Harikanta Overseas IPO

Status: Closed
RHP:
BSE SME

₹ 218,400 / 2400 shares
Minimum Investment

Harikanta Overseas IPO Details

Open Date
20 May 2026
Close Date
27 May 2026
IPO Price Range
₹ 91 to ₹96
IPO Size
₹ 25.63 Cr

Open Free Demat Account

+91

By proceeding, you agree to all T&C*

Harikanta Overseas IPO Timeline

Bidding starts
20 May 2026
Bidding ends
27 May 2026
Allotment finalisation
29 May 2026
Refund initiation
01 Jun 2026
Demat transfer
01 Jun 2026
Listing
02 Jun 2026

Harikanta Overseas IPO Subscription Status

Date	QIB	NII	Retail	TOTAL
20-May-2026	1.00	-	0.05	0.05
21-May-2026	1.00	0.01	0.09	0.07
22-May-2026	1.00	0.19	0.32	0.27
25-May-2026	11.18	0.26	0.34	0.54
26-May-2026	11.18	0.43	0.40	0.65
27-May-2026	21.33	0.70	0.66	1.12

About Harikanta Overseas

Last Updated: 27 May 2026 6:47 PM by 5paisa

Incorporated in 2018 and headquartered at Surat, Harikanta Overseas Limited manufactures and exports premium synthetic and blended fabrics. Its product range spans Ikat fabrics (its flagship category, contributing over 73% of FY25 revenue), saree fabrics, polyester garment fabrics, Dhupion fabrics, poly linen, and natural fiber textiles, catering primarily to women's ethnic wear. The company operates a 953.93 sq. mt. facility equipped with jacquard rapier looms and advanced weaving machinery. It serves key domestic markets across Delhi, Maharashtra, Punjab, and Rajasthan, while also exporting to Bahrain, Singapore, and Thailand.

Established in: 2018

Managing Director: Hardik Gotawala

Harikanta Overseas Objectives

1. Capital expenditure for factory premises 5.40 Cr)

2. Capital expenditure for plant and machineries 9.33 Cr)

3. Working capital 4.75

4. General corporate purposes

Harikanta Overseas IPO Size

Types	Size
Total IPO Size	₹25.63 Cr
Offer For Sale	-
Fresh Issue	₹25.63 Cr

Harikanta Overseas IPO Lot Size

Application	Lots	Shares	Amount (₹)
Retail (Min)	2	2,400	2,18,400
Retail (Max)	2	2,400	2,30,400
S-HNI (Min)	3	3,600	3,27,600
S-HNI (Max)	8	9,600	3,45,600
B-HNI (Min)	9	10,800	10,36,800

Harikanta Overseas IPO Reservation

Investors Category	Subscription (times)	Shares Offered*	Shares bid for	Total Amount (Cr.)*
QIB (Ex Anchor)	21.33	54,000	11,52,000	10.483
Non-Institutional Buyers	0.70	12,40,800	8,62,800	7.851
BNII	0.90	8,26,800	7,46,400	6.792
SNII	0.28	4,14,000	1,16,400	1.059
Individual Investors (IND category bidding for 2 Lots)	0.66	12,40,800	8,16,000	7.426
Total**	1.12	25,35,600	28,30,800	25.760

*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.

Harikanta Overseas Financial Status

Balance Sheet

Total Liabilities
Share Capital
Total Assets

Particulars (In ₹ Crores)	FY23	FY24	FY25
Revenue	14.9	11.11	35.17
EBITDA	0.49	1.24	6.72
PAT	0.25	0.82	4.47

Particulars (In ₹ Crores)	FY23	FY24	FY25
Total Assets	4.99	6.61	23.12
Share Capital	0.5	0.5	7.2
Total Liabilities	4.99	6.61	23.12

Cash Flows (₹ Crores)	FY23	FY24	FY25
Net Cash Generated From / (used in) Operating Activities	1.94	0.68	-0.43
Net Cash Generated From / (used in) Investing Activities	-3.37	-0.63	-7.18
Net Cash Generated From / (used in) Financing Activities	1.28	0.06	8.89
Net Increase (Decrease) in Cash and Cash Equivalents	-0.15	0.10	1.28

Harikanta Overseas IPO SWOT Analysis

Strengths

1. Surat base offers direct access to raw materials, skilled labour, and established textile supply chains

2. Ikat fabrics alone account for over 73% of FY25 revenue, reflecting deep product specialisation

3. Diversified product range spans women's and men's ethnic wear

4. In-house yarn processing and machinery transfer significantly expanded manufacturing capability

Weaknesses

1. Single manufacturing facility of ~954 sq. mt. limits production scalability

2. Heavy revenue concentration in one product category (Ikat) creates vulnerability to demand or trend shifts

3. Export presence currently limited to three markets — Bahrain, Singapore, and Thailand

4. Small, promoter-driven management structure with limited institutional oversight

Opportunities

1. Identified expansion targets in Vietnam, Laos, South Africa, and the Middle East

2. India's ethnic wear market continues to grow, driven by fashion retail, weddings, and organised textile distribution

3. China's dominance in Southeast Asia creates a white space in specialised, customised fabrics

4. Backward integration into raw material manufacturing can improve margins and quality control

Threats

1. Highly competitive textile sector with organised domestic players and aggressive Chinese exporters

2. Raw material price volatility and long credit cycles in export business strain working capital

3. Revenue currently dependent on a limited number of clients; customer concentration risk flagged in RHP

4. Currency fluctuation risk given growing reliance on export revenues

Why Invest in Harikanta Overseas IPO?

1. Surat-based niche fabric manufacturer with a specialised Ikat-led product portfolio contributing 73%+ of FY25 revenue

2. Profitable growth track record with ₹35.50 crore revenue and ₹4.47 crore net profit in FY25

3. Clear post-IPO roadmap: capacity doubling, backward integration, and export expansion into Southeast Asia, Middle East, and Africa

4. Listed entity status expected to unlock MNC client relationships and strengthen long-term revenue visibility

Harikanta Overseas Industry Landscape and Growth Potential

India's synthetic and blended fabric market is underpinned by sustained demand from the ethnic wear segment - sarees, kurtas, and dress materials - across both domestic and export channels. Surat, as India's textile manufacturing hub, offers Harikanta Overseas a structural location advantage. The company is targeting export expansion into Vietnam, Laos, South Africa, and the Middle East, while also pursuing backward integration and capacity doubling post-IPO, positioning it to grow beyond its current ₹35.50 crore revenue base.