Listing Details
- Listing Exchange NSE SME
- Listing Date 28-Sep-23
- IPO Price Range ₹ 71 to ₹ 75
- Listing Price ₹ 77
- Listing Change 2.7%
- Last Traded Price ₹ 203
- Current Change 170.7%
Hi-Green Carbon IPO Details
- Open Date 21-Sep-23
- Close Date 25-Sep-23
- Lot Size 1600
- IPO Size ₹ 52.80 Cr
- IPO Price Range ₹ 71 to ₹ 75
- Min Investment ₹ 113600
- Listing Exchange NSE SME
- Basis of Allotment 28-Sep-23
- Refunds 29-Sep-23
- Credit to Demat Account 03-Sep-23
- Listing Date 04-Sep-23
Hi-Green Carbon IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 21-Sep-23 | 7.92 | 3.52 | 11.30 | 8.67 |
| 22-Sep-23 | 10.86 | 19.00 | 36.56 | 25.46 |
| 25-Sep-23 | 69.95 | 236.76 | 196.35 | 168.92 |
Hi-Green Carbon IPO Synopsis
Hi-Green Carbon Limited IPO is all set to open from 21st September to 25th September 2023. The company is engaged in the business of waste tyre recycling. The IPO includes a fresh issue of 5,990,000 shares worth ₹44.93 cr and an OFS of 1,050,000 worth ₹7.88 cr. The total IPO size is ₹52.80 cr. The share allotment date is 28th September, and the IPO will be listed on 4th October, on the stock exchanges. The price band is ₹71 to ₹75 per share and the lot size is 1600 shares.
Beeline Broking Limited is the book-running lead manager for this IPO, while Link Intime India Private Limited is the registrar.
Objectives of the Issue
Hi-Green Carbon plans to utilize the raised capital from the IPO to:
• To set up a new manufacturing facility in Maharashtra.
• For working capital requirements.
• General corporate purpose.
• To fund public issue expenses.
About Hi-Green Carbon
Established in 2011, Hi-Green Carbon specializes in the recycling of waste tires. The company was previously known as Shantol Green Hydrocarbons (India). Located in Rajasthan, Hi-Green Carbon's manufacturing facility runs on a continuous pyrolysis process. This is a method uninterrupted, thanks to a program logic controller system that oversees continuous feeding and discharging. This fully automated process minimizes the need for human intervention and has a daily recycling capacity of 100 metric tons of waste tires.
The company's product range falls into two categories: i) Raw Materials, including Recovered Carbon Black (rCB) and Steel Wires ii) Energy Components, including Fuel Oil and Synthesis Gas. The Synthesis Gas is further utilized in the production of sodium silicate, commonly known as raw glass.
Hi-Green Carbon is planning to construct a new manufacturing plant spanning 21,500 square meters in the Dhule district of Maharashtra, with the same 100 metric tons daily recycling capacity for waste tires.
Hi-Green Carbon also has several certifications such as Environmental Management (ISO 14001:2015), Occupational Health & Safety Management (ISO 45001:2018), Quality Management (ISO 9001:2015), Good Manufacturing Practice (GMP), and RoHS compliance, ensuring that the company's products meet sustainability standards in accordance with REACH regulations.
Peer Comparison
The company has no listed peers.
For More Information:
Webstory on Hi-Green Carbon IPO
Hi-Green Carbon IPO GMP
Hi-Green Carbon Financial Status
Profit and Loss
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue | 78.52 | 51.11 | 24.27 |
| EBITDA | 19.94 | 8.85 | 3.56 |
| PAT | 10.85 | 3.68 | 0.095 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Total Assets | 43.88 | 34.24 | 33.11 |
| Share Capital | 19.00 | 19.00 | 19.00 |
| Total Borrowings | 21.29 | 22.50 | 25.04 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 15.53 | 6.70 | -1.19 |
| Net cash from / (used in) investing activities | -6.29 | -3.62 | -1.23 |
| Net cash flow from / (used in) financing activities | -9.21 | -3.13 | 2.34 |
| Net increase (decrease) in cash and cash equivalents | 0.025 | -0.058 | -0.085 |
Hi-Green Carbon IPO Key Points
-
Strengths
1. Its Manufacturing Facility is strategically located in the industrial district of Bhilwara in the state of Rajasthan.
2. The company has many certifications for its quality offerings.
3. Its manufacturing plant operates on innovative tech like continuous pyrolysis process
4. There is a permanent demand and wide application of products offered by the company.
5. It has an experienced management team. -
Risks
1. Revenues are highly dependent on operations in Rajasthan.
2. Higher working capital requirements.
3. Incurred net loss in the past.
4. The company has availed unsecured loans which are repayable on demand.
5. Foreign exchange risks.
6. Changes in technology can impact the company.
How to apply for IPO?
-
Login to your 5paisa account and select the issue in the
current IPO section -
Enter the number of lots and price at which you wish to
apply for -
Enter your UPI ID and click on submit. With this, your
bid will be placed with the exchange -
You will receive a mandate notification to block funds in
your UPI app -
Approve the mandate request on your UPI and funds
will be blocked
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Hi-Green Carbon IPO FAQs
What is the minimum lot size and investment required for the Hi-Green Carbon IPO?
The minimum lot size of Hi-Green Carbon is 1600 shares and the investment required is ₹113,600.
What is the price band of Hi-Green Carbon IPO?
The price band for Hi-Green Carbon IPO is ₹71 to ₹75 per share.
When does the Hi-Green Carbon IPO issue open and close?
Hi-Green Carbon IPO opens from 21st September to 25th September 2023.
What is the size of the Hi-Green Carbon IPO issue?
The IPO size of Hi-Green Carbon is ₹52.80 cr.
What is the allotment date of the Hi-Green Carbon IPO?
The share allotment date of Hi-Green Carbon is 28th September 2023.
What is the Hi-Green Carbon IPO listing date?
The Hi-Green Carbon IPO will be listed on 4th October 2023
Who are the book runners for the Hi-Green Carbon IPO?
Beeline Broking Limited is the book-running lead manager for Hi-Green Carbon IPO.
What is the objective of Hi-Green Carbon IPO?
Hi-Green Carbon plans to utilize the raised capital from the IPO to:
1. To set up a new manufacturing facility in Maharashtra.
2. For working capital requirements.
3. General corporate purpose.
4. To fund public issue expenses
How to apply for the Hi-Green Carbon IPO?
To apply for the IPO, follow the steps given below
• Login to your 5paisa account and select the issue in the current IPO section • Enter the number of lots and the price at which you wish to apply for the Hi-Green Carbon IPO.
• Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
• You will receive a mandate notification to block funds in your UPI app.