status.
- Listing gain calculationEstimated vs actual listing gain, and why real profit differs.
This page is for informational and educational purposes only. It is not investment advice and not a recommendation to buy, sell, or apply for this IPO. GMP is unofficial, and estimates are not guaranteed returns. Subscription and other figures may change or be delayed. Please make your own independent decision. Disclaimer