Harikanta Overseas IPO

IPO Details

• Open Date: 20 May 2026

• Close Date: 22 May 2026

• Minimum Investment: ₹2,30,400

• Lot Size: 1,200 shares

• Price Range: ₹91 to ₹96 per Share

• Listing: BSE, SME

• Issue Size: ₹25.63 Crore

• Listing Date: 27 May 2026

IPO Timeline

• Bidding Start: 20 May 2026

• Bidding Ends: 22 May 2026

• Allotment Finalisation: 25 May 2026

• Refund Initiation: 26 May 2026

• Demat Transfer: 26 May 2026

• Listing: 27 May 2026

About Harikanta Overseas Limited

Harikanta Overseas Limited, incorporated in 2018, is engaged in the manufacturing of synthetic textile fabrics. Its diverse product portfolio includes Ikat fabrics, polyester garment fabrics, saree fabrics, dhupion fabrics, poly linen, and natural fibre fabrics. The company primarily supplies fabrics for women’s wear such as sarees, dress materials, and kurtas, while also catering to men’s ethnic wear. With its manufacturing unit in Surat, Gujarat, Harikanta Overseas serves domestic markets across India and exports to Bahrain, Singapore, and Thailand, supported by efficient production capabilities and product customisation expertise.

Harikanta Overseas Limited IPO Overview

Harikanta Overseas Limited IPO is a bookbuilding issue worth ₹25.63 crore, entirely comprising a fresh issue of 26,70,000 shares. The IPO opens on 20 May 2026 and closes on 22 May 2026. The allotment is expected on 25 May 2026, while refunds and Demat transfers are scheduled for 26 May 2026. The company is set to list on BSE SME on 27 May 2026. The price band is fixed at ₹91 to ₹96 per share, with a lot size of 1,200 shares. Interactive Financial Services Ltd. is the lead manager, and Bigshare Services Pvt. Ltd. is the registrar to the issue.

Harikanta Overseas Limited IPO Details

Particulars	Details
IPO Date	20 May 2026 to 22 May 2026
Listing Date	27 May 2026
Face Value	₹10 per share
Issue Price Band	₹91 to ₹96 per share
Lot Size	1,200 Shares
Total Issue Size	26,70,000 shares (aggregating up to ₹25.63 Cr)
Fresh Issue	26,70,000 shares (aggregating up to ₹25.63 Cr)
Offer for Sale	NA
Issue Type	Bookbuilding IPO
Listing At	BSE SME
Share Holding Pre Issue	71,95,740 shares
Share Holding Post Issue	98,65,740 shares
Market Maker Portion	1,34,400 shares

Harikanta Overseas Limited IPO Reservation

Investor Category	Shares Offered
QIB	Not less than 75% of the Net Issue
Retail	Not more than 10% of the Net Issue
NII (HNI)	Not more than 15% of the Net Issue

Harikanta Overseas Limited IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	2	2,400	₹2,30,400
Retail (Max)	2	2,400	₹2,30,400
HNI (Min)	3	3,600	₹3,45,600

Harikanta Overseas Limited IPO Promoter Holding

Shareholding Status	Percentage
Pre-Issue	96.87%
Post-Issue	70.66%

Harikanta Overseas Limited IPO Valuation Overview

KPI	Value
Earnings Per Share (EPS)	₹6.21
Price/Earnings (P/E) Ratio	15.46
Return on Net Worth (RoNW)	27.10%
Net Asset Value (NAV)	₹19.13
Return on Equity	31.15%
Return on Capital Employed (ROCE)	31.99%
EBITDA Margin	27.97%
PAT Margin	19.50%
Debt to Equity Ratio	0.15

Objectives of the Proceeds

• Capital expenditure for factory premises expansion and infrastructure development – ₹5.40 Cr

• Purchase of advanced machinery to enhance manufacturing capacity – ₹9.33 Cr

• Meeting working capital requirements for operational business growth – ₹4.75 Cr

• Supporting general corporate purposes and strategic business initiatives

Key Financials (in ₹ crore)

Particulars	30 Nov 2025	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	32.51	23.12	6.61	4.99
Revenue	26.28	35.50	11.27	15.06
Profit After Tax	5.09	4.47	0.82	0.25
Reserves and Surplus	11.68	6.59	1.47	0.65
Total Borrowings	2.87	3.26	1.47	1.34

SWOT Analysis of Harikanta Overseas Limited

Strengths and Opportunities	Weaknesses and Threats
Experienced promoters with strong textile industry expertise	Operates in highly competitive textile manufacturing market
Diverse synthetic fabric portfolio serving multiple customer segments	Revenue concentration may increase business vulnerability
Established export presence across international markets	Raw material price volatility may impact margins
Efficient production and customisation capabilities support growth	Demand fluctuations can affect order consistency

IPO Strengths

• Promoters and management team possess extensive textile industry expertise

• Well-established presence in domestic and international fabric markets

• Maintains strong customer relationships with repeat business orders

• Efficient production process with flexible product customisation capabilities

• Diverse synthetic textile product portfolio serving varied demand

• Strong export capability with presence in multiple global markets

Peer Group Comparison

Company Name	EPS (Basic)	NAV (₹ per share)	P/E (x)	RoNW (%)	P/BV Ratio
Harikanta Overseas Ltd.	9.84	19.13	NA	33.00	NA
Peer Group
Betex India Ltd.	13.03	227.34	28.01	5.73	1.61
Swasti Vinayaka Synthetics Ltd.	0.27	2.55	12.78	10.54	1.50

Infographic Content

Harikanta Overseas Limited IPO Highlights

Harikanta Overseas Limited manufactures synthetic textile fabrics with a diverse product range and strong export presence, serving domestic and international markets through efficient production and customised textile solutions.

• Offer Size: ₹25.63 Crores (Fresh issue ₹25.63 Crores; OFS NA)

• Purpose: Funds will be used for factory expansion, machinery purchase, and working capital requirements

• Financials (FY March 2025): Revenue: ₹35.50 crore PAT: ₹4.47 crore; EPS: ₹6.21

• Listing: SME IPO on BSE