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 opened for subscription on September 21, 2023 and will close on September 25, 2023. The allotment for the Hi-Green Carbon IPO is expected to be finalized on Thursday, September 28, 2023. Hi-Green Carbon IPO will list on NSE SME with tentative listing date fixed as Wednesday, October 4, 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.
Hi-Green Carbon IPO Details
| IPO Date | September 21, 2023 to September 25, 2023 |
| Listing Date | [.] |
| 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 Reservation
Hi-Green Carbon IPO a total of 7,038,400 shares are offered. QIB: 1,323,200 (18.80%), RII: 2,316,800 (32.92%), NII: 993,600 (14.12%).
| 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 Anchor Investors Details
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) | November 13, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | February 8, 2024 |
Hi-Green Carbon IPO Timeline (Tentative Schedule)
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 | Wednesday, October 4, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 25, 2023 |
Hi-Green Carbon IPO Lot Size
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 |
Hi-Green Carbon IPO Promoter Holding
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% |
About Hi-Green Carbon Limited
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.
Company Financials
| 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 |
Amount in ₹ Lakhs
Key Performance Indicator
Hi-Green Carbon IPO Market Cap is Rs 187.43 Cr and P/E (x) is 13.13.
| KPI | Values |
|---|---|
| P/E (x) | 13.13 |
| Post P/E (x) | 17.28 |
| Market Cap (₹ Cr.) | 187.43 |
| ROE | 63.19% |
| ROCE | 64.70% |
| Debt/Equity | 0.6 |
| EPS (Rs) | 5.71 |
| RoNW | 48.02% |
Check Hi-Green Carbon IPO Peer Comparison here.
Objects of the Issue (Hi-Green Carbon IPO Objectives)
The Issue Proceeds from the Fresh Issue will be utilized towards the following objects:
- Setting up of new Manufacturing Unit at Maharashtra.
- To Meet Working Capital Requirements.
- General Corporate Purpose.
- To meet Public Issue Expenses.
Hi-Green Carbon IPO Review (May apply)
[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…
Hi-Green Carbon IPO Subscription Status (Bidding Detail)
The Hi-Green Carbon IPO is subscribed 25.46 times on Sep 22, 2023 7:29:00 PM. The public issue subscribed 36.56 times in the retail category, 10.86 times in the QIB category, and 19.00 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 10.86 |
| NII | 19.00 |
| Retail | 36.56 |
| Total | 25.46 |
Total Application : 52,936 (36.56 times)
Hi-Green Carbon IPO Prospectus
Hi-Green Carbon IPO Contact Details
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
Hi-Green Carbon IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: higreencarbon.ipo@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html