Harikanta Overseas IPO
Market Sentiment
Market Lot Size
Return Estimator (GMP*)
IPO Details
IPO Reservation
Financial Analysis
| Metric | 2025 |
|---|---|
| Revenue | 35.50 |
| Expense | 29.30 |
| Profit (PAT) | 4.47 |
| Total Assets | 23.12 |
| Company | P/E | EPS | Market Cap (Cr) |
|---|---|---|---|
| Betex India Limited | 35.61 | 13.03 | 6 |
| Swasti Vinayaka Synthetics Limited | 19.44 | 0.27 | 11 |
Promoters: Hardik Gotawala, Abhishek Gotawala, and Nilesh Gotawala
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 71,95,740 | 96.87% |
Company Information
| Purpose | Amount (Cr) |
|---|---|
| Capital Expenditure for Factory premises | 5.40 |
| Capital Expenditure for purchase of machineries | 9.33 |
| Working Capital Requirement | 4.75 |
| General Corporate Purpose | - |
Resources & Documents
Harikanta Overseas Ltd., 28, Sairam Ind Estate, Bamroli, Surat, Gujarat, 394107
Harikanta Overseas has set a price band of Rs 91–Rs 96 per share for an issue size of Rs 26 crore. The SME issue is scheduled to open for subscription on May 20, 2026 — 7 days from now.
The issue is promoted by Hardik Gotawala, Abhishek Gotawala, and Nilesh Gotawala with Interactive Financial Services Ltd. acting as lead manager. Net proceeds will primarily be used towards Capital Expenditure for Factory premises (Rs 5 crore) and Capital Expenditure for purchase of machineries (Rs 9 crore).
On fundamentals, the company is posting return on equity of 56.7% in its most recent reported period. Listed peers in this segment include Swasti Vinayaka Synthetics Limited (P/E 19.44x, market cap Rs 11 crore) and Betex India Limited (P/E 35.61x, market cap Rs 6 crore) — useful reference points when evaluating the issue's pricing relative to where the broader sector are trading.
All figures below — GMP history, subscription tiers, financials and peers — are aggregated from public disclosures. Always apply through your own broker after reading the RHP.
Understanding Grey Market Premium (GMP)
The Grey Market Premium (GMP) is an unofficial indicator of how an IPO's shares are trading in the grey market before they are officially listed on a stock exchange. It reflects investor sentiment and demand for the IPO shares ahead of listing day.
How does it work? The grey market is an informal, over-the-counter market where investors buy and sell IPO shares before the official listing date. If an IPO has a positive GMP, it suggests that investors expect the stock to list above its issue price. A negative GMP indicates expectations of a listing below the issue price.
Example: If an IPO has an issue price of ₹100 and the GMP is ₹50, the expected listing price would be approximately ₹150 (issue price + GMP). This translates to an estimated listing gain of 50%.
Factors that influence GMP:
- Subscription levels — Higher subscription typically drives GMP up
- Market conditions — Bullish markets tend to boost GMP across all IPOs
- Company fundamentals — Strong financials and growth potential attract premium
- Industry sentiment — Positive outlook for the sector can increase demand
- IPO pricing — Reasonably priced IPOs relative to peers tend to command higher GMP
Disclaimer: GMP is an unofficial metric from the grey market and is not regulated by SEBI or any stock exchange. GMP values fluctuate frequently and should not be the sole basis for investment decisions. Always consider company fundamentals, financial health, and your own risk appetite before investing in any IPO.
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