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 opens for subscription on December 27, 2023 and closes on December 29, 2023. The allotment for the HRH Next Services IPO is expected to be finalized on Monday, January 1, 2024. HRH Next Services IPO will list on NSE SME with tentative listing date fixed as Wednesday, 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.
HRH Next Services IPO Details
| IPO Date | December 27, 2023 to December 29, 2023 |
| Listing Date | [.] |
| 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 Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the Net issue |
| Other Shares Offered | 50% of the Net issue |
HRH Next Services IPO Timeline (Tentative Schedule)
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 |
HRH Next Services IPO Lot Size
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 |
HRH Next Services IPO Promoter Holding
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% |
About HRH Next Services Limited
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 Financial Information (Restated)
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 |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 6.42 |
| ROE | 39.94% |
| ROCE | 6.80% |
| Debt/Equity | 0.12 |
| EPS (Rs) | 5.61 |
| RoNW | 33.29% |
Check HRH Next Services IPO Peer Comparison here.
Objects of the Issue (HRH Next Services IPO Objectives)
The Objects of the Issue are:
- Expansion of the Services by launching 2 (two) Call Centres
- Capital Expenditure towards purchase of Computer Systems
- To meet the working capital requirements
- To meet the Issue Expenses
- General Corporate Purposes
HRH Next Services IPO Review (May apply)
[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…Next Services Limited Contact Details
HRH Next Services Limited
4-1-976,
Abid Road,
Hyderabad – 500001
Phone: +91 95536 04777
Email: cs@hrhnext.com
Website: http://www.hrhnext.com/
HRH Next Services IPO Registrar
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: ipo@cameoindia.com
Website: https://ipo.cameoindia.com/