HGS (India) IPO
Market Sentiment
IPO Details
IPO Reservation
Market Lot Size
Return Estimator (GMP*)
Financial Analysis
Financial Data
Financial Performance
| Metric | 2024 | 2025 | 2026 | April 2026 |
|---|---|---|---|---|
| Revenue | 37.93 | 53.45 | 48.91 | 3.79 |
| Expense | 33.25 | 39.63 | 33.50 | 2.33 |
| Profit (PAT) | 4.00 | 10.51 | 11.64 | 1.11 |
| Total Assets | 113.70 | 104.04 | 110.12 | 111.90 |
Strengths & Risks
- Solid profit margin — 23.8%.
- Mostly fresh capital — proceeds fund the company's growth, not an exit.
- Revenue fell 8% in the latest reported year.
- Lists on the exchange's SME platform, where trading is usually thinner than on the main board — selling at your price can be harder.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
About HGS (India)
HGS (India) Limited, established in 1986, is a company that makes specialised equipment used to study what lies beneath the Earth’s surface, especially for seismic and geoscience applications. The company was formed with technical and financial support from Geosource Inc., USA, and operates under the brand name “HG”. It manufactures products like geophones, seismic cables, connectors, and other accessories used to detect and record ground movements. These tools are widely used in areas such as oil and gas exploration, mineral discovery, earthquake research, defence studies, and monitoring the safety of large infrastructure projects. As of September 30, 2025, the company has built a presence in 21 countries and works with 146 clients in India and abroad. It also has a team of 161 permanent employees.
Company Contact Information
HGS (India) Ltd., Portion-2, First & Second Floor,, A-259,, Defence Colony, New Delhi, New Delhi, 110024
Objects of the Issue
| Purpose | Amount (Cr) |
|---|---|
| Funding the capital expenditure towards replacement of plant and machinery for our existing manufacturing facility at Manesar, Gurugram | 18.50 |
| Funding the capital expenditure towards Backward Integration for setting up in-house gold plating facility | 1.05 |
| Funding the capital expenditure towards Infrastructural development of building on 3rd Floor at our existing manufacturing facility at Manesar, Gurugram | 4.73 |
| Pursuing unidentified acquisitions and general corporate purpose | - |
Resources & Documents
Anchor Investors
HGS (India) IPO - Quick Take
HGS (India) has set a price band of Rs 114–Rs 120 per share for an issue size of Rs 35 crore. The SME issue is scheduled to open for subscription on October 30, 2026 — 3 days from now.
The issue is promoted by Anil Dass, Shashi Singh, Cecilia Margareta Singh Ramel and Sowar Private Limited with Hem Securities Ltd. acting as lead manager. Net proceeds will primarily be used towards funding the capital expenditure towards replacement of plant and machinery for our existing manufacturing facility at Ma… (Rs 19 crore) and funding the capital expenditure towards Backward Integration for setting up in-house gold plating facility (Rs 1 crore).
On fundamentals, the company is posting revenue growth of -8.5%, a profit margin of 23.8%, return on equity of 13.0% in its most recent reported period.
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.
Frequently Asked Questions
HGS (India) IPO GMP — What It Means
No active grey market premium has been recorded for HGS (India) IPO yet. GMP is an unofficial, dealer-quoted indicator of expected listing-day demand — not a guaranteed listing price — and it can change quickly once bidding opens.
See the full HGS (India) GMP history and trend, or learn how grey market premium works and how reliable it is.
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