HGS (India) Limited
IPO Details
Subscription
Lot Distribution
Reservation
Company Fin.
₹21.25(17.71%)
Premium (ELP)
HGS (India) Limited's's IPO subscription window is presently active, allowing investors to participate in this public offering valued at 28,80,000 Shares. The fresh issue component of 23,26,000 Shares and OFS portion of ₹6.65 Cr together constitute the complete offering.
Bids are being accepted within the specified price range of ₹114 to ₹120, with applications starting from 1200 shares. The live subscription status indicates ongoing investor engagement with the offering.
The subscription period will conclude on Nov 03, 2026, followed by allotment finalization on Nov 04, 2026. Market debut is scheduled for Nov 06, 2026 on the NSE exchange, where the shares will commence trading.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Incorporated in 1986, HGS (India) Limited manufactures geophysical equipment and components used in seismic and geoscience applications. The company was set up in collaboration with Geosource Inc., USA, and operates under the brand name “HG”. Its product range includes geophones, geophone strings, seismic cables, connectors, and other equipment like seismographs, seismometers, and accelerographs, which are used in areas such as oil and gas exploration, mineral exploration, defence research, earthquake studies, and infrastructure monitoring. The company has a manufacturing facility in Manesar, Haryana, with advanced production capabilities and also produces key components in-house. As of September 30, 2025, it serves customers in 21 countries with a total of 146 domestic and international clients, and has a workforce of 161 permanent employees.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
The expected premium (GMP) is based on market buzz and unofficial trading. It should not be considered as the guaranteed listing price. Always refer to the RHP and seek advice from a financial expert before making investment decisions.
💡 Read our detailed guide: What is IPO Grey Market Premium (GMP) & How It Works?•📈 Track all live rates on IPO GMP Today
- Wide Product Portfolio: The Company offers a broad range of seismic products, including geophones, seismic cables, connectors, seismographs and seismometers. This covers multiple stages of the seismic value chain and reduces dependence on any single product category or end-user segment.
- Precision Engineering Expertise: The Company benefits from around 40 years of manufacturing experience inherited from Geosource Inc. (USA). Its in-house capabilities include precision geophone assembly, cable extrusion, injection moulding and coil winding, supporting the production of complex and technically advanced products.
- Long-Term Customer Relationships: The Company has established stable relationships with seismic survey and exploration customers. It served 146 domestic and international customers in FY2025 and received repeat orders from around 29 customers over the last three fiscals and the stub period.
- Customer Concentration: The Company relies heavily on key customers and does not have long-term contracts with them. Its top 10 customers contributed 79.49% of revenue during the stub period ended September 30, 2025, making the business vulnerable to the loss of major customers.
- Export and International Trade Risks: Exports accounted for 77.97% of revenue from operations during the stub period ended September 30, 2025. This exposes the Company to geopolitical uncertainties, tariff changes and currency fluctuations across international markets.
- Dependence on Key Products: Geophone Strings/Harness and Seismic Cables together contributed 79.48% of revenue from operations during the stub period ended September 30, 2025. This concentration exposes the Company to risks from declining demand or the availability of substitute products.
- Anil Dass
- Shashi Singh
- Cecilia Margareta Singh Ramel
- Sowar Private Limited
HGS (India) Limited
Kfin Technologies Limited